Palm Beach Market Update Q4 2015

Palm Beach, FL | web: 0076834

Palm Beach Market Update Fourth Quarter 2015 PALM BEACH BROKERAGE 340 Royal Poinciana Way Palm Beach, FL 33480 +1.561.659.3555 VICE PRESIDENT/BROKER MANAGER: Debra Reece sothebyshomes.com/palmbeach

A MESSAGE FROM OUR MANAGER: Debra Reece We are pleased to share the following statistics with you regarding the Palm Beach area. These statistics were gathered from the Palm Beach Multiple Listing Service and the data contained in this report shows the comparisons of Q4 2015 versus Q4 2014 as well as overall sales that took place for the full years 2015 versus 2014. Overall, the report shows that the Palm Beach area enjoyed a robust real estate market in 2015.

Almost all areas as shown in this Market Report had material price increases in both average sale price and median sale price in the fourth quarter of 2015 as compared to the same quarter of 2014.

Palm Beach proper had a 50% increase in the average sale price of single-family homes and a 33% increase in the median sale price. The average sale price of Palm Beach In-Town condominiums increased by 5%, the South End enjoyed an increase in the average sale price of 13% and the median price of 9%. In-Town condominiums saw a reduction in the the median price for the full year 2015 versus full year 2014 increased by 8%.

In the fourth quarter of 2015, West Palm Beach saw material increases in both the average sale price and the median price of condominiums, 26% and 9%, respectively. While the average sale price of single-family homes decreased by 10% and the median price also saw a small decrease of 3%.

The sale of condominiums was very strong and all areas had material increases in the number of units sold during the entire year 2015 compared to 2014. Specifically, 2015 compared to 2014 showed the following with respect to total units sold: Palm Beach In-Town +21%, Palm Beach South End +18% and West Palm Beach +24%.

SIGNIFICANT SALES | Q4 2015

MIZNER OCEANFRONT Web ID: 0075653 | Listed $22,000,000

STUNNING PALM BEACH TOWNHOUSE Web ID: 0076586 | Listed $6,800,000

IN-TOWN OCEANFRONT Web ID: 0076761 | Listed $5,500,000

PRISTINE PENDLETON AVENUE Web ID: 0076600 | Listed $4,700,000

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.

FEATURED LISTINGS

JUPITER EQUESTRIAN ESTATE| $19,900,000 | Web: 0076580 Situated on 50 acres of land in the gated community of Ranch Colony in Jupiter, Florida, the YZ Ranch is one of the most fantastic equestrian properties in all of South Florida. The main house consists of 5 bedrooms, 5 full baths, and 3 half baths overlooking a beautiful four acre private lake and a fully equipped eight stall stable. The main house is complete with a heated saltwater pool, a chef’s kitchen, a 1.000-bottle wine room, a safe room, a ground floor master, and an observation lounge and terrace with incredible views of the property. All three structures, the main house, guest house, and barn with living quarters were built to exceed Miami/ Dade hurricane specifications with impact glass, roll-up hurricane shutters and reinforced rebar concrete roofs, walls, and floors, and multiple generators. In addition to the eight stall stable, the equestrian facilities include a riding and jumping arena, eight turnout paddocks, and beautiful riding trails that wind through cypress and pine trees and pass by the internationally acclaimed Dye Preserve Golf Course on the western boundary of the property. Ranch Colony is surrounded by over 20,000 acres of nature preserves with plenty of access to riding trails, parks, and community trails for horseback riding enthusiasts.

SINGLE FAMILY HOME

SALES PALM BEACH ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

155

18

$134,422,131

$7,467,896

$5,400,000

270

2014 FOURTH QUARTER

148

23

$114,924,000

$4,996,696

$4,050,000

181

2015 QUARTERS 1-4

130

101

$548,137,587

$5,427,105

$4,200,000

255

2014 QUARTERS 1-4

323

312

$757,893,501

$5,829,950

$3,475,000

206

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

165

35

$22,799,800

$651,423

$485,000

168

2014 FOURTH QUARTER

210

39

$28,348,500

$726,885

$500,000

158

2015 QUARTERS 1-4

408

160

$115,516,983

$721,981

$462,000

154

2014 QUARTERS 1-4

445

167

$134,138,050

$803,222

$557,500

178

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

14

0

$0

$0

$0

0

2014 FOURTH QUARTER

26

2

$2,942,005

$1,471,002

$1,471,002

63

2015 QUARTERS 1-4

33

12

$107,178,226

$8,931,519

$4,150,313

253

2014 QUARTERS 1-4

47

14

$62,913,475

$4,993,820

$2,564,752

220

WEST PALM BEACH

MANALAPAN

*Days On Market

sothebyshomes.com/palmbeach

SALES

CONDOMINIUM

PALM BEACH - IN TOWN ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

148

26

$39,758,809

$1,529,184

$738,750

201

2014 FOURTH QUARTER

170

18

$26,161,850

$1,453,436

$999,625

221

2015 QUARTERS 1-4

337

143

$197,786,990

$1,383,125

$900,000

197

2014 QUARTERS 1-4

343

118

$142,679,760

$1,209,150

$837,500

236

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

262

39

$20,583,650

$527,785

$350,000

216

2014 FOURTH QUARTER

308

42

$19,632,999

$467,452

$322,000

315

2015 QUARTERS 1-4

603

232

$148,344,383

$639,415

$382,500

191

2014 QUARTERS 1-4

658

197

$103,970,474

$527,768

$310,000

225

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2015 FOURTH QUARTER

174

26

$14,074,400

$541,323

$390,000

165

2014 FOURTH QUARTER

179

20

$8,580,500

$429,025

$357,500

214

2015 QUARTERS 1-4

399

126

$76,714,612

$608,846

$432,500

171

2014 QUARTERS 1-4

361

102

$56,556,750

$554,477

$380,250

182

PALM BEACH - SOUTH END

WEST PALM BEACH

*Days On Market

FEATURED LISTINGS

ELEGANT NORTH END RESIDENCE Northend, Palm Beach Web ID: 0076826 | $6,600,000

IN-TOWN NEW CONSTRUCTION In-Town, Palm Beach Web ID: 0076836 | $4,800,000

GRACIOUS BERMUDA IN THE ESTATE SECTION Estate Section, Palm Beach Web ID: 0076788 | $4,395,000

FEATURED LISTINGS

PARC REGENT In-Town, Palm Beach Web ID: 0076822 | $5,750,000

WONDERFUL OCEAN VIEWS In-Town, Palm Beach Web ID: 0076777 | $1,650,000

WATERVIEW TOWERS West Palm Beach Web ID: 0076676 | $925,000

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 00110344 | $3,300,000 HOUSTON, TX | Web: 1240638 | $3,595,000 LOS ANGELES, CA | Web: 0355516 | $3,295,000 RESORT MARKETS MALIBU, CA | Web: 1300085 | $3,650,000 SAG HARBOR, NY | Web: 0046914 | $3,650,000 SANTA BARBARA, CA | Web: 0593005 | $3,750,000 FOREIGN MARKETS GERMANY | Web: YYRWLR | $3,584,619 ITALY | Web: EJTHMF | $3,475,994 ISRAEL | Web: FZMR3K | $3,857,132 sothebysrealty.com