Todd & Frances Peter Palm Beach Market Update
GEMINI
15-acre ocean-to-lake estate
Todd & Frances Peter Palm Beach Brokerage
In just a few short years, Todd and Frances Peter have become one of the top sales teams in both Palm Beach and the nation in terms of total sales volume. Frances Webster Peter has worked on some of the top listings and sales in Palm Beach over the last thirteen years. She began her real estate career in 2005, working closely with Cristina Condon, one of the top agents globally. Prior to joining Sotheby’s International Realty, Todd enjoyed a successful career with Ram Development of Palm Beach Gardens, The Related Group of Florida, and his own commercial and residential real estate brokerage firm. Prior to entering real estate, he spent over three years as an equity trader for Deutsche Bank, honing his negotiating skills which greatly benefit both the buyers and sellers he represents. As a lifelong resident of Palm Beach, Frances has a thorough understanding of this unique market and all that it has to offer. She possesses the highest respect for the discretion and integrity required by luxury real estate sales and has a deep and abiding commitment to the community. Todd earned a Master’s of Science in Real Estate from the Warrington College of Business at the University of Florida and his Bachelor’s Degree from Vanderbilt University, where he was captain of the varsity men’s tennis team. Todd and Frances live in Palm Beach with their two children. francesandtodd.com
phone
561 281 0031
todd.peter@sothebyshomes.com
phone
561 273 6128
frances.peter@sothebyshomes.com
Market Report
Market Snapshot Palm Beach
Single Family Homes
Highlight: ASP vs units Manalapan
$6.0
120
$5.0
100
$4.0
80
$3.0
60
$2.0
40
$1.0
20
$0.0
0
Total Volume 87 % 10 % 3%
Palm Beach West Palm Beach Manalapan
2018
2017
*Price in Millions
2016
Palm Beach
2015
t: ume
2014
West Palm Beach
Average Selling Price vs. Total Units Sold 405.2m $ 47.8m $ 13.5m $
*In Millions
Average Selling Price Total Units Sold
Highlighting Single Family Homes Palm Beach, West Palm Beach,
and Manalapan
Manalapan $14.0 $12.0 $10.0
Highlight: Units Sold
$8.0 $6.0
Highlights: Median Sale Price
West Palm Beach
Palm Beach
$4.0 $2.0
Median Selling Price 5.1m $ 0.7m $ 13.5m $
Palm Beach West Palm Beach Manalapan *In Millions
Manalapan
West Palm Beach
*Price in Millions
Palm Beach
$-
Total Units Sold 52 % 47 % 1%
Palm Beach West Palm Beach Manalapan
51 46 1
at a glance {Q2 | 2018}
palm beach
Single Family Homes
405m
$
Total Sales Volume
9
%
Change of Units Sold {2018 v 2017}
51 Units Sold
7.94m
$
Average Selling Price
SINGLE FAMILY HOMES | Q2 2018
Palm Beach Average Selling Price | Median Selling Price | Units Sold $9
60
$8
50
$7 $6
40
$5
30
$4 $3
20
$2
10
$1 $0
0
2014
2015
2016
2017
2018
*Price in Millions
Average Selling Price Median Selling Price
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
-2%
21%
7%
9%
2018
$7,945,623
$5,100,000
$405,226,780 51
2017
$8,072,791
$4,200,000
$379,421,166
2016
$6,985,574
$4,500,000
$230,523,958 33
2015
$5,085,187
$3,495,000
$167,811,175
2014
$5,565,433
$3,275,000
$272,706,234 49
Q2 {2018 v 2017}
Change
47
33
SINGLE FAMILY HOMES | Q2 2018
Manalapan Average Selling Price | Median Selling Price | Units Sold 6
$16 $14
5
$12 4
$10
3
$8 $6
2
$4 1
$2
0
$0
2014
2015
2016
2017
2018
*Price in Millions
Average Selling Price Median Selling Price
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
62%
62%
-19%
-50%
2018
$13,500,000
$13,500,000
