We are delighted to present Coastal Confidential, our weekly report on contract activity in the Coastal Palm Beaches and Barrier Islands of Palm Beach County for the period June 15 to June 21, 2024.

Here are the key highlights:

Last week, 38 contracts were signed, reflecting a 28% decrease from the previous week and a 25% decrease compared to the same period last year.
  
Palm Beach Island saw the most significant annual increase in contract activity, driven exclusively by condo contracts in the South End and South Palm Beach.

Contracts priced above $1 million declined by 56% year-over-year, while contracts priced below $1 million saw a 4% annual increase, largely due to sales in West Palm Beach.

The highest-priced contract signed last week was for 1455 Lands End Road, a stunning waterfront Mediterranean home in Manalapan built by Farrell Homes. This exquisite property features a pool, private dock, and is listed at $10.250 million, with rumored representation by renowned broker Dovi Ettedgui.

Additionally, a record-setting pending sale was reported at 3223 N Ocean Blvd in Gulf Stream, listed at $40 million for a trophy property spanning over 2 acres with 200 feet of prime oceanfront.

Another record-setting sale was announced at 1016 Harbor Drive, a breathtaking waterfront property in the sought-after North Beach neighborhood of Delray Beach, Florida. This elegant home offers expansive views of the Intracoastal Waterway and was sold for $10,200,000. The listing agent was Lenny Felberbaum from Engel & Volkers.