Palm Beach, FL | web: 0076613
Palm Beach Market Update First Quarter 2015 PALM BEACH BROKERAGE 340 Royal Poinciana Way Palm Beach, FL 33480 +1.561.6593555 BROKER MANAGER: Carol Hickman sothebyshomes.com
A MESSAGE FROM OUR MANAGER: Carol Hickman You are invited to review a summary of sales activity in the greater Palm Beach area during first quarter of 2015. The Palm Beach Multiple Listing Service reports the following statistics quarter (Q1 15) over quarter (Q1 14). The condominium market started the year off on a strong note with sold volume increasing dramatically quarter over quarter. The South End condo market was the most robust of the three areas with a 95% increase, West Palm Beach followed closely with an impressive increase of 82% and the In Town condo market rose a healthy 37%. The Average Sales Price also increased across the board while Days On The Market fell in all areas. The Single Family Home results for the quarter varied by locality. In Palm Beach, both sold volume and the average sale price fell 32% and 28%, respectively, albeit from an exceptional quarter. In West Palm Beach, sold volume and average sales price each dropped 25%. While in Manalapan, the average sales price and sold volume were both up 62%. Inventory levels fell in Palm Beach and West Palm Beach, but rose slightly in Manalapan, which didn’t mirror our closed activity.
SIGNIFICANT SALES | Q1 2015
SOPHISTICATED REGENCY ESTATE Web ID: 0076206 | Listed $11,200,000
CHARMING ESTATE SECTION Web ID: 0076206 | Listed $6,950,000
OCEAN BLOCK NEAR WORTH AVENUE Web ID: 0076523 | Listed $5,250,000
LAKE BLOCK MEDITERRANEAN TOWNHOME Web ID: 0076324 | Listed $4,500,000
All data within this document is pulled from the Palm Beach Board of Realtors Multiple Listings Service. Information is believed to be true; no guaranty of accuracy is made. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
Claes Oldenburg, Screwarch Bridge (State III); Aquatint, etching and monoprint in colors, 1981; Estimate $30,000-50,000
AUCTION CALENDAR MAY 2015 Prints & Multiples New York 01-02 May RM Sotheby’s: The Andrews Collection Fort Worth 02 May Impressionist & Modern Art Evening Sale New York 05 May Impressionist & Modern Art Day Sale New York 06 May Finest & Rarest Wines New York 08-09 May Magnificent Jewels & Noble Jewels Geneva 12 May Contemporary Art Evening Auction New York 12 May Important Watches Geneva 13 May Important Chinese Works of Art London 13 May Contemporary Art Day Auction New York 13 May
Sotheby’s | Stack’s Bowers Galleries The D. Brent Pogue Collection of Early United States Coins — Sale 1 New York 19 May Finest & Rarest Wines London 20 May American Art New York 20 May Design Paris 21 May Photographs London 23 May Latin American Art Modern & Contemporary New York 26-27 May Impressionist & Modern Art New York 27 May Music, Continental & Russian Books & Manuscripts London 28 May
We invite you to explore our real estate listings at www.sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015
SINGLE FAMILY HOME
SALES PALM BEACH ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
167
28
$130,521,785
$4,661,492
$4,275,000
248
2014 FIRST QUARTER
195
30
$193,502,776
$6,450,093
$3,100,000
222
2014 QUARTERS 1-4
319
129
$753,843,501
$5,843,748
$3,450,000
206
2013 QUARTERS 1-4
381
157
$646,571,706
$4,118,291
$2,400,000
283
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
213
36
$26,251,625
$729,212
$401,250
139
2014 FIRST QUARTER
217
36
$34,812,025
$967,001
$715,000
169
2014 QUARTERS 1-4
435
165
$133,093,050
$806,625
$557,500
179
2013 QUARTERS 1-4
398
174
$103,086,712
$592,452
$410,000
151
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
23
4
$30,648,226
$7,662,056
$3,957,813
223
2014 FIRST QUARTER
22
4
$18,951,470
$4,737,868
$2,750,000
185
2014 QUARTERS 1-4
45
14
$62,913,475
$4,493,820
$2,564,752
220
2013 QUARTERS 1-4
53
11
$49,711,100
$4,519,191
$1,800,000
255
WEST PALM BEACH
MANALAPAN
*Days On Market
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SALES
CONDOMINIUM
PALM BEACH - IN TOWN ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
194
33
$46,589,000
$1,411,787
$900,000
180
2014 FIRST QUARTER
196
30
$34,099,800
$1,136,660
$787,500
219
2014 QUARTERS 1-4
342
118
$150,094,760
$1,271,989
$850,000
230
2013 QUARTERS 1-4
375
122
$133,517,295
$1,094,404
$680,000
258
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
339
63
$47,934,350
$760,862
$375,000
167
2014 FIRST QUARTER
395
49
$24,544,000
$500,897
$245,000
201
2014 QUARTERS 1-4
652
192
$100,560,475
$523,752
$312,500
221
2013 QUARTERS 1-4
799
219
$105,291,137
$480,781
$350,000
194
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2015 FIRST QUARTER
204
28
$21,280,800
$760,028
$484,000
139
2014 FIRST QUARTER
193
27
$11,703,000
$433,444
$315,000
178
2014 QUARTERS 1-4
357
98
$55,583,750
$567,181
$399,750
180
2013 QUARTERS 1-4
313
114
$58,373,294
$512,046
$342,500
232
PALM BEACH - SOUTH END
WEST PALM BEACH
*Days On Market
FEATURED LISTINGS
STUNNING LAKEFRONT REGENCY Northend, Palm Beach Web ID: 0076586 | $18,000,000
EVERGLADES ISLAND LAND Estate Section, Palm Beach Web ID: 0076596 | $8,950,000
PALM BEACH MEDITERREAN STYLE In-Town, Palm Beach Web ID: 0076514 | $3,400,000
FEATURED LISTINGS
SPECTACULAR SUNSETS South of Sloan’s Curve Web ID: 0076548 | $2,595,000
PENTHOUSE ONE AT ESPLANADE GRANDE West Palm Beach Web ID: 0076606 | $2,495,000
WORTH AVENUE PENTHOUSE In-Town, Palm Beach Web ID: 0076616 | $1,849,000
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS BROOKLYN, NY | Web: 0137422 | $3,000,000 HOUSTON, TX | Web: 1240193 | $3,125,000 SAN FRANCISCO, CA | Web: 0087107 | $3,000,000 RESORT MARKETS MALIBU, CA | Web: 0343640 | $3,450,000 PALM BEACH, FL | Web: 0076552 | $2,995,000 SANTA BARBARA, CA | Web: 0632331 | $3,495,000 FOREIGN MARKETS ARGENTINA | Web: YMBRP8 | $3,700,000 ITALY | Web: T9LLLE | $3,006,550 ISRAEL | Web: VW4J7F | $3,534,996 sothebysrealty.com