Q3 2017 Palm Beach Market Update PALM BEACH 226vialinda.com Offered at $4,195,000
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)659-3555. sothebyshomes.com/palmbeach phone 561 659 3555 email 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.
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
Market Snapshot Palm Beach Single Family Homes Manalapan $3.0 $2.5 90 80 70 $2.0 60 $1.5 50 40 t: ume Palm Beach $1.0 $0.5 30 20 10 $0.0 0 *Price in Millions 2013 2014 2015 2016 2017 Total Volume vs. Total Units 76 % 19 % 5 % Palm Beach Manalapan $ 94.6m $ 23m $ 6.2m *In Millions Total Units
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 18 31 2 Q3 Market Snapshot / Palm Beach Q3 Market Update
at a glance {Q3 2017} palm beach Single Family Homes $94.6m Total Sales Volume -18 % Change of Units 18 Units $5.3m
SINGLE FAMILY HOMES - Q3 2017 Palm Beach Median Units $7 $6 $5 $4 $3 $2 $1 $0 *Price in Millions 2013 2014 2015 2016 2017 35 30 25 20 15 10 5 0 Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -16% -17% -32% -18% 2017 $5,253,663 $3,450,558 $94,565,941 18 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 2013 $3,748,829 $2,210,000 $123,711,350 33 Palm Beach Single Family Homes / Palm Beach Q3 Market Update
SINGLE FAMILY HOMES - Q3 2017 Manalapan Median Units $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 *Price in Millions 2013 2014 2015 2016 2017 6 5 4 3 2 1 0 Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -78% -78% -78% 0% 2017 $3,117,500 $3,117,500 $6,235,000 2 2016 $14,200,000 $14,200,000 $28,400,000 2 2015 $14,361,667 $5,900,000 $43,085,000 3 2014 $2,831,200 $1,940,000 $14,156,000 5 2013 $3,282,000 $3,282,000 $6,564,000 2 Palm Beach Q3 Market Update / Manalapan Single Family Homes
at a glance {Q3 2017} manalapan Single Family Homes $6.2m Total Sales Volume 0 % Change of Units 2 Units $3.1m
at a glance {Q3 2017} west palm beach Single Family Homes $23m Total Sales Volume -35 % Change of Units 31 Units $742k
SINGLE FAMILY HOMES - Q3 2017 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 2013 2014 2015 2016 2017 60 50 40 30 20 10 0 Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change 19% 47% -23% -35% 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 2013 $662,626 $410,000 $23,191,900 35 Single Family Homes / Palm Beach Q3 Market Update
Market Snapshot Palm Beach Condominiums $0.9 120 $0.8 $0.7 $0.6 100 80 Palm Beach South End Palm Beach In-Town $0.5 $0.4 60 $0.3 40 $0.2 $0.1 20 $0.0 *Price in Millions 2013 2014 2015 2016 2017 0 Total Volume vs. Total Units 43 % 41 % 16 % Palm Beach In-Town South End $ 21.3m $ 20.2m $ 8.1m *In Millions Total Units
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 16 41 16 Q3 Market Snapshot / Palm Beach Q3 Market Update
at a glance {Q3 2017} palm beach in-town Condominiums $21.3m Total Sales Volume -6% Change of Units 16 Units $1.33m
CONDOMINIUMS - Q3 2017 Palm Beach In-Town Median Units $1.6 $1.4 $1.2 $1.0 $0.8 $0.6 $0.4 $0.2 $0.0 2013 2014 2015 2016 2017 35 30 25 20 15 10 5 0 *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 $21,337,000 16 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 $32,683,300 29 2013 $1,055,261 $650,000 $22,160,500 21 Palm Beach In-Town Condominiums / Palm Beach Q3 Market Update
CONDOMINIUMS - Q3 2017 South End Median Units $800 $700 $600 $500 $400 $300 $200 $100 $0 2013 2014 2015 2016 2017 60 50 40 30 20 10 0 *Price in Thousands Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change -17% -21% -3% 17% 2017 $492,202 $377,500 $20,180,300 41 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 2013 $415,673 $367,500 $21,615,000 52 Palm Beach Q3 Market Update / South End Condominiums
at a glance {Q3 2017} south end Condominiums $20.2m Total Sales Volume 17 % Change of Units 41 Units $492k
at a glance {Q3 2017} west palm beach Condominiums $8.1m Total Sales Volume -4.7 % Change of Units 16 Units $506k
CONDOMINIUMS - Q3 2017 Median Units $800 $700 $600 $500 $400 $300 $200 $100 $0 2013 2014 2015 2016 2017 35 30 25 20 15 10 5 0 *Price in Thousands Median Total Units SOTHEBYSHOMES.COM/PALMBEACH Q3 Average Median Volume Units Change 9% 10% -42% -47% 2017 $505,951 $392,500 $8,095,225 16 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 2013 $650,198 $542,984 $19,505,968 30 Condominiums / Palm Beach Q3 Market Update
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PALM BEACH Offered at $5,295,000 Web: 0077162 PALM BEACH Offered at $3,395,000 Web: 0076188 PALM BEACH Offered at $2,895,000 Web: 0077148 PALM BEACH Offered at $2,300,000 Web: 0077408 *in order from left to right, top to bottom sothebyshomes.com/palmbeach
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