Q Palm Beach. Market Update. PALM BEACH 226vialinda.com Offered at $4,195,000

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1 Q Palm Beach Market Update PALM BEACH 226vialinda.com Offered at $4,195,000

2 a message from Debra Reece Brokerage Manager We invite you to review our summary of sales activity in the Palm Beach area during the third quarter of 2017 that we have compiled using data aggregated from the Palm Beach Multiple Listing Service. Condominiums represented the strongest sector of the Palm Beach real estate market during this period. Within this market sector, the average selling price of in-town condominiums jumped 36% higher over the third quarter of 2016, resulting in total dollar volume that posted a substantial 28% gain despite 6% fewer sales. In Palm Beach s South End, the total number of condominiums sold was up 17% over the third quarter of 2016, offsetting the average selling price decline of 17% and resulting in total dollar volume that held nearly steady in a year-over-year comparison. However, the number of single-family homes sold in Palm Beach pulled back 18% from the level of the third quarter of 2016, with the average selling price 16% lower and total dollar volume 32% lower in a year-overyear comparison. As always, our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Palm Beach market, please do not hesitate to reach out to me at (561) sothebyshomes.com/palmbeach phone debra.reece@sothebyshomes.com All data within this document is pulled from the Palm Beach Board of Realtors Multiple Listings Service. Information is believed to be true; no guaranty of accuracy is made. Sotheby s International Realty and the Sotheby s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. 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.

3 Only With Us PALM BEACH NORTHEND Offered at $8,395,000 sothebyshomes.com/palmbeach We invite you to explore our exclusive offerings at S OT H E BYS H O M E S.C O M /PALM B EACH

4 Market Snapshot Palm Beach Single Family Homes Manalapan $3.0 $ $ $ t: ume Palm Beach $1.0 $ $0.0 0 *Price in Millions Total Volume vs. Total Units 76 % 19 % 5 % Palm Beach Manalapan $ 94.6m $ 23m $ 6.2m *In Millions Total Units

5 Highlighting Single Family Homes Palm Beach,, and Manalapan Manalapan $4.0 $3.5 $3.0 Palm Beach $2.5 $2.0 $1.5 $1.0 $0.5 $- *Price in Millions Palm Beach Manalapan Median Total Units $ 3.5m $ 0.6m $ 3.1m Palm Beach Manalapan *In Millions 35 % 61 % 4 % Palm Beach Manalapan Q3 Market Snapshot / Palm Beach Q3 Market Update

6 at a glance {Q3 2017} palm beach Single Family Homes $94.6m Total Sales Volume -18 % Change of Units 18 Units $5.3m

7 SINGLE FAMILY HOMES - Q Palm Beach Median Units $7 $6 $5 $4 $3 $2 $1 $0 *Price in Millions Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -16% -17% -32% -18% 2017 $5,253,663 $3,450,558 $94,565, $6,275,708 $4,175,000 $138,065, $5,223,068 $4,185,000 $114,907, $6,312,875 $4,150,000 $176,760, $3,748,829 $2,210,000 $123,711, Palm Beach Single Family Homes / Palm Beach Q3 Market Update

8 SINGLE FAMILY HOMES - Q Manalapan Median Units $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 *Price in Millions Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -78% -78% -78% 0% 2017 $3,117,500 $3,117,500 $6,235, $14,200,000 $14,200,000 $28,400, $14,361,667 $5,900,000 $43,085, $2,831,200 $1,940,000 $14,156, $3,282,000 $3,282,000 $6,564,000 2 Palm Beach Q3 Market Update / Manalapan Single Family Homes

9 at a glance {Q3 2017} manalapan Single Family Homes $6.2m Total Sales Volume 0 % Change of Units 2 Units $3.1m

10 at a glance {Q3 2017} west palm beach Single Family Homes $23m Total Sales Volume -35 % Change of Units 31 Units $742k

11 SINGLE FAMILY HOMES - Q Median Units $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 *Price in Millions Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change 19% 47% -23% -35% 2017 $742,282 $578,000 $23,010, $622,229 $392,500 $29,867, $724,002 $462,000 $31,856, $780,527 $512,500 $37,465, $662,626 $410,000 $23,191, Single Family Homes / Palm Beach Q3 Market Update

12 Market Snapshot Palm Beach Condominiums $ $0.8 $0.7 $ Palm Beach South End Palm Beach In-Town $0.5 $ $ $0.2 $ $0.0 *Price in Millions Total Volume vs. Total Units 43 % 41 % 16 % Palm Beach In-Town South End $ 21.3m $ 20.2m $ 8.1m *In Millions Total Units

13 Highlighting Condominiums Palm Beach In-Town, Palm Beach South End, and $1,000 $900 $800 Palm Beach In-Town $700 $600 $500 $400 Palm Beach South End $300 $200 $100 $- *Price in Thousands Palm Beach In-Town Median Palm Beach South End Total Units $ 950k $ 378k $ 393k Palm Beach In-Town South End *In Thousands 22 % 56 % 22 % Palm Beach In-Town South End Q3 Market Snapshot / Palm Beach Q3 Market Update

14 at a glance {Q3 2017} palm beach in-town Condominiums $21.3m Total Sales Volume -6% Change of Units 16 Units $1.33m

15 CONDOMINIUMS - Q Palm Beach In-Town Median Units $1.6 $1.4 $1.2 $1.0 $0.8 $0.6 $0.4 $0.2 $ *Price in Millions Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change 36% 47% 28% -6% 2017 $1,333,562 $950,000 $21,337, $981,647 $645,000 $16,688, $1,303,520 $890,000 $32,588, $1,127,010 $633,075 $32,683, $1,055,261 $650,000 $22,160, Palm Beach In-Town Condominiums / Palm Beach Q3 Market Update

16 CONDOMINIUMS - Q South End Median Units $800 $700 $600 $500 $400 $300 $200 $100 $ *Price in Thousands Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -17% -21% -3% 17% 2017 $492,202 $377,500 $20,180, $593,937 $475,000 $20,787, $591,329 $274,500 $26,018, $670,528 $330,000 $20,786, $415,673 $367,500 $21,615, Palm Beach Q3 Market Update / South End Condominiums

17 at a glance {Q3 2017} south end Condominiums $20.2m Total Sales Volume 17 % Change of Units 41 Units $492k

18 at a glance {Q3 2017} west palm beach Condominiums $8.1m Total Sales Volume -4.7 % Change of Units 16 Units $506k

19 CONDOMINIUMS - Q Median Units $800 $700 $600 $500 $400 $300 $200 $100 $ *Price in Thousands Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change 9% 10% -42% -47% 2017 $505,951 $392,500 $8,095, $465,200 $357,500 $13,956, $522,621 $430,000 $14,633, $710,657 $450,000 $13,502, $650,198 $542,984 $19,505, Condominiums / Palm Beach Q3 Market Update

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