PALM BEACH TOWNS
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | OCTOBER 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,000,000 $25,000,000+ $22,500,000 - $24,999,999 $20,000,000 - $22,499,999
$17,500,000 - $19,999,999 $15,000,000 - $17,499,999 $13,000,000 - $14,999,999 $11,000,000 - $12,999,999 $9,000,000 - $10,999,999
$5,000,000 - $5,999,999
2
0
0
Total Inventory: 120
2
0
Total Sales: 30 Seller's Market
1
Total Sales Ratio2: 25%
3
0 2
0
3
0
10
0
$7,000,000 - $8,999,999 $6,000,000 - $6,999,999
18
0
12
1 4
0
4
1
$4,000,000 - $4,999,999
6
$3,000,000 - $3,999,999
8 13
4
$2,000,000 - $2,999,999
11
4
$1,000,000 - $1,999,999
1
27
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$1,412,500
3
2
10
14
71%
2,000 - 3,499
$2,000,000
4
3
9
36
25%
3,500 - 4,999
$3,075,000
5
6
7
28
25%
5,000 - 6,499
$4,100,000
6
6
4
15
27%
6,500 - 7,999
NA
NA
NA
0
7
0%
8,000+
NA
NA
NA
0
19
0%
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
Solds
$4,698,900
$4,500,000 $3,897,500 $3,177,178
$3,175,000
$2,937,500
$3,197,500 $2,575,000
$2,258,000 217
206
Oct-20
$2,250,000
74
37 Nov-20
$2,060,000
207
200 145
41
$2,800,000
$2,679,725
Dec-20
123
35 Jan-21
99
40 Feb-21
76
Mar-21
112
76
Apr-21
123
111 56
May-21
117
65
Jun-21
120
111
65
52
Jul-21
Aug-21
33
30
Sep-21
Oct-21
MEDIAN DATA REVIEW | OCTOBER TOTAL INVENTORY Oct. 2020
Oct. 2021
217
TOTAL SOLDS Oct. 2020
Oct. 2021
120 VARIANCE: -45 %
30 VARIANCE: -27 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Oct. 2020
Oct. 2021
506
789 VARIANCE: 56 %
$
$
41
Oct. 2020
SALES PRICE Oct. 2020
2.26m
$
Oct. 2021
92.92% 91.43% VARIANCE: -2 %
Oct. 2021
2.06m VARIANCE: -9 % $
DAYS ON MARKET Oct. 2020
Oct. 2021
103
47 VARIANCE: -54 %
PALM BEACH TOWNS MARKET SUMMARY | OCTOBER 2021 • The Palm Beach Towns single-family luxury market is a Seller's Market with a 25% Sales Ratio. • Homes sold for a median of 91.43% of list price in October 2021. • The most active price band is $4,000,000-$4,999,999, where the sales ratio is 75%. • The median luxury sales price for single-family homes is $2,060,000. • The median days on market for October 2021 was 47 days, down from 103 in October 2020. 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