PALM BEACH
THE FLOW
Q2 - 2018
BROUGHT TO YOU BY GARY POHRER 274 ORANGE GROVE $3,100,000
2018 Recap Over the past year, the market in general has seen a consistent trend upwards especially in land sales. The North End (Area 1) and Midtown (Area 2) have seen values rise to record prices for tear-downs or empty lots rivaling the PPSF of the Estate Section (Area 3). Many Buyers have become frustrated with the lack of acceptable inventory which has brought developers back into the market. It looks to be a steady summer with a lot of construction. If you would like to have a more in-depth discussion about a specific property or area, please don’t hesitate to call me at 561.262.0856, otherwise I hope you enjoy this report.
The Pohrer Group 2018 Activity Area
Client
Price
341 Eden Road
Area 1
Seller
$3,397,000
165 Seaspray Avenue
Area 2
Buyer
$3,668,000
310 Valencia Road
Out of Town
Buyer
$670,000
1731 W. Hemingway Drive
Out of Town
Buyer
$1,600,000
226 Fairview Road
Area 2
Buyer
$3,125,000
2784 S. Ocean Blvd. 108-N
Area 4
Buyer
$1,060,000
2575 Natures Way
Out of Town
Seller
$820,000
3170 S. Ocean Blvd. 403-N
Area 4
Buyer
$1,175,000
412 Brazilian Avenue
Area 2
Seller
$6,362,500
211 Caribbean Road
Area 1
Buyer
$3,697,000
100 Sunrise Avenue 421
Area 2
Buyer
$1,385,000
119 Reef Road
Area 1
Seller
$3,021,750
Q2-2018
Q1-2018
Q2-2017
Number of Sales
50
42
47
AVG Sold Price Per Sf
$848
$839
$928
Median Sold Price Per Sf
$768
$748
$837
AVG Sale Price
$1,802,870
$1,621,373
$1,720,917
Median Sale Price
$1,237,500
$1,112,500
$1,720,917
AVG % of List Price Paid
87.93%
87.84%
89.92%
Median % of List Price Paid
90.01%
90.62%
87.23%
AVG Cumulative Days on Market
255
237
244
Palm Beach Condo Activity
SINGLE FAMILY HOMES
SALES-TO-LIST PRICE
By Price Point
All Residential
86.73%
85.36%
86.30%
90.31%
87.73%
82.82%
79.79%
77.84%
78.12%
72.36%
2009 2010 2 011 2012 2013 2014 2015 2016 2017 2018
7 4 16 24
Q2-2018
$15M+ $10M TO
$15M $5M TO
$10M UNDER $5M
7 4 10 25
Q2-2017
9
18
AREA 3
35
13
AREA 1
AREA 2
3
AVERAGE PRICE - 20
57
SINGLE FAMILY & TOWNHOMES
F
SA L
8
50
CONDOS
AM
A RE
2
E SALES HOM BY ILY A
SING LE
ROPERTY TYP E-
01
ES
P BY
Per Square Foot
Q2-2018 & CURRENT ACTIVES Area 1 Q2-2018 Solds $952 Area 1 Q2-2018 Actives $1,529 Area 2 Q2-2018 Solds $870 Area 2 Q2-2018 Actives $1,119 Area 3 Q2-2018 Solds $1,440
LAND
Area 3 Q2-2018 Actives $1,795 Area 1: Wells Road & North Area 2: Worth Avenue North to Wells Road Area 3: South of Worth Avenue to Sloan’s Curve
Single Family & Townhome Activity Wells Rd & North (Area 1)
Q2-2018
Q1-2018
Q2-2017
Number of Sales
35
17
31
AVG Sold Price Per Sf
$952
$1,180
$1,074
Median Sold Price Per Sf
$901
$949
$1,008
AVG Sale Price
$5,626,866
$8,133,213
$6,913,173
Median Sale Price
$4,850,000
$4,212,000
$3,922,500
AVG % of List Price Paid
86.90%
84.09%
86.19%
Median % of List Price Paid
88.14%
84.69%
86.63%
AVG Cumulative Days on Market
307
267
220
Q2-2018
Q1-2018
Q2-2017
Number of Sales
13
12
12
AVG Sold Price Per Sf
$967
$963
$1,160
Median Sold Price Per Sf
$856
$863
$1,130
AVG Sale Price
$3,815,124
$3,859,416
$5,211,683
Median Sale Price
$3,400,000
$3,509,000
$3,175,000
AVG % of List Price Paid
86.7%
85.89%
87.7%
Median % of List Price Paid
86.98%
86.37%
88.59%
AVG Cumulative Days on Market
238
365
517
Worth Ave North to Wells Rd (Area 2)
South of Worth Avenue to Sloan’s Curve (Area 3) Q2-2018
Q1-2018
Q2-2017
Number of Sales
9
6
5
AVG Sold Price Per Sf
$1,440
$1,298
$1,693
Median Sold Price Per Sf
$1,431
$1,094
$1,423
AVG Sale Price
$20,302,516
$11,188,666
$22,035,516
Median Sale Price
$18,250,000
$10,300,000
$20,384,000
AVG % of List Price Paid
79.45%
84.14%
79.44%
Median % of List Price Paid
81.25%
90.06%
81.73%
AVG Cumulative Days on Market
463
293
236
Complete data analysis done using the Palm Beach Board MLS. Search date 07/02/2018 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 PORTFOL I O MORE PROPERTY DETAILS AT THEPOHRERGROUP.COM
Winter Haven Farm - $15,500,000
255 Clarke Ave - $12,950,000
315 Clarke Ave - $12,500,000
PENDING
200 Esplanade Way - $5,850,000
Old Palm Golf Club - $7,900,000
REDUCED
Admiral’s Cove - $5,495,000
PENDING
165 Seaspray Ave - $4,500,000
262 Orange Grove Rd - $2,700,000
345 S Bromeliad - $579,000
PENDING
274 Orange Grove Rd - $3,100,000
2700 N. Ocean Dr - $1,800,000
345 Potter Road - $995,000
Contact us today for a private and no obligation review of your property’s value.
GARY POHRER Director of Luxury Sales M: 561.262.0856 | gary.pohrer@elliman.com
elliman.com/florida
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.