Todd & Frances Peter Palm Beach Market Update
GEMINI
Manalapan
Todd & Frances Peter Senior Global Real Estate 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
$4.5
70
$4.0
West Palm Beach
60
$3.5
West Palm Beach
ht: olume
50
$3.0
Palm Beach
$2.5
40
$2.0
30
$1.5
20
$1.0 10
$0.5
0
Total Volume 68 % 32 %
Palm Beach West Palm Beach
Average Selling Price vs. Total Units Sold 79.1m $ 37.8m
$
*In Millions
Average Selling Price Total Units Sold
2018
2017
2016
2015
2014
$0.0 *Price in Millions
Highlighting Single Family Homes Palm Beach and West Palm Beach
$14 $12
Palm Beach
$10
Highlight: Units Sold
$8 $6
Highlights: Median Sale Price West Palm Beach
$4 $2
Median Selling Price 4.5m $ 0.6m $
West Palm Beach
*Price in Millions
Palm Beach
$-
Palm Beach West Palm Beach
Total Units Sold 27 % 73 %
Palm Beach West Palm Beach
22 25
*In Millions
Q4 Market Snapshot
/ Palm Beach Q4 Market Update
at a glance {Q4 | 2018}
palm beach
Single Family Homes
79.1m
$
Total Sales Volume
-38
%
Change of Units Sold {2018 v 2017}
13 Units Sold
6.1m
$
Average Selling Price
SINGLE FAMILY HOMES | Q4 2018
Palm Beach Average Selling Price | Median Selling Price | Units Sold $10
25
$9 20
$8 $7 $6
15
$5 $4
10
$3 $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
-31%
-34%
-57%
-38%
2018
$6,086,808
$4,480,000
$79,128,500
13
2017
$8,786,930
$6,750,000
$184,525,536 21
2016
$4,149,792
$2,982,500
$66,251,232
16
2015
$7,467,896
$5,400,000
$134,422,131
18
2014
$4,996,696
$4,050,000
$114,924,000 23
Q4 {2018 v 2017}
Change
Palm Beach Single Family Homes
/ Palm Beach Q4 Market Update
at a glance {Q4 | 2018}
west palm beach Single Family Homes
37.8m
$
Total Sales Volume
38
%
Change of Units Sold {2018 v 2017}
36 Units Sold
1.05m
$
Average Selling Price
SINGLE FAMILY HOMES | Q4 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold $1.2
45 40
$1.0
35
$0.8
30 25
$0.6
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
95%
32%
170%
38%
2018
$1,051,262
$622,000
$37,845,450
36
2017
$539,285
$470,000
$14,021,410
26
2016
$549,570
$356,000
$20,883,650
38
2015
$651,423
$485,000
$22,799,800
35
2014
$726,885
$500,000
$28,348,500
39
Q4 {2018 v 2017}
Change
West Palm Beach Single Family Homes
/ Palm Beach Q4Market Update
Market Snapshot Palm Beach
Highlight: ASP vs units
Condominiums
$1.20
100 90
$1.00
West Palm Beach
Palm Beach | In-Town
$0.80
80
Highlight: Closed Volume
70 60
$0.60
50 40
$0.40
30
Palm Beach | South End
20
$0.20
10 $0.00
Total Volume 34 % 33 % 33 %
Palm Beach | In-Town South End West Palm Beach
Average Selling Price vs. Total Units Sold 1.2m $ .7m $ 1.3m $
*In Millions
Average Selling Price Total Units Sold
2018
2017
2016
2015
2014
*Price in Millions
0
Highlighting Condominiums
Palm Beach In-Town, Palm Beach South End, and West Palm Beach
$900 $800 $700
West Palm Beach
$600 $500
Palm Beach | In-Town
Highlights: Median Sale Price
Highlig Units S
$400
Palm Beach | South End
$300 $200 $100
Median Selling Price 850k $ 642k $ 440k
$
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 28 % 46 % 26 %
Palm Beach | In-Town South End West Palm Beach
22 36 20
*In Thousands
Q4Market Snapshot
/ Palm Beach Q4 Market Update
at a glance {Q4 | 2018}
palm beach | in-town Condominiums
27m
$
Total Sales Volume
57
%
Change of Units Sold {2018 v 2017}
22 Units Sold
1.2m
$
Average Selling Price
CONDOMINIUMS | Q4 2018
Palm Beach | In-Town Average Selling Price | Median Selling Price | Units Sold $1.8
30
$1.6 25
$1.4 $1.2
20
$1.0 15 $0.8 $0.6
10
$0.4
5
$0.2 $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
-10%
7%
41%
57%
2018
$1,226,332
$850,000
$26,979,325
22
2017
$1,362,607
$793,500
$19,076,504
14
2016
$1,577,625
$1,126,250
$18,931,500
12
2015
$1,474,733
$712,500
$39,817,809
27
2014
$1,453,436
$999,625
$26,161,850
18
Q4 {2018 v 2017}