$13,500,000
1
2017
$8,329,165
$8,329,165
$16,658,333
2
2016
$0
$0
$0
0
2015
$6,689,000
$3,000,000
$33,445,000
5
2014
$8,954,667
$7,914,000
$26,864,000
3
Q2 {2018 v 2017}
Change
at a glance {Q2 | 2018}
manalapan
Single Family Homes
13.5m
$
Total Sales Volume
-50
%
Change of Units Sold {2018 v 2017}
1
Units Sold
13.5m
$
Average Selling Price
at a glance {Q2 | 2018}
west palm beach Single Family Homes
47.8m
$
Total Sales Volume
12
%
Change of Units Sold {2018 v 2017}
46 Units Sold
1
$ m Average Selling Price
SINGLE FAMILY HOMES | Q2 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold $1.2
50 45
$1.0
40 35
$0.8
30
$0.6
25 20
$0.4
15 10
$0.2
5
$0.0
0
2014
2015
2016
2017
2018
*Price in Millions
Average Selling Price Median Selling Price
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
22%
23%
37%
12%
2018
$1,038,721
$692,500
$47,781,175
46
2017
$849,909
$561,500
$34,846,262
41
2016
$836,544
$453,000
$30,952,110
37
2015
$813,250
$510,000
$37,409,492
46
2014
$761,642
$557,000
$33,512,250
44
Q2 {2018 v 2017}
Change
Market Snapshot Palm Beach
Highlight: ASP vs units
Condominiums
200
$1.20
180 $1.00
West Palm Beach
$0.80
Palm Beach | South End
Palm Beach | In-Town
160
Highlight: Closed Volume
140 120 100
$0.60
80 $0.40
60 40
$0.20
20 0
Total Volume 54 % 26 % 19 %
Palm Beach | In-Town South End West Palm Beach
Average Selling Price vs. Total Units Sold 1.8m $ 7k $ 7k $
*In Thousands
Average Selling Price Total Units Sold
2018
2017
2016
2015
*Price in Millions
2014
$0.00
Highlighting Condominiums
Palm Beach In-Town, Palm Beach South End, and West Palm Beach
$1,400 $1,200 $1,000
West Palm Beach $800
Highlights: Median Sale PricePalm Beach | In-Town
$600
Palm Beach | South End
$400 $200
Median Selling Price $
1.23m $ 482k $ 440k
Palm Beach | In-Town South End West Palm Beach *In Thousands
West Palm Beach
Palm Beach | South End
*Price in Thousands
Palm Beach | In-Town
$-
Total Units Sold 33 % 39 % 28 %
Palm Beach | In-Town South End West Palm Beach
52 62 45
Highligh Units So
at a glance {Q2 | 2018}
palm beach | in-town Condominiums
93m
$
Total Sales Volume
11
%
Change of Units Sold {2018 v 2017}
52 Units Sold
1.79m
$
Average Selling Price
CONDOMINIUMS | Q2 2018
Palm Beach | In-Town Average Selling Price | Median Selling Price | Units Sold $2.0
70
$1.8
60
$1.6 50
$1.4 $1.2
40
$1.0 30
$0.8 $0.6
20
$0.4
10
$0.2 $0.0
0
2014 *Price in Millions
2015
2016
Average Selling Price Median Selling Price
2017
2018
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
4%
-6%
15%
11%
2018
$1,787,750
$1,237,500
$92,963,000
52
2017
$1,720,917
$1,312,500
$80,883,138
47
2016
$1,493,376
$850,000
$49,281,439
33
2015
$1,320,429
$1,075,000
$80,546,181
61
2014
$1,366,305
$1,025,000
$57,384,810
42
Q2 {2018 v 2017}
Change
CONDOMINIUMS | Q2 2018
South End Average Selling Price | Median Selling Price | Units Sold $2.0
70
$1.8
60
$1.6 50
$1.4 $1.2
40
$1.0 30
$0.8 $0.6
20
$0.4
10
$0.2 $0.0
0
2014
2015
2016
2017
2018
*Price in Thousands
Average Selling Price Median Selling Price
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
5%
-12%
3%
-2%
2018
$725,986
$482,500
$45,011,155
62
2017
$693,416
$550,000
$43,685,261
63
2016
$607,458
$502,000
$40,092,250
66
2015
$639,143
$456,000
$53,048,883
83
2014
$520,094
$350,000
$39,007,100
75
Q2 {2018 v 2017}
Change
at a glance {Q2 | 2018}
south end
Condominiums
45m
$
Total Sales Volume
-2
%
Change of Units Sold {2018 v 2017}
62 Units Sold
725k
$
Average Selling Price
at a glance {Q2 | 2018}
west palm beach Condominiums
33.3m
