Welcome to this week's installment of Coastal Confidential, where we provide a brief overview of the coastal real estate markets stretching from Boca Raton to Jupiter Island for the week ending on May 3.

Here are the highlights from last week:
- There were 71 contracts signed, showing a 13% increase from the previous week but a decrease of 11% compared to last year.
- Contract activity has been on a decline for the past four weeks across all submarkets.
- Contracts under $1 million dropped by 7% annually, while those above $1 million saw a 17% decrease.
- The standout property of the week was 200 S Ocean Boulevard, a stunning single-family home on Palm Beach Island with ocean views and private beach access, listed for an impressive $59 million. This property previously sold for $15.3 million in 2014.

Exciting news from Boca Raton: 899 Appleby Street is currently pending at $7.995 million, boasting a beautifully renovated direct Intracoastal home with 200 feet of water frontage.

Additionally, there were two contracts reported last week for properties priced above $50 million, bringing the total number of such sales in the Coastal Palm Beaches & Barrier Islands for 2024 to five.