Palm Beach, FL | web: 0076287
Palm Beach Market Update First Quarter 2014 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 I am pleased to provide a summary of sales activity in the Palm Beach area during the first quarter of 2014. The Palm Beach Multiple Listing Service reports the following quarter over quarter statistics: Palm Beach - Single family home and condominium sales remained strong during the first quarter of the year. Sold volume rose 40 percent during the quarter and the median sales price rose 12 percent to $3,150,000. Condominium sales were even more robust with sold volume increasing an impressive 90 percent In Town and 43 percent in the South End. Active listing inventory and days on market declined in both sectors. West Palm Beach - The single family home market experienced solid gains in West Palm Beach. Sold volume was up 33 percent and the median sales price rose 43 percent to $715,000. Condominium sales did not follow the same trend with sales volume falling 23 percent and median sales price declining slightly (two percent). Manalapan - Although single family home sales volume in Manalapan fell 36 percent, the median sales price rose 85 percent to $2,750,000. In addition, both listing inventory and days on market fell during the quarter.
SIGNIFICANT SALES | Q1 2014
BELLA VITA - OLD PALM GOLF CLUB Web ID: 0076003 | Listed $6,650,000
POLMER PARK REGENCY Web ID: 0076237 | Listed $5,950,000
STUNNING PALM BEACH TOWNHOME Web ID: 0076258 | Listed $5,595,000
JAMAICA LANE BEAUTY Web ID: 0076046 | Listed $4,395,000
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.
Auction & Exhibition Calendar 2014
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NEW YORK APRIL A Modern Library: The Gordon Waldorf Collection John James Audubon: The Birds of America, The Viviparous Quadrupeds of North America The Inventive Eye: Photographs from a Private Collection Photographs Important Russian Works of Art, European Silver, and Vertu American Paintings, Drawings & Sculpture Magnificent Jewels
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LONDON APRIL Made in Britain The Orientalist Sale Arts of the Islamic World Finest and Rarest Wines Furniture Collections Travel, Atlases, Maps & Natural History Old Master & British Paintings
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SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. AN EQUAL OPPORTUNITY COMPANY. EQUAL HOUSING OPPORTUNITY. EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED.
© MMXIV SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. ALL RIGHTS RESERVED. SOTHEBY’S INTERNATIONAL REALTY® IS A REGISTERED TRADEMARK LICENSED TO
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PARIS APRIL Picasso and the Nude: Fifty Drawings from the Marina Picasso Collection
Shown Above Left: WILLARD LEROY METCALF (1858 – 1925) A SEASIDE PASTURE SIGNED W L METCALF (LOWER LEFT) OIL ON CANVAS PAINTED IN 1910. 26 BY 29 INCHES (66 BY 73.7 CM) AMERICAN PAINTINGS, DRAWINGS & SCULPTURE NEW YORK 16 APRIL 2014
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com.
SINGLE FAMILY HOME
SALES PALM BEACH ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2014 FIRST QUARTER
192
29
$191,202,776
$6,593,199
$3,150,000
221
2013 FIRST QUARTER
235
33
$135,827,156
$4,115,974
$2,800,000
310
2013 QUARTERS 1-4
377
155
$644,451,706
$4,157,753
$2,400,000
282
2012 QUARTERS 1-4
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 *
2014 FIRST QUARTER
215
36
$34,812,025
$967,001
$715,000
155
2013 FIRST QUARTER
197
40
$26,146,512
$653,663
$500,000
153
2013 QUARTERS 1-4
398
170
$100,609,212
$591,819
$410,000
152
2012 QUARTERS 1-4
396
126
$59,432,250
$471,685
$350,000
169
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2014 FIRST QUARTER
23
4
$18,951,470
$4,737,868
$2,750,000
185
2013 FIRST QUARTER
35
5
$30,062,100
$6,012,420
$1,482,100
201
2013 QUARTERS 1-4
54
11
$49,711,100
$4,519,191
$1,800,000
255
2012 QUARTERS 1-4
55
6
$38,730,000
$6,455,000
$5,500,000
287
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 *
2014 FIRST QUARTER
187
28
$32,304,800
$1,153,742
$787,500
231
2013 FIRST QUARTER
218
20
$16,964,120
$848,206
$637,500
229
2013 QUARTERS 1-4
374
122
$133,517,295
$1,094,404
$680,000
258
2012 QUARTERS 1-4
427
123
$137,630,619
$1,118,948
$720,000
299
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2014 FIRST QUARTER
386
43
$21,314,500
$495,686
$260,000
206
2013 FIRST QUARTER
441
45
$14,865,262
$330,339
$232,500
177
2013 QUARTERS 1-4
792
214
$102,436,300
$478,674
$355,000
196
2012 QUARTERS 1-4
796
186
$78,621,375
$422,696
$312,500
205
ACTIVE LISTINGS
NUMBER SOLD
SOLD VOLUME
AVG. SALE PRICE
MEDIAN SALES PRICE
DOM *
2014 FIRST QUARTER
185
26
$11,123,000
$427,807
$310,000
182
2013 FIRST QUARTER
166
30
$14,401,766
$480,058
$316,000
226
2013 QUARTERS 1-4
308
112
$57,686,294
$515,056
$342,500
233
2012 QUARTERS 1-4
342
87
$39,900,361
$458,625
$310,000
240
PALM BEACH - SOUTH END
WEST PALM BEACH
*Days On Market
FEATURED LISTINGS
LA LOMA - IMPORTANT PALM BEACH ESTATE Web ID: 0076309 | $14,500,000
PHIPPS ESTATE Web ID: 0076242 | $9,975,000
LAKE BLOCK MEDITERRANEAN TOWNHOME Web ID: 0076324 | $4,995,000
FEATURED LISTINGS
DIRECT OCEANFRONT TOWNHOME Web ID: 0076251 | $4,700,000
RED CROSS DESIGNER SHOW HOUSE Web ID: 0076319 | $2,495,000
HARBOUR HOUSE Web ID: 0076228 | $561,000
ON THE MARKET
left to right from top to bottom:
IN METROPOLITAN MARKETS SAN FRANCISCO, CA | Web: 0086256 | $6,750,000 HOUSTON, TX | Web: 1230680 | $5,300,000 NEW YORK, NY | Web: 0018925 | $6,200,000 IN RESORT MARKETS BRIDGEHAMPTON, NY | Web: 0037334 | $5,950,000 BIG SUR, CA | Web: 0473646 | $5,500,000 OSTERVILLE, MA | Web: 0402787 | $4,295,000 IN FOREIGN MARKETS THAILAND | Web: SNBCEH | $5,500,000 GREECE | Web: SMM7RT | $5,242,826 UNITED KINGDOM | Web: D9YHVX | $4,947,230 sothebysrealty.com