$
Total Sales Volume
32
%
Change of Units Sold {2018 v 2017}
45 Units Sold
740k
$
Average Selling Price
CONDOMINIUMS | Q2 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold $800
50 45
$700
40
$600
35
$500
30 25
$400
20
$300
15
$200
10
$100
5 0
$0
2014
2015
2016
2017
2018
*Price in Thousands
Average Selling Price Median Selling Price
Total Units Sold
S OT H E BYSH OME S.C OM/PALMB E AC H
Average Median Sold Selling Price Selling Price Volume
Units Sold
68%
24%
122%
32%
2018
$740,028
$440,000
$33,301,301
45
2017
$441,250
$355,000
$15,002,500
34
2016
$718,879
$462,275
$22,285,275
31
2015
$611,171
$460,000
$25,058,012
41
2014
$632,520
$407,500
$22,770,750
36
Q2 {2018 v 2017}
Change
Currently Offering
Gemini Manalapan Gemini, a 15-acre ocean-to-lake estate, stands alone in all of the Palm Beaches for its beauty, privacy, amenities and sheer scale. Offering a remarkable combination of 1,200 ± feet of dune-lined beach on the Atlantic with 1,300 ± feet of frontage on Lake Worth, Gemini is perched atop a dune, with 360-degree views. A true family compound, the estate offers a 12-bedroom main residence; two four-bedroom beachside cottages; the seven-bedroom Mango House; and a guest or staff house comprising four studios and apartments. In total there are more than 30 bedrooms. The centerpiece main residence offers 62,200 ± square feet with both ocean and lake views. Gemini offers an array of recreational amenities, including a swimming pool, PGA standard golf area, regulation tennis court, half basketball court, fitness center and spa. Pathways lead to the beach on the ocean as well as to a dock and pier on the lake for boating and water sports. The offering of this exclusive enclave affords a once in a generation opportunity to acquire a family compound that simply cannot be replicated. Offered at $138.8 million GEMINIPALMBEACH.COM
Seminole Beach Direct Oceanfront North Palm Beach Secluded on 1.4 gated acres in Seminole Landing is an estate of understated elegance and Caribbean inspiration. The 25,878-squarefoot residence takes full advantage of its oceanfront location, blurring the lines between indoors and out and allowing for the most pleasurable resortlike lifestyle. The style of British West Indies-with its breezy outdoor spaces and light-filled, view-focused interiorsoffered inspiration and was adapted for relaxed, refined modern living. The formal living and dining room is subdued and sophisticated, featuring ocean views, a warming fireplace, and disappearing glass walls that allow for effortless indoor-outdoor living. Elegantly styled and outfitted for culinary pursuits, the kitchen includes an island with a hidden television, a coffee bar, refrigerator drawers, a walk-in pantry, counter seating, and a breakfast area with a beach view. The adjoining family room gives way to an alfresco dining area. The grounds offer swaths of lush lawn, a swimming pool with a waterslide and a spa, lounge areas with fire pits, a half basketball court, and a putting green. The estate also encompasses a delightful “Cabana House� and a guesthouse that comprises two, two-bedroom apartments. The community offers proximity to the Seminole Golf Club and numerous other championship courses, completing the consummate Florida lifestyle. Offered at $49.5 million SEMINOLEBEACHROAD.COM
50-Acre Ranch Colony Estate Jupiter
JUPITEREQUESTRIANESTATE.COM
