Tuesday October 15, 2024 

We are pleased to present this edition of Coastal Confidential, highlighting real estate contract activity along the coast along the Palm Beaches from October 5 to October 11, 2024.

Here are some key insights from the week: a total of 22 contracts were signed, reflecting a 31% decline week-over-week and a 39% drop year-over-year. This marks the lowest weekly total since December 2022, likely influenced by hurricane activity on the other coast.

This also marks the tenth consecutive week of annual declines in contract activity. Notably, for the third week running, the West Palm Beach to Lake Worth submarket was the only region to report more than ten signed contracts.

There were no contracts signed above $5 million last week, which is the fifth occurrence in the past ten weeks. However, Delray Beach currently has five pending sales scheduled to close, ranging from $1.695 million to $8.995 million at 1202 Vista Del Mar North.

In Manalapan, two significant sales were recorded: 3090 S Ocean sold for $15.89 million, featuring a stunning Mediterranean gated estate with 144 feet of Intracoastal frontage and 150 feet on the ocean side. Additionally, 1110 S Ocean, listed by Christian Angle, closed at $42.6 million. This exceptional Ocean-to-Lake modern Mediterranean compound boasts 9 bedrooms and 11.3 bathrooms, along with approximately 150 feet of frontage on both the ocean and Intracoastal. With its elegant design, intricate millwork, and spacious entertaining areas, this estate truly stands out.