Guy Fieri's $7 Million Lake Worth Home Sale Amid Cooling Real Estate Market

Lake Worth Beach, Florida, USA - In a swift move that has caught the attention of real estate enthusiasts and fans alike, celebrity chef Guy Fieri has officially sold his Lake Worth Beach home for a cool $7 million. Initially listed for $8.75 million, the sale marks the end of Fieri’s brief yet eventful ownership of the property, which he purchased for $3.9 million back in March 2021. The new owners, popular Las Vegas restaurateurs Frank Bonanno and Betty Pellegrino Bonanno, are sure to bring their flair to the vibrant home, spanning an impressive 6,000 square feet.

On June 12, 2025, USA Today reports that Fieri is not merely basking in real estate gains; he has also been actively contributing to the community. Just a few days ago, he visited Lake Worth Community High School to donate $20,000 to their food program, demonstrating his commitment to local welfare. Residents have welcomed his ongoing involvement, including efforts to support Palm Beach County sheriff’s personnel and fundraising initiatives for hospitality workers affected by hurricanes.

A Shift in Palm Beach’s Real Estate Climate

The recent sale comes at a time when the Palm Beach County real estate market is feeling the pinch. Statistics point to a slowdown, with about 30% of single-family homes reducing their prices as of April 2024. The median sale price for homes has dipped slightly to $645,000—a 1% decrease from last year. Additionally, homes are taking longer to sell, with the median time to receive a sales contract now sitting at 41 days, which is an 11% increase from the previous year.

These trends, aligned with rising inventory—currently sitting at 6,503 active listings—signal a market shift favoring buyers. As reported by FL Palm Beach, closed sales have also dropped by 5.3% year-over-year, adding to the cooling buyer activity despite relatively steady pricing.

More Than Just a House

Interestingly, although he has offloaded his Lake Worth Beach residence, Fieri still holds onto his luxurious property on Singer Island, which he acquired for $7.3 million in June 2023. This stunning home boasts 230 feet of water frontage along the Intracoastal Waterway, making it a heavenly retreat for the culinary star.

Meanwhile, the local housing scene is shifting. The Shorecrest condominium in West Palm Beach is undergoing a makeover aimed at attracting high-end buyers, with prices now starting at $2.7 million. The redevelopment effort follows heightened complaints from residents at nearby Flagler Pointe, where disagreements over wet paint and a lack of signage have created a stir.

As Palm Beach County navigates these pivotal changes, local leaders, including Mayor Keith James, emphasize the pressing need for affordable housing. His critique of the Historic Preservation Board’s rejection of a prefabricated home underlines a growing urgency for more economical options in the area, a sentiment echoed by many residents amid rising costs.

In the end, Fieri’s real estate transactions do more than make headlines; they reflect the vibrant tapestry that is Palm Beach’s housing market. With every sale, there’s something to be said for the shifting dynamics, and now more than ever, staying informed is key for buyers and sellers alike in Florida’s evolving landscape.

For a closer look at Fieri’s real estate journey and ongoing contributions, check out the full articles on Indy Star and FL Palm Beach.