The Palm Beach County luxury real estate market saw 35 contracts signed for high-end properties between February 23 and March 1, according to the Eklund-Gomes team at Douglas Elliman. The combined asking price for these homes reached $295.6 million, with properties spending an average of 76 days on the market. This represents an increase from the previous week, when buyers signed 32 contracts totaling $209 million.
The report covers single-family homes and condos listed at $3 million or more in the Beaches MLS. There were 70 new listings during this period, bringing the total number of active listings to 1,289.
Of last week’s pending sales, 31 were single-family homes and four were condos. Condos had an average asking price of $3.7 million—about $1,599 per square foot—and spent an average of 66 days on the market. Single-family homes averaged $9.1 million in asking price ($1,746 per square foot) and remained on the market for about 86 days.
The highest-priced property to find a buyer was a home owned by telecommunications investor Kevin Douglas at 870 South Ocean Boulevard. The six-bedroom house was listed for $43.9 million after being purchased by Douglas and his wife Michelle for $28.5 million in 2021. Built in 1987 on a lot measuring about four-tenths of an acre, it features seven bathrooms, two half-bathrooms, and two pools. Christian Angle with Christian Angle Real Estate is handling the listing.
Another significant pending deal involved a property at 143 East Inlet Drive that belonged to Albrecht zu Oettingen-Spielberg, a German hereditary prince who died in November. The estate’s asking price was $32.9 million; it was originally bought for $1.8 million in 1987 and sits on a site spanning approximately 1.2 acres with five bedrooms, six bathrooms, one half-bathroom, and a pool. Liza Pulitzer and Whitney McGurk with Brown Harris Stevens have this listing.
Both properties highlight continued demand for oceanfront estates among affluent buyers in Palm Beach County.
