MARKET UPDATE | Q4 2013 PALM BEACH, FL NOTABLE LISTING | PALM BEACH, FL
Although the Greater Palm Beach real estate market experienced varied results during the fourth quarter, I am pleased to report that the year ended on a positive note. In 2013, sold volume surpassed the prior year in almost every market except In Town condominiums. According to the Palm Beach MLS, Palm Beach Single-family home sales volume rose only slightly quarter over quarter. Year over year results were very strong with sales volume up 73 percent and number of the sales up 46 percent. In Town Condominium sales volume was down both in the quarter and for the year. The South End condo market had the strongest results in the condominium sector with a 32 percent gain quarter over quarter and 30 percent gain year over year.
Offered at $32,000,000 | 6 Bedrooms | 9 Baths | 2 Half Baths | WEB: 0076186
NOTABLE SALE | PALM BEACH, FL
The West Palm single-family home sector was robust in 2013 with sold volume increasing 47 percent quarter over quarter and 69 percent year over year. Condominium sales volume fell in the last quarter, but rose 45 percent for the year. Even with no sales of single family homes in Manalapan during the fourth quarter, 2013 still outperformed last year. Sold volume increased 28 percent year over year and units sold rose 83 percent.
PALM BEACH BROKERAGE 340 Royal Poinciana Plaza, Suite 337 Palm Beach, Florida 33480 Carol Hickman Vice President, Brokerage Manager t: 561.659.3555 carol.hickman@sothebyshomes.com
Offered at $34,900,000 | 7 Bedrooms | 8 Baths | 5 Half Baths | WEB: 0075170
SALES
SINGLE FAMILY HOME
PALM BEACH ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2013
160
27
$112,049,800
$4,149,993
$2,375,000
257
Fourth Quarter 2012
223
26
$107,300,050
$4,126,925
$2,775,000
294
Quarters 1-4 2013
377
155
$644,451,706
$4,157,753
$2,400,000
282
Quarters 1-4 2012
420
106
$371,446,778
$3,504,215
$2,360,000
258
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2012
185 180
41 35
$24,857,300 $16,801,750
$606,276 $480,050
$385,000 $370,000
143 162
Quarters 1-4 2013
398
170
$100,609,212
$591,819
$410,000
152
Quarters 1-4 2012
396
126
$59,432,250
$471,685
$350,000
169
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2013
26
0
0
0
0
0
Fourth Quarter 2012
37
3
$27,430,000
$9,143,333
$6,800,000
227
Quarters 1-4 2013
54
11
$49,711,100
$4,519,191
$1,800,000
255
Quarters 1-4 2012
55
6
$38,730,000
$6,455,000
$5,500,000
287
PRICE RANGE
WEST PALM BEACH PRICE RANGE Fourth Quarter 2013
MANALAPAN PRICE RANGE
* - Days on The Market
Source: Palm Beach Board of Realtors Multiple Listings Service. Information is believed to be true; no guaranty of accuracy is made
CURRENT LISTINGS BY PRICE RANGE: SFH OVER $1M
Palm Beach Bungalow 4 br, 3 ba Web ID: 0076105
UP TO $3M
North County Road 4 br, 4 ba Web ID: 0076169
OVER $5M
Stunning Townhome 4 br, 5.5 ba Web ID: 0076258
OVER $7M
Charming Estate Section 5 br, 7.5 ba Web ID: 0076206
OVER $10M
Mediterranean Beauty 5 br, 8.5 ba Web ID: 0076240
PALM BEACH BROKERAGE | 340 Royal Poinciana Way, Suite 337, Palm Beach, FL 33480 | sothebyshomes.com/palmbeach
SALES
CONDOMINIUM PALM BEACH - IN TOWN ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2013
184
32
$31,103,000
$971,969
$667,500
319
Fourth Quarter 2012
223
37
$47,396,925
$1,280,998
$660,000
418
Quarters 1-4 2013
374
122
$133,517,295
$1,094,404
$680,000
258
Quarters 1-4 2012
427
123
$137,630,619
$1,118,948
$720,000
299
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2013
388
35
$18,481,400
$528,040
$365,000
179
Fourth Quarter 2012
384
34
$14,044,575
$413,075
$316,500
184
Quarters 1-4 2013
792
214
$102,436,300
$478,674
$355,000
196
Quarters 1-4 2012
796
186
$78,621,375
$422,696
$312,500
205
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
Fourth Quarter 2013
159
10
$4,568,050
$456,805
$275,275
138
Fourth Quarter 2012
163
24
$9,853,160
$410,548
$332,680
218
Quarters 1-4 2013
308
112
$57,686,294
$515,056
$342,500
233
Quarters 1-4 2012
342
87
$39,900,361
$458,625
$310,000
240
PRICE RANGE
PALM BEACH - SOUTH END PRICE RANGE
WEST PALM BEACH PRICE RANGE
* - Days on The Market
Source: Palm Beach Board of Realtors Multiple Listings Service. Information is believed to be true; no guaranty of accuracy is made
CURRENT LISTINGS BY PRICE RANGE: CONDO UP TO $1M
Trump Plaza 2 br, 2 ba Web ID: 0076117
OVER $1M
Direct Oceanfront 2 br, 2.5 ba Web ID: 0076225
OVER $1M
Beautifully Renovated 3 br, 2 ba Web ID: 0076256
OVER $3M
Extraordinary Penthouse 2 br, 2.5 ba Web ID: 0076225
OVER $3M
Trump Plaza Penthouse 4 br, 4.5 ba Web ID: 0076197
ON THE MARKET FEATURED PROPERTY
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
PALM BEACH, FL
IN METROPOLITAN MARKETS
HOUSTON, SUGAR LAND
NEW YORK
LOS ANGELES
5 br / 5 ba / 2 hf ba $4,950,000
3 br / 2 ba / 1 hf ba $5,350,000
6 br / 9 ba $5,800,000
SANTA FE
PALM BEACH
VENTURA
5 br / 5 ba / 2 hf ba $4,800,000
3 br / 4 ba / 1 hf ba $4,700,000
5 br / 4 ba $5,195,000
SOUTH AFRICA
PUERTO RICO
AUSTRALIA
6 br / 6 ba $5,186,242
5 br / 5 ba / 2 hf ba $4,400,000
5 br / 4 ba / 1 hf ba Price Upon Request
IN RESORT MARKETS
Price: $9,975,000 Web: 0076242 Important Mediterranean home on a 25,000 square foot lot in the private enclave of Phipps Estates Palm Beach. No detail has been overlooked in this 5 bedroom 9 bath home built new in 2000. Beautifully proportioned living room and dining room with seating for 20. There is a classically elegant wood paneled library fit for a general. The large paneled family/media room has a pub style bar and a wine cellar for any collector.
IN FOREIGN MARKETS
AT SOTHEBY’S AUCTION
SOTHEBYS.COM
All the rooms open to lovely loggias and gardens overlooking the pool with beautiful coquina patios and marble fountains. There is a summer kitchen and bar in the loggia with pool bath.
SONGYE “FOUR HORN” COMMUNITY POWER FIGURE The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
THE PINK STAR Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30