PA L M B E A C H
Q1 2018
THE FLOW Brought To You By Gary Pohrer 255 Clarke Avenue $12,950,000
ThePohrerGroup AT D O U G L A S E L L I M A N R E A L E S TAT E
$49M
HIGHEST SALE PRICE IN 2017
2017 ACTIVITY
Over the past 5 years the market has been consistently moving in a positive direction and 2017 is no different. 2017 saw an increase in both sales volume and number of sales despite a shrinking inventory. One of the most telling signs of confidence in the market is the activity of builders entering the market. We are already seeing this continuing trend in 2018 with multiple properties already under contract or sold to various Spec builders. One unexpected side effect of the Spec projects is the shrinking number of smaller, more affordable homes on the market due to them being demolished for much larger more expensive homes. Contact us today to find out exactly what your property’s value is in today’s market.
Palm Beach Condo Activity 2017
2016
2015
2014
2013
2012
1 YR
5 YR
10 YR
AVG Price per SQFT
$846
$791
$794
$645
$594
$555
6.95%
42.42%
9.16%
Median Price per SQFT
$680
$746
$765
$582
$500
$497
-8.85%
36.00%
3.66%
AVG Sale Price
$1,574,099 $1,284,676 $1,366,719 $1,263,275 $1,094,404 $1,118,948 22.53%
43.83%
9.18%
Median Sale Price
$950,000
$840,000
$899,500
$850,000
$680,000
$720,000
39.71%
0.80%
Number of Sales
118
82
146
119
122
123
AVG % of List Price Paid
86.60%
87.84%
89.92%
86.14%
84.06%
77.54%
Median % of List Price Paid
88.24%
87.695%
91.21%
87.32%
86.58%
79.12%
AVG Days on Market
252
192
243
314
326
382
SALES-TO-LIST PRICE
13.10%
SINGLE FAMILY SALES
ALL RESIDENTIAL
BY PRICE POINT 85.57%
86.07%
89.19%
86.72%
84.16%
78.56%
77.18%
76.07%
74.70%
82.55%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
6 8 24 63
2016
$15M+ $10M TO
$15M $5M TO
$10M UNDER $5M
12 11 29 60
2017
ROPERTY TYP E-
AM
CONDOS
F
SINGLE FAMILY & TOWNHOMES
19
AREA 3
28
Area 1 2017 Solds Area 1 Actives Area 2 2017 Solds Area 2 Actives Area 3 2017 Solds Area 3 Actives
69
AREA 2
12
2017 & CURRENT ACTIVES
17
116
PER SQAURE FOOT
- 20
SING LE
SA L
7
118
AVERAGE PRICE
E SALES HOM BY ILY A A RE
2
01
ES
P BY
AREA 1
LAND
$1,038 $1,434 $884 $1,074 $1,261 $1,754
Single Family & Townhome Wells Rd & North Activity (Area 1) 2017
2016
2015
2014
2013
2012
1 YR
5 YR
10 YR
AVG Price per SQFT
$1,050
$1,016
$989
$819
$670
$573
3.35%
57%
37.80%
Median Price per SQFT
$1,001
$935
$879
$752
$620
$528
7.1%
61%
36.56%
AVG Sale Price
$6,754,174 $6,781,342 $5,825,280 $4,538,560 $3,171,050 $2,867,499 -0.4%
113%
74.45%
Median Sale Price
$4,600,000 $3,750,000 $4,450,000 $3,375,000 $2,275,000 $2,150,000 22.7%
102%
61.33%
Number of Sales
69
51
47
62
88
59
AVG % of List Price Paid
85%
85.60%
89.57%
87.39%
87.36%
80.59%
Median % of List Price Paid
85.82%
87.69%
90.63%
88.11%
88.33%
81.79%
AVG Days on Market
299
235
258
209
297
345
Single Family & Townhome Worth Ave North to Wells Rd Activity (Area 2) 2017
2016
2015
2014
2013
2012
1 YR
5 YR
10 YR
AVG Price per SQFT
$1,005
$932
$905
$841
$616
$606
7.83%
63.15%
25.16%
Median Price per SQFT
$971
$960
$880
$788
$579
$570
1.15%
67.70%
19.43%
AVG Sale Price
$4,598,078 $3,871,049 $3,881,497 $4,504,551 $2,641,695 $2,630,306 18.78%
74.06%
20.45%
Median Sale Price
$3,352,000 $3,500,000 $3,837,500 $2,937,500 $2,025,000 $2,300,000 -4.23%
65.53%
3.14%
Number of Sales
28
33
44
50
47
36
AVG % of List Price Paid
88.01%
85.95%
87.70%
87.60%
80.51%
79.75%
Median % of List Price Paid
89.085%
89.41%
89.435%
90.48%
83.64%
81.575%
AVG Days on Market
417
282
255
241
453
406
Single Family & Townhome South of Worth Avenue to Sloan’s Curve Activity (Area 3) 2017
2016
2015
2014
2013
2012
1 YR
5 YR
10 YR
AVG Price per SQFT
$1,275
$1,167
$1,051
$1,148
$1,001
$915
9.25%
27.37%
20.17%
Median Price per SQFT
$1,206
$1,053
$933
$1,067
$878
$836
14.53%
37.36%
6.16%
AVG Sale Price
$13,037,434 $10,182,805 $8,544,905
$11,586,048
$10,582,171 $7,305,319 28.03%
23.20%
43.43%
Median Sale Price
$10,600,000 $8,750,000 $6,500,000
$7,862,500 $8,062,500 $5,759,375 21.14%
31.47%
37.89%
Number of Sales
19
17
15
24
24
18
AVG % of List Price Paid
77.62%
79.18%
85.22%
86.03%
80.05%
81.94%
Median % of List Price Paid
81.73%
80.80%
87.74%
85.21%
82.05%
82.60%
AVG Days on Market
496
404
506
256
448
423
Complete data analysis done using the Palm Beach Board MLS. Search date 04/05/2018 for all sold transactions recorded in sections: 01 (Wells Rd & North), 02 (Worth Ave North to Wells Rd), & 03 (South of Worth Ave to Sloans Curve).
THE POHRER PORTFOLIO
Winter Haven Farm - $15,500,000
Clarke Ave - $12,950,000
Clarke Ave - $12,500,000
Esplanade Way - $5,850,000
Old Palm Golf Club - $7,900,000
Brazilian Ave - $6,895,000
ADMIRAL’S COVE - $5,495,000
Seaspray Ave - $4,950,000
Orange Grove Rd - $2,700,000
Full Property Deatils at
ThePohrerGroup.com Contact us today for a private and no obligation review of your propety’s value.
GARY POHRER
Gary Pohrer ranked #1 for sales volume in 2017 for all of Palm Beach & Jupiter at Douglas Ellliman.
Director of Luxury Sales M: 561.262.0856 gary.pohrer@elliman.com thepohrergroup.com 1111 LINCOLN RD, MIAMI BEACH, FL 33139. 305.695.6300 © 2018 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.