Luxury home sales in Palm Beach County saw an increase after Thanksgiving, highlighted by a pending sale of a mansion in Jupiter listed for $44 million. According to the Eklund-Gomes team at Douglas Elliman, from December 1 to December 7, buyers signed 16 contracts for luxury properties in the county. The total asking price for these homes was $130.6 million, with properties spending an average of 70 days on the market.
The week before, there were 15 contracts signed with a combined asking value of $114.6 million.
The report monitors contracts for single-family homes and condominiums listed at $3 million or more on the Beaches MLS. It noted that there were 61 new listings during the week, bringing active listings in the market to 1,223.
Of last week’s pending deals, 14 were single-family homes and two were condos. Condominiums averaged an asking price of $4.1 million and $1,064 per square foot, spending about one and a half days on the market.
Single-family homes had an average asking price of $8.7 million and spent about 139 days on the market. The total dollar volume for these houses was $122.4 million.
The highest-priced property under contract is located at 118 Bears Club Drive in Jupiter. The estate covers nearly three acres and includes a seven-bedroom, nine-and-a-half-bathroom house measuring 23,000 square feet. Mark Griffin from The Bear’s Club Sotheby’s International Realty represents this listing. Property records show that investor Jimmy Mayer leads the company owning this estate, which was built in 2010. The listing price equals $1,910 per square foot.
Another notable deal involves a house at 253 Jamaica Lane in Palm Beach with four bedrooms and five-and-a-half bathrooms across 4,270 square feet. Built in 2016 and marketed by Margit Brandt of Premier Estate Properties for $14.8 million ($3,469 per square foot), it sits on a quarter-acre lot owned by a trust managed by attorney Daniel Tighe. This property last sold in 2017 for $5.4 million.
