Todd & Frances Peter Palm Beach Market Update
SEMINOLE BEACH DIRECT OCEANFRONT
Secluded on 1.4 acres
Todd & Frances Peter Senior Global RealEstate Advisors Palm Beach Brokerage
Todd and Frances Peter are among the top luxury real estate agents in Palm Beach and the nation. They represent many premier listings on the market and have an impeccable track record of success across countless high-end sales and rental transactions. Their ability to excel in an ever-changing market, while remaining steadfastly committed to their clients has elevated them among their peers. They possess the highest respect for the discretion and integrity required by luxury real estate sales. Through a combination of hard work, talent and professionalism, they have developed a brand that instills confidence and trust. Todd has been recognized year-over-year as one of the top 500 agents by NRT out of more than 50,000 sales associates. A graduate of Vanderbilt University, where he was captain of the men’s varsity tennis team, Todd earned his master’s degree in real estate and has enjoyed success in equity trading, development, and the marketing and sale of commercial and luxury residential real estate—all of which provided him with well-honed negotiating skills that benefit both buyers and sellers. A lifelong resident of Palm Beach, Frances began her real estate career in 2005 and has a thorough understanding of this unique market and all it has to offer. With a background in art history, she has a keen eye for architecture and interior design and delights in curating properties for new and existing clients to match their real estate needs. Frances and Todd are also members the Sotheby’s International Realty Market Leaders Group, which is an elite network of the Top 40 Sotheby’s International Realty real estate agents in the country. Together, their warm, cheerful demeanor makes them a joy to work with. 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
$3.0
60
$2.5
50
$2.0
40
$1.5
30
$1.0
20
$0.5
10
$0.0
0
*Price in Millions
Total Volume 88 % 12 %
Palm Beach West Palm Beach
Average Selling Price vs. Total Units Sold 146.9m $ 20.6m $
*In Millions
Average Selling Price Total Units Sold
2018
70
2017
$3.5
2016
Palm Beach
80
2015
e
$4.0
2014
West Palm Beach
Highlighting Single Family Homes Palm Beach and West Palm Beach
$14 $12 $10
Highlight: Units Sold
$8
Palm Beach
Highlights: West Palm Beach Median Sale Price
$6 $4 $2
Median Selling Price 4.0m $ 0.6m
$
West Palm Beach
*Price in Millions
Palm Beach
$-
Palm Beach West Palm Beach
Total Units Sold 47 % 53 %
Palm Beach West Palm Beach
22 25
*In Millions
Q3 Market Snapshot
/ Palm Beach Q3 Market Update
at a glance {Q3 | 2018}
palm beach
Single Family Homes
147m
$
Total Sales Volume
5
%
Change of Units Sold {2018 v 2017}
22 Units Sold
6.7m
$
Average Selling Price
SINGLE FAMILY HOMES | Q3 2018
Palm Beach Average Selling Price | Median Selling Price | Units Sold $8
30
$7
25
$6 20
$5 $4
15
$3
10
$2 5
$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
29%
6%
36%
5%
2018
$6,677,383
$3,975,000
$146,902,425 22
2017
$5,157,902
$3,750,000
$108,315,941
2016
$6,275,708
$4,175,000
$138,065,567 22
2015
$5,223,068
$4,185,000
$114,907,496
22
2014
$6,312,875
$4,150,000
$176,760,491
28
Q3 {2018 v 2017}
Change
21
Palm Beach Single Family Homes
/ Palm Beach Q3 Market Update
at a glance {Q3 | 2018}
west palm beach Single Family Homes
20.6m
$
Total Sales Volume
-19
%
Change of Units Sold {2018 v 2017}
25 Units Sold
824k
$
Average Selling Price
SINGLE FAMILY HOMES | Q3 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold $0.9
60
$0.8
50
$0.7 $0.6
40
$0.5
30
$0.4 $0.3
20
$0.2
10
$0.1 $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
11%
-5%
-10%
-19%
2018
$824,240
$550,000
$20,606,000
25
2017
$742,282
$578,000
$23,010,750
31
2016
$622,229
$392,500
$29,867,000
48
2015
$724,002
$462,000
$31,856,066
44
2014
$780,527
$512,500
$37,465,275
48
Q3 {2018 v 2017}
Change
West Palm Beach Single Family Homes
/ Palm Beach Q3 Market Update
Market Snapshot
Highlight: ASP vs units
Condominiums
120
$1.00
100
$0.80
West Palm Beach
40
$0.20
20
$0.00
0
16 % 36 % 48 %
Palm Beach | In-Town South End West Palm Beach
Average Selling Price vs. Total Units Sold 9m $ .8m $ 1.5m $.
