Luxury home sales in Palm Beach County increased in the first week of December, with a notable pending sale of a $44 million mansion in Jupiter leading the market activity. According to Douglas Elliman’s Eklund-Gomes team, 16 contracts for luxury properties were signed between December 1 and December 7. The combined asking price for these properties reached $130.6 million, with homes spending an average of 70 days on the market.
This represented a rise from the previous week, when buyers signed 15 contracts totaling $114.6 million in asking volume.
The Eklund-Gomes report tracks contracts for single-family homes and condos listed at $3 million or more on the Beaches MLS. It also reported 61 new listings during this period, bringing the total number of active listings to 1,223.
Of last week’s pending sales, 14 were single-family homes and two were condos. The condos had an average asking price of $4.1 million and averaged one and a half days on the market at $1,064 per square foot. Single-family homes had an average asking price of $8.7 million and spent about 139 days on the market; their combined dollar volume was $122.4 million.
The highest-priced property under contract was at 118 Bears Club Drive in Jupiter—a nearly three-acre estate featuring seven bedrooms and nine-and-a-half bathrooms across approximately 23,000 square feet. Mark Griffin of The Bear’s Club Sotheby’s International Realty is representing the listing. Property records indicate that investor Jimmy Mayer leads the company that owns this estate, which was built in 2010. The agreed price amounts to $1,910 per square foot.
Another significant contract was for a house at 253 Jamaica Lane in Palm Beach—a four-bedroom home built in 2016 with five-and-a-half bathrooms over 4,270 square feet—listed by Margit Brandt of Premier Estate Properties for $14.8 million ($3,469 per square foot). This quarter-acre property is owned by a trust managed by attorney Daniel Tighe and previously sold for $5.4 million in 2017.