Change
Palm Beach In-Town Condominiums
/ Palm Beach Q4 Market Update
CONDOMINIUMS | Q4 2018
South End Average Selling Price | Median Selling Price | Units Sold $800
45
$700
40 35
$600
30
$500
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
43%
89%
56%
9%
2018
$726,757
$642,000
$26,163,280
36
2017
$508,543
$340,000
$16,781,944
33
2016
$654,560
$400,000
$16,364,000
25
2015
$527,785
$350,000
$20,583,650
39
2014
$467,452
$322,000
$19,632,999
42
Q4 {2018 v 2017}
Change
Palm Beach Q4 Market Update / South End Condominiums
at a glance {Q4 | 2018}
south end
Condominiums
26.2m
$
Total Sales Volume
9
%
Change of Units Sold {2018 v 2017}
36 Units Sold
727k
$
Average Selling Price
at a glance {Q4 | 2018}
west palm beach Condominiums
26.5m
$
Total Sales Volume
5
%
Change of Units Sold {2018 v 2017}
20 Units Sold
1.3m
$
Average Selling Price
CONDOMINIUMS | Q4 2018
West Palm Beach Average Selling Price | Median Selling Price | Units Sold $1,400 40 35
$1,200
30
$1,000
25 $800 20 $600 15 $400
10
$200
5
$0
0
*Price in Thousands 2014
2015
2016
2017
Average Selling Price Median Selling Price
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
19%
31%
26%
5%
2018
$1,325,445
$440,000
$26,508,900
20
2017
$1,110,342
$335,000
$21,096,500
19
2016
$521,708
$341,000
$18,781,500
36
2015
$537,100
$420,000
$15,575,900
29
2014
$429,025
$357,500
$8,580,500
20
Q4 {2018 v 2017}
Change
West Palm Beach Condominiums
/ Palm Beach Q4 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 $17,750,000
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 $7.500,000
North End Regency Cabana Street Palm Beach
1225NORTHLAKEWAY.COM
North end Regency style home situated on an oversized corner lot on North Lake Way and Mockingbird. Located only one house from the Intracoastal, the home has easy access to the Lake Trail and also has ocean access at the end of the street through the Mockingbird beach cabana. Offering 3,967 total square feet with 4-bedrooms, 5-full baths, a two car garage and pool. Offered at $4.295,000
Sutton Place Direct Intracoastal Palm Beach SUTTONPLACE108N.COM
Sensational direct Intracoastal views from this spacious 2-bedroom, 2-bath apartment located on the lanai level with floor-to-ceiling doors and windows looking out to an expansive waterfront terrace and gardens. Kitchen has granite countertops, breakfast area and doors leading outside. Sutton Place has recently completed upgrades to the lobby, hallways, elevators, pool and gym. Offered at $749,000
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 $749,000
Beautiful North End Rental Palm Beach SOTHEBYSHOMES.COM/0077806
Wonderful north-end rental with 4 bedrooms, 5 1/2 baths plus a Library/5th bedroom with en-suite bath. Amazing loggia with retractable screens, tv, dining and seating area overlooking the pool, spa and coquina terrace. Large family room opens to the built-in breakfast area and kitchen. Master bedroom located on first floor with dual bathrooms and a walk-in closet. Three guest bedrooms with en-suite baths and closets located on the 2nd floor. Deeded beach access, generator and 2-car garage. Offered at $40,000/Month
Elegant North End Rental Palm Beach SOTHEBYSHOMES.COM/0077901
Beautiful north end home available weekly during season or for the month of March. Available for a Christmas/New Year’s Rental starting December 17th. Also available for Easter. Elegantly furnished with 4 Bedrooms, 5 full baths, a large outdoor loggia with summer kitchen and pool. Offered at $15,000/Weekly
Select Sales NORTH END OCEANFRONT ESTATE
$49.5 million
Todd & Frances’ Recent Sales PENDING
WATER VIEW TOWERS
$1.695 million MAGNIFICENT WATERFRONT HOME
$5.495 million BRAZILIAN AVENUE TOWNHOME
$5.9 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.