THE BEACH TOWNS OF PALM BEACH COUNTY F LO R I D A –September 2019–
www.LuxuryHomeMarketing.com
PALM BEACH TOWNS
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | AUGUST 2019 Inventory
Sales
Luxury Benchmark Price 1: $780,000 $7,300,000+ $6,300,000 - $7,299,999 $5,300,000 - $6,299,999 $4,300,000 - $5,299,999
$3,800,000 - $4,299,999
72
1 16
0 0
0
23
Buyer's Market Total Sales Ratio2: 6%
29
2
$2,300,000 - $2,799,999
32
1
$1,800,000 - $2,299,999
34
1
$1,300,000 - $1,799,999
27
6
$1,200,000 - $1,299,999
6
1
$1,100,000 - $1,199,999
10
3
$1,000,000 - $1,099,999
1
$900,000 - $999,999
1
Total Sales: 19
23
1
$2,800,000 - $3,299,999
$780,000 - $899,999
23
13
0
$3,300,000 - $3,799,999
Total Inventory: 345
2
2
7
28
0
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
7
0%
2,000 - 3,499
$1,185,000
3
3
7
66
11%
3,500 - 4,999
$1,460,000
4
5
5
98
5%
5,000 - 6,499
$2,461,344
5
6
4
64
6%
6,500 - 7,999
$2,125,000
6
6
2
40
5%
8,000+
$43,000,000
8
19
1
63
2%
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 $2,229,962
$2,200,000 $1,265,000
475
471
39
30
Aug-18
Sep-18
25 Oct-18
473
457
407
401
375
17
16
Nov-18
Dec-18
$2,187,500
$2,662,500
$2,476,000
$2,743,975
$1,612,250
$1,432,500
$1,140,000
Solds
21 Jan-19
$1,475,000
469
445
407
392
18
33
38
44
Feb-19
Mar-19
Apr-19
May-19
369
32
Jun-19
345
32
Jul-19
19 Aug-19
MEDIAN DATA INVENTORY July
SOLDS
SALES PRICE
August
July
345 VARIANCE: -7 %
32
19 VARIANCE: -41 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
369
July
August
529
365 VARIANCE: -31 %
$
$
July
August
August
90.31%
91.38% VARIANCE: 1 %
July
2.74m
$
August
1.48m VARIANCE: -46 % $
DAYS ON MARKET July
August
131
133 VARIANCE: 2 %
PALM BEACH TOWNS MARKET SUMMARY | AUGUST 2019 • The Palm Beach Towns single-family luxury market is a Buyer's Market with a 6% Sales Ratio. • Homes sold for a median of 91.38% of list price in August 2019. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 50%. • The median luxury sales price for single-family homes has decreased to $1,475,000. • The median days on market for August 2019 was 133 days, up from 131 in July 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 | AUGUST 2019 Inventory
Sales
Luxury Benchmark Price 1: $720,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999
$2,250,000 - $2,499,999 $2,000,000 - $2,249,999
6
0
1
14
Total Sales Ratio2: 9%
8
0
32
2 29
1
34
3 27
2 21
1
$800,000 - $899,999
1
Buyer's Market
9
0
$1,000,000 - $1,249,999
$720,000 - $799,999
14
9
0
$1,250,000 - $1,499,999
$900,000 - $999,999
Total Sales: 28
0
$1,750,000 - $1,999,999 $1,500,000 - $1,749,999
Total Inventory: 311 8
0
$3,000,000 - $3,499,999 $2,500,000 - $2,999,999
18
11
39
4
43
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$895,000
2
2
3
76
4%
2,000 - 2,999
$985,000
2
3
8
131
6%
3,000 - 3,999
$1,525,000
3
4
4
50
8%
4,000 - 4,999
$5,441,500
3
4
4
21
19%
5,000 - 5,999
$7,075,000
3
5
3
13
23%
6,000+
$10,725,000
4
6
5
14
36%
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
$1,441,500
$1,325,000 $1,111,500
$1,044,130
368
343
329
277
$1,250,000 $1,000,000
$994,863
$955,000
407
419
$1,155,000
$1,075,000
413
375
353
323
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
311
300
228 23
$1,690,000
$1,500,000
36 Jun-19
31
Jul-19
28 Aug-19
MEDIAN DATA INVENTORY July
August
300
SOLDS July
SALES PRICE August
311 VARIANCE: 4 %
28 VARIANCE: -10 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
July
August
773
$
633 VARIANCE: -18 %
$
31
July
July
1.85m
August
1.69m VARIANCE: -9 %
$
$
DAYS ON MARKET
August
92.23% 92.42% VARIANCE: 0 %
July
August
82
157 VARIANCE: 91 %
PALM BEACH TOWNS MARKET SUMMARY | AUGUST 2019 • The Palm Beach attached luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 92.42% of list price in August 2019. • The most active price band is $5,000,000+, where the sales ratio is 61%. • The median luxury sales price for attached homes has decreased to $1,690,000. • The median days on market for August 2019 was 157 days, up from 82 in July 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