In the desirable gated community of Ranch Colony, this 50-acre estate is one of southern Florida’s most exceptional properties. In addition to a majestic Mediterranean-inspired residence overlooking a private four-acre lake, it features a heated saltwater pool, a guesthouse, currently an eight-stall barn with living quarters, a riding and jumping arena, eight turnout paddocks, three turnout structures, and riding trails winding through cypress and pine trees. Offered at $17,900,000
North Lake Way Modern Regency Palm Beach
742NLAKEWAY.COM
Completely re-built custom home on one of the highest elevation lots in all of Palm Beach. This exceptional modern regency home has 4 oversized bedrooms, 4 full baths and 2 half baths, and a total square footage of just over 6,000. Only the highest quality materials and finishes were used to complete this extraordinary home. Offered at $7.900,000
Brazilian Avenue Townhome Palm Beach
444BRAZILIAN.COM
This elegant townhome is ideally located in close proximity to Worth Avenue, the town docks, the beach, restaurants and shopping. The residence offers the ultimate in privacy with a gated entry and mature landscaping. Built in 1999, the 5,255Âą total square foot townhome has 3 bedrooms, 3 and a half baths, a lap pool and a 2-car garage. Offered at $5,900,000
Magnificent Waterfront Home West Palm Beach
SOUTHFLAGLERWATERFRONT.COM
Enjoy expansive views of Palm Beach and the intracoastal waterway from this spectacular home on South Flagler Drive. This recently renovated 6 bedroom, 6 bath Bermuda style home has beautiful water views from almost every room. The open living plan is light, bright and airy with beautiful newly refinished hardwood floors and updated fixtures throughout. Offered at $5.495,000
Waterview Towers West Palm Beach
WATERVIEWTOWERS1703.COM
A complete renovation was just finished on this beautiful two bedroom two bath unit with incredible views of the intracoastal waterway, Palm Beach, and the ocean beyond. Just a short walk or bike ride across the new bridge to Palm Beach and the newly renovated Royal Poinciana Plaza, this fantastic unit has it all. The property is also available fully furnished. Offered at $1,695,000
Ibis Isle Waterfront Palm Beach SOTHEBYSHOMES.COM/0077672
Fabulous water views and open living space in this direct intracoastal condo in Ibis Isle Palm Beach. This stunning contemporary renovation has 2 bedroom, 2 bathrooms. Top of the line finishes, gourmet kitchen with Miele and Sub Zero appliances, gorgeous built in cabinetry, and a large center island with seating. Beautiful honed marble floors throughout, and all impact glass doors and windows, including electric window shades/solar screens. All new electric, plumbing, custom lighting, and surround sound system. The apartment comes with two parking spaces, and a designated storage area. This condo is light, bright, and airy and must be seen in person to truly experience. Turnkey and priced to sell. Offered at $779,000
Select Sales
Todd & Frances’ Recent Sales
NORTH END OCEANFRONT ESTATE
$49.5 million CELINE DION’S OCEANFRONT COMPOUND
$38.5 million NORTH OCEAN BOULEVARD
$15.75 million 300 RIDGEVIEW
$15 million From left to right, top to bottom
Todd & Frances Peter 561 281 0031 | francesandtodd.com PALM BEACH BROKERAGE 340 Royal Poinciana Way, Suite 337, Palm Beach, FL 33480
© MMXVII Sotheby’s International Realty, Inc. All Rights Reserved. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. Operated by Sotheby’s International Realty, Inc. 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. Equal housing opportunity.