THE BEACH TOWNS OF PALM BEACH COUNTY F LO R I D A –August 2019–
www.LuxuryHomeMarketing.com
PALM BEACH TOWNS
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 2019 Inventory
Sales
Luxury Benchmark Price 1: $780,000 $7,300,000+ $6,300,000 - $7,299,999
16
1
$5,300,000 - $6,299,999
31
0
36
2
$1,300,000 - $1,799,999
$1,000,000 - $1,099,999 $900,000 - $999,999 $780,000 - $899,999
1
31
3
$1,800,000 - $2,299,999
$1,100,000 - $1,199,999
Total Sales Ratio2: 9% 26
1
$2,300,000 - $2,799,999
$1,200,000 - $1,299,999
Buyer's Market
15
2
$3,300,000 - $3,799,999
Total Sales: 32
22
2
$3,800,000 - $4,299,999
Total Inventory: 369 23
3
$4,300,000 - $5,299,999
$2,800,000 - $3,299,999
80
6
28
5
7
0
11
0 3
0 2
5
35
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
NA
NA
NA
0
8
0%
2,000 - 3,499
$2,000,000
3
3
6
68
9%
3,500 - 4,999
$1,400,000
4
4
11
107
10%
5,000 - 6,499
$2,400,000
4
6
5
69
7%
6,500 - 7,999
$1,760,000
4
5
1
40
3%
8,000+
$12,651,208
5
9
9
70
13%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
PALM BEACH TOWNS
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
Inventory $3,040,000
$2,700,000
$1,265,000
475
471
Jul-18
39
30
Aug-18
Sep-18
25 Oct-18
473
457
407
401
375
17
16
Nov-18
Dec-18
$2,476,000
$2,187,500
$2,662,500
$2,743,975
$1,612,250
$1,432,500
$1,140,000
339
23
$2,229,962
$2,200,000
$1,900,000
Solds
21 Jan-19
469
445
407
392
18
33
38
44
Feb-19
Mar-19
Apr-19
May-19
369
32
Jun-19
32
Jul-19
MEDIAN DATA INVENTORY June
July
392
369 VARIANCE: -6 %
SALE PRICE PER SQFT. June
July
424
529 VARIANCE: 25 %
$
$
SOLDS June
SALES PRICE July
32
32 VARIANCE: 0 %
SALE TO LIST PRICE RATIO June
July
90.52% 90.31% VARIANCE: 0 %
June
2.66m
$
July
2.74m VARIANCE: 3 % $
DAYS ON MARKET June
July
144
131 VARIANCE: -9 %
PALM BEACH TOWNS MARKET SUMMARY | JULY 2019 • The Palm Beach Towns single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 90.31% of list price in July 2019. • The most active price band is $900,000-$999,999, where the sales ratio is 40%. • The median luxury sales price for single-family homes has increased to $2,743,975. • The median days on market for July 2019 was 131 days, down from 144 in June 2019. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
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PALM BEACH TOWNS
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | JULY 2019 Inventory
Sales
Luxury Benchmark Price 1: $720,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999
8
Total Sales Ratio2: 10%
15 9
0
10
1 7
2
$1,750,000 - $1,999,999
27
2
$1,500,000 - $1,749,999
29
1
$1,250,000 - $1,499,999
34
3
$1,000,000 - $1,249,999
1
Buyer's Market
13
1
$2,000,000 - $2,249,999
$720,000 - $799,999
Total Sales: 31
1
$2,250,000 - $2,499,999
$800,000 - $899,999
Total Inventory: 300
0
$3,000,000 - $3,499,999
$900,000 - $999,999
6
1
$3,500,000 - $3,999,999
$2,500,000 - $2,999,999
19
8
30
3 20
0
36
3
37
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,223,500
2
3
8
71
11%
2,000 - 2,999
$1,200,000
2
3
11
125
9%
3,000 - 3,999
$2,450,000
3
4
1
49
2%
4,000 - 4,999
$5,205,360
3
4
7
23
30%
5,000 - 5,999
$7,498,000
3
5
1
10
10%
6,000+
$9,001,296
4
6
2
16
13%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
PALM BEACH TOWNS
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
Inventory
Solds $1,850,000
$1,675,000 $1,441,500
$1,325,000 $1,111,500
$1,044,130
282
15
Jul-18
$1,000,000
368
343
329
277
$1,500,000
$1,250,000 $994,863
$955,000
407
419
$1,075,000
413
375
353
$1,155,000
323
300
228 23
13
Aug-18
Sep-18
20 Oct-18
23
15
Nov-18
Dec-18
14
Jan-19
29
32
44
34
Feb-19
Mar-19
Apr-19
May-19
36 Jun-19
31
Jul-19
MEDIAN DATA INVENTORY June
July
323
SOLDS June
SALES PRICE July
300 VARIANCE: -7 %
31 VARIANCE: -14 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
July
587
773 VARIANCE: 32 %
$
$
36
June
June
1.16m
$
1.85m VARIANCE: 60 % $
DAYS ON MARKET
July
92.98% 92.23% VARIANCE: -1 %
July
June
July
120
82 VARIANCE: -32 %
PALM BEACH TOWNS MARKET SUMMARY | JULY 2019 • The Palm Beach Towns attached luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 92.23% of list price in July 2019. • The most active price band is $5,000,000+, where the sales ratio is 42%. • The median luxury sales price for attached homes has increased to $1,850,000. • The median days on market for July 2019 was 82 days, down from 120 in June 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3