Donald Trump’s Neighbors Drop House Price by $3 Million – Newsweek

A six-bedroom, eight-bathroom property near former President Donald Trump‘s Mar-a-Lago Club has slashed its listed price by nearly $3 million to $12.96 million.

In March, the house, at 129 Woodbridge Road in Palm Beach, Florida, is 200 feet from Mar-a-Lago and was listed for sale at $15.76 million, a whopping 608 percent higher than when it was sold in 2013, according to Zillow.

Newsweek contacted the listing agent by phone for comment on Thursday.

The market in Palm Beach is experiencing some flux. In the first quarter, the average price for single-family homes fell 25 percent to $15.6 million compared to the same time last year, according to real estate firm Corcoran. But the market has seen homes average above $11 million for the third year in a row. Part of the reason prices dropped was fewer high-end deals in the area compared to last year.

“This quarter saw one sale above $30 [million], in contrast to four such closings in First Quarter 2023 including a closing for $155 [million],” Corcoran said in its market analysis.

“Palm Beach’s real estate market showcased its resilience and diversity in the First Quarter 2024. Despite a decline in the average price of single-family homes compared to the previous year,” Pamela Liebman, Corcoran’s president and CEO, said recently. “This consistency not only underscores the allure of Palm Beach’s high-end market but also promises stability amidst evolving trends.”

The 129 Woodbridge Road property sits on a nearly 15,000-square-foot lot, the listing on Zillow said. Homeowners of the property gain guest privileges to the Mar-a-Lago Club, “subject to an interview process and annual dues.” The main house has five bedrooms, including a ground-floor primary bedroom and a second-floor primary suite. The property comes with a two-story guest house.

“Behind the guest house is a generous side yard with a gated area perfect for playing games and hanging out away from the main pool area,” the listing noted.

“This exceptional property presents a rare opportunity to reside in the Estate Section of Palm Beach, right next to The Mar-A-Lago Club, making it an ideal choice for discerning buyers seeking luxury living and proximity to world-class amenities.”

Despite the price cut, the home indicates the growing prices the Palm Beach market has gone through over the last decade. In 2013, when the house first sold, it went for about $2.2 million, Zillow data showed.