Palm Beach Market Update | Q1 2014

Palm Beach Market UpdateFirst Quarter 2014

PALM BEACH BROKERAGE340 Royal Poinciana WayPalm Beach, FL 33480+1.561.6593555BROKER MANAGER: Carol Hickman sothebyshomes.com

Palm Beach, FL | web: 0076287

http://www.sothebyshomes.com/palmbeach/sales/0076287

http://sothebyshomes.com/palmbeach


SIGNIFICANT SALES | Q1 2014

A MESSAGE FROM OUR MANAGER: Carol Hickman

I am pleased to provide a summary of sales activity in the Palm Beach area during thefirst quarter of 2014. The Palm Beach Multiple Listing Service reports the followingquarter over quarter statistics:

Palm Beach - Single family home and condominium sales remained strong during thefirst quarter of the year. Sold volume rose 40 percent during the quarter and the median sales price rose 12 percent to $3,150,000. Condominium sales were even more robust with sold volume increasing an impressive 90 percent In Town and 43

percent in the South End. Active listing inventory and days on market declined in both sectors.

West Palm Beach - The single family home market experienced solid gains in West Palm Beach. Sold volume was up 33 percent and the median sales price rose 43 percent to $715,000. Condominium sales did not follow the same trend with sales volume falling 23 percent and median sales price declining slightly (two percent).

Manalapan - Although single family home sales volume in Manalapan fell 36 percent, the median sales price rose 85 percent to $2,750,000. In addition, both listing inventory and days on market fell during the quarter.

BELLA VITA - OLD PALM GOLF CLUBWeb ID: 0076003 | Listed $6,650,000

POLMER PARK REGENCYWeb ID: 0076237 | Listed $5,950,000

STUNNING PALM BEACH TOWNHOMEWeb ID: 0076258 | Listed $5,595,000

JAMAICA LANE BEAUTYWeb ID: 0076046 | Listed $4,395,000

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 per-mission. 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.

Auction & Exhibition Calendar 2014

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Shown Above Left: WILLARD LEROY METCALF (1858 – 1925)A SEASIDE PASTURESIGNED W L METCALF (LOWER LEFT)OIL ON CANVASPAINTED IN 1910.26 BY 29 INCHES (66 BY 73.7 CM) AMERICAN PAINTINGS, DRAWINGS & SCULPTURE NEW YORK 16 APRIL 2014

NEW YORK APRIL 1 A Modern Library: The Gordon Waldorf

Collection 1 John James Audubon: The Birds of America,

The Viviparous Quadrupeds of North America 1 The Inventive Eye: Photographs from a

Private Collection 2 Photographs 8 Important Russian Works of Art, European

Silver, and Vertu 16 American Paintings, Drawings & Sculpture29 Magnificent Jewels

LONDON APRIL 1 Made in Britain 8 The Orientalist Sale 9 Arts of the Islamic World 16 Finest and Rarest Wines 29 Furniture Collections 29 Travel, Atlases, Maps & Natural History 30 Old Master & British Paintings

PARIS APRIL 1 Picasso and the Nude: Fifty Drawings from

the Marina Picasso Collection

We invite you to explore our real estate listings at sothebyshomes.com

and view the worldwide auction schedule at sothebys.com.

sothebyshomes.com/palmbeach

SALES SINGLE FAMILY HOME

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FIRST QUARTER 192 29 $191,202,776 $6,593,199 $3,150,000 221

2013 FIRST QUARTER 235 33 $135,827,156 $4,115,974 $2,800,000 310

2013 QUARTERS 1-4 377 155 $644,451,706 $4,157,753 $2,400,000 282

2012 QUARTERS 1-4 420 106 $371,446,778 $3,504,215 $2,360,000 258

PALM BEACH

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE


2014 FIRST QUARTER 215 36 $34,812,025 $967,001 $715,000 155

2013 FIRST QUARTER 197 40 $26,146,512 $653,663 $500,000 153

2013 QUARTERS 1-4 398 170 $100,609,212 $591,819 $410,000 152

2012 QUARTERS 1-4 396 126 $59,432,250 $471,685 $350,000 169

WEST PALM BEACH

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE


2014 FIRST QUARTER 23 4 $18,951,470 $4,737,868 $2,750,000 185

2013 FIRST QUARTER 35 5 $30,062,100 $6,012,420 $1,482,100 201

2013 QUARTERS 1-4 54 11 $49,711,100 $4,519,191 $1,800,000 255

2012 QUARTERS 1-4 55 6 $38,730,000 $6,455,000 $5,500,000 287

MANALAPAN

SALESCONDOMINIUM

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE


2014 FIRST QUARTER 187 28 $32,304,800 $1,153,742 $787,500 231

2013 FIRST QUARTER 218 20 $16,964,120 $848,206 $637,500 229

2013 QUARTERS 1-4 374 122 $133,517,295 $1,094,404 $680,000 258

2012 QUARTERS 1-4 427 123 $137,630,619 $1,118,948 $720,000 299

PALM BEACH - IN TOWN

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE


2014 FIRST QUARTER 386 43 $21,314,500 $495,686 $260,000 206

2013 FIRST QUARTER 441 45 $14,865,262 $330,339 $232,500 177

2013 QUARTERS 1-4 792 214 $102,436,300 $478,674 $355,000 196

2012 QUARTERS 1-4 796 186 $78,621,375 $422,696 $312,500 205

PALM BEACH - SOUTH END

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE


2014 FIRST QUARTER 185 26 $11,123,000 $427,807 $310,000 182

2013 FIRST QUARTER 166 30 $14,401,766 $480,058 $316,000 226

2013 QUARTERS 1-4 308 112 $57,686,294 $515,056 $342,500 233

2012 QUARTERS 1-4 342 87 $39,900,361 $458,625 $310,000 240

WEST PALM BEACH

LA LOMA - IMPORTANT PALM BEACH ESTATE Web ID: 0076309 | $14,500,000

PHIPPS ESTATEWeb ID: 0076242 | $9,975,000

LAKE BLOCK MEDITERRANEAN TOWNHOMEWeb ID: 0076324 | $4,995,000

FEATURED LISTINGS







DIRECT OCEANFRONT TOWNHOMEWeb ID: 0076251 | $4,700,000

RED CROSS DESIGNER SHOW HOUSEWeb ID: 0076319 | $2,495,000

HARBOUR HOUSEWeb ID: 0076228 | $561,000

FEATURED LISTINGS









Palm Beach Market Update | Q1 2014

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