A home in Boca Raton’s Royal Palm Yacht & Country Club and a Palm Beach townhome previously owned by the late Hearst executive Gilbert C. Maurer were the highest-priced properties to go under contract last week in Palm Beach County.
According to a market report from Douglas Elliman’s Eklund-Gomes team, buyers signed 11 contracts for luxury homes between September 8 and September 14. The total asking dollar volume for these pending sales reached $53.6 million, with properties spending an average of 98 days on the market. This represents a decrease from the previous week, when 10 homes went under contract with a combined asking price of $84 million.
The report tracks single-family homes and condos listed at $3 million or more in the Beaches MLS. Last week, there were 52 new listings, bringing the total number of active listings to 1,006.
Of the contracts signed, nine were for single-family homes and two were for condos. The condos had an average asking price of $8.9 million—about $1,475 per square foot—and spent an average of 115 days on the market before going pending.
Single-family homes accounted for $44.7 million in asking dollar volume and averaged 80 days on the market. The average asking price among these houses was $5 million.
The most expensive property to find a buyer was a 6,200-square-foot house at 2352 Acorn Palm Road in Boca Raton’s Royal Palm Yacht & Country Club, listed at $7.5 million. Lawrence and Nancy Reid are recorded as sellers; they purchased it for $4.9 million in 2021. Built in 2019 on a third-acre lot, it features five bedrooms, five bathrooms, two half-bathrooms, and a pool. The property was initially listed at $8.5 million in February but underwent three price reductions before finding a buyer, according to Zillow. David Roberts with Royal Palm Properties is handling the listing.
The second-highest contract was for a townhouse at 217 Everglade Avenue in Palm Beach, listed at $7.3 million. Property records show that it is being sold by the estate of Gilbert C. Maurer, former chief operating officer of Hearst who died earlier this year. Maurer bought the property for $1.1 million in 1995; it has five bedrooms, five bathrooms, one half-bathroom and a pool and was built that same year according to records. The townhouse went on the market September 5th and found a buyer within three days at its original asking price of $7.3 million as shown by Zillow data. Paulette and Dana Koch with Corcoran Group have the listing.