*In Millions
Average Selling Price Total Units Sold
2018
$0.40
2017
60
*Price in Millions
Total Volume
80
$0.60
2016
Palm Beach | South End
Highlight: Closed Volume
2015
Palm Beach | InTown
$1.20
2014
Palm Beach
Highlighting Condominiums
Palm Beach In-Town, Palm Beach South End, and West Palm Beach
$900 $800
Palm Beach | In-Town
$700 $600
Highlig Units S
West Palm Beach
$500
Highlights: Median Sale Price
$400
Palm Beach | South End
$300 $200 $100
Median Selling Price 775k $ 465k $ 540k
$
Palm Beach | In-Town South End West Palm Beach
West Palm Beach
Palm Beach | South End
*Price in Thousands
Palm Beach | In-Town
$-
Total Units Sold 18 % 50 % 32 %
Palm Beach | In-Town South End West Palm Beach
15 42 27
*In Thousands
Q3Market Snapshot
/ Palm Beach Q3 Market Update
at a glance {Q3 | 2018}
palm beach | in-town Condominiums
14.2m
$
Total Sales Volume
-21
%
Change of Units Sold {2018 v 2017}
15 Units Sold
949k
$
Average Selling Price
CONDOMINIUMS | Q3 2018
Palm Beach | In-Town Average Selling Price | Median Selling Price | Units Sold $1.4 35 $1.2
30
$1.0
25
$0.8
20
$0.6
15
$0.4
10
$0.2
5
$0.0
0
*Price in Millions 2014
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
-25%
-18%
-41%
-21%
2018
$949,633
$775,000
$14,244,500
15
2017
$1,269,973
$940,000
$24,129,500
19
2016
$981,647
$645,000
$16,688,000
17
2015
$1,303,520
$890,000
$32,588,000
25
2014
$1,127,010
$633,075
$32,683,399
29
Q3 {2018 v 2017}
Change
Palm Beach In-Town Condominiums
/ Palm Beach Q3 Market Update
CONDOMINIUMS | Q3 2018
South End Average Selling Price | Median Selling Price | Units Sold $800
50 45
$700
40
$600
35
$500
30
$400
25 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
54%
24%
54%
0%
2018
$752,782
$465,000
$31,616,880
42
2017
$488,221
$376,250
$20,505,300
42
2016
$593,937
$475,000
$20,787,800
35
2015
$591,329
$274,500
$26,018,500
44
2014
$670,528
$330,000
$20,786,375
31
Q3 {2018 v 2017}
Change
Palm Beach Q3 Market Update / South End Condominiums
at a glance {Q3 | 2018}
south end
Condominiums
31.6m
$
Total Sales Volume
0
%
Change of Units Sold {2018 v 2017}
42 Units Sold
752k
$
Average Selling Price
at a glance {Q3 | 2018}
west palm beach Condominiums
41.6m
$
Total Sales Volume
13
%
Change of Units Sold {2018 v 2017}
27 Units Sold
1.5m
$
Average Selling Price
CONDOMINIUMS | Q3 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold 35
$1,800 $1,600
30
$1,400 25
$1,200 $1,000
20
$800
15
$600
10
$400 5
$200
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
206%
34%
244%
13%
2018
$1,541,674
$540,000
$41,625,217
27
2017
$503,967
$402,500
$12,095,225
24
2016
$465,200
$357,500
$13,956,000
30
2015
$522,621
$430,000
$14,633,400
28
2014
$710,657
$450,000
$13,502,500
19
Q3 {2018 v 2017}
Change
West Palm Beach Condominiums
/ Palm Beach Q3 Market Update
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 $137.5 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
Admirals Cove Waterfront Jupiter Located in the prestigious gated community of Admirals Cove, this stunning Mediterranean style home is situated on 225’ of water frontage on a direct Intracoastal point lot with panoramic views of the waterway. Offering the ultimate in luxury and privacy, the property boasts exquisite details throughout and provides the best of indoor and outdoor living. Built in 2000, the 15,619± total square foot residence has 5 bedrooms, 7 full baths and 1 half bath with spacious outdoor loggias, a waterfront pool, a dock located on a protected canal, a 3-car garage with an additional golf cart bay, a brand new full house generator, hurricane impact doors and windows, and much more. Admirals Cove has every amenity imaginable from 45 holes of golf, 2 driving ranges, 2 club houses, a marina, a gym, restaurants, a salon and spa, a new tennis complex with tennis and pickle ball courts, playgrounds and children’s programs, dog parks, additional car storage, and full time security. Offered at $13.9 million 207COMMODOREDRIVE.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
New Custom Estate in Old Palm Palm Beach Gardens
OLDPALMCUSTOMESTATE.COM
Recently completed by Couture Homes, this new construction masterpiece captures the essence of modern Florida living. Situated on over an acre of land overlooking the Old Palm golf course, the home gracefully incorporates functional outdoor living spaces and beautiful interiors with clean lines and only the finest custom finishes. Offered at $9.100,000
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
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
Palmsea Direct Oceanfront Palm Beach SOTHEBYSHOMES.COM/0077813
Enjoy spectacular direct ocean views from every room of this completely renovated 2-bedroom, 2-bath condominium. The oceanfront living and dining area has a wet bar with mini fridge, and doors leading to the oceanfront balcony. The balcony has space for lounging and dining al fresco. The Kitchen has brand new appliances, ample storage, and opens to the main living and dining area with water views beyond. Building amenities include an oceanfront pool, deeded beach access, a gym, pool house/club house, outdoor grill area and doorman. Offered at $795,000
Select Sales
Todd & Frances’ Recent Sales
NORTH END OCEANFRONT ESTATE
$49.5 million MAGNIFICENT WATERFRONT HOME
$5.495 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
© MMXVIII 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.