Palm Beach Market Update | Q1 2014

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

16 29

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

1 8 9 16 29 29 30

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

1 1

2 8

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