Palm Beach Market UpdateFourth Quarter 2014

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

Palm Beach, FL | web: 0075774

SIGNIFICANT SALES | Q4 2014

A MESSAGE FROM OUR MANAGER: Carol HickmanWe are pleased to provide a summary of sales activity in the Palm Beach area during the fourth quarter of 2014. The Palm Beach Multiple Listing Service reports the following statistics, comparing the fourth quarter with the fourth quarter of 2013. In Palm Beach, although the number of single family homes sold fell 21 percent, the median sales price rose 77 percent, resulting in an aggregate sold volume (total value of all sales combined) that was almost unchanged quarter over quarter. With respect to the In-Town condominium market, the number of condos sold fell 47 percent, the median sale price increased 57 percent, with the sold volume off 17 percent. The number of condos sold in the South End fell just 3 percent, but both sold volume and median sales price also declined. One reason for the decreased number of sales could be the

decrease in inventories in both the single-family and condo markets. This conclusion would be supported by the facts that the average days-on-market for Palm Beach single-family homes decreased by 30 percent in the quarter and buyers looking for a single-family home under $2 million will find that there are only 6 homes available currently. In West Palm Beach, both sold volume and the median sales price of single-family homes rose during the fourth quarter, while the number of homes sold fell 11 percent and the average days-on-market increased slightly. Condominium sales were very strong with the number sold, median sales price and sold volume all increasing. West Palm Beach was the only area where the inventory of available homes and condos increased, which would be consistent with a large “shadow” inventory and positive market conditions. Manalapan saw an increase in both sold volume and median sales price, largely because there were no reported sales in this small community during the final quarter of 2013. The inventory of available homes fell 4 percent by one home this quarter.

MAGNIFICENT JOHN VOLK RESIDENCEWeb ID: 0076309 | Listed $14,500,000

STUNNING TOWNHOUSEWeb ID: 0076466 | Listed $3,950,000

CHARMING BERMUDAWeb ID: 0076350 | Listed $2,800,000

DIRECT OCEANFRONT IN TOWNWeb ID: 0076469 | Listed $2,695,000

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 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.

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SALES SINGLE FAMILY HOME

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 143 22 $110,874,000 $5,039,727 $4,147,500 180

2013 FOURTH QUARTER 164 28 $113,399,800 $4,049,993 $2,337,500 258

2014 QUARTERS 1-4 319 129 $753,843,501 $5,843,748 $3,450,000 206

2013 QUARTERS 1-4 381 157 $646,571,706 $4,118,291 $2,400,000 283

PALM BEACH

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 197 38 $28,168,500 $741,276 $503,000 159

2013 FOURTH QUARTER 187 43 $25,424,800 $591,274 $385,000 141

2014 QUARTERS 1-4 435 165 $133,093,050 $806,625 $557,500 179

2013 QUARTERS 1-4 398 174 $103,086,712 $592,452 $410,000 151

WEST PALM BEACH

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 24 2 $2,942,005 $1,471,002 $1,471,002 63

2013 FOURTH QUARTER 25 0 $0 $0 $0 0

2014 QUARTERS 1-4 45 14 $62,913,475 $4,493,820 $2,564,752 220

2013 QUARTERS 1-4 53 11 $49,711,100 $4,519,191 $1,800,000 255

MANALAPAN

SALESCONDOMINIUM

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 168 17 $25,926,850 $1,525,108 $1,050,000 185

2013 FOURTH QUARTER 186 32 $31,103,000 $971,968 $667,500 319

2014 QUARTERS 1-4 342 118 $150,094,760 $1,271,989 $850,000 230

2013 QUARTERS 1-4 375 122 $133,517,295 $1,094,404 $680,000 258

PALM BEACH - IN TOWN

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 303 37 $16,308,000 $440,756 $329,000 304

2013 FOURTH QUARTER 397 38 $20,695,925 $544,629 $350,000 171

2014 QUARTERS 1-4 652 192 $100,560,475 $523,752 $312,500 221

2013 QUARTERS 1-4 799 219 $105,291,137 $480,781 $350,000 194

PALM BEACH - SOUTH END

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 FOURTH QUARTER 175 16 $7,607,500 $475,468 $418,000 213

2013 FOURTH QUARTER 163 12 $5,255,050 $437,920 $295,275 147

2014 QUARTERS 1-4 357 98 $55,583,750 $567,181 $399,750 180

2013 QUARTERS 1-4 313 114 $58,373,294 $512,046 $342,500 232

WEST PALM BEACH

EVERGLADES ISLAND LANDEstate Section, Palm BeachWeb ID: 0076477 | $22,000,000

STUNNING LANDMARKED ESTATEIn-Town, Palm BeachWeb ID: 0076498 | $11,200,000

CLASSIC MEDITERRANEANNorthend, Palm BeachWeb ID: 0076372 | $6,500,000

FEATURED LISTINGS

EXQUISITE NEW CONSTRUCTIONPalm Beach Gardens

Web ID: 0076510 | $6,450,000

RARE BEINESTAR GEMIn-Town, Palm Beach

Web ID: 0076478 | $2,300,000

BEAUTIFUL EL CID HOUSEWest Palm Beach

Web ID: 0076508 | $950,000

FEATURED LISTINGS

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS

BROOKLYN, NY | Web: 0137448 | $5,214,773

SAN FRANCISCO, CA | Web: 0086944 | $4,499,000

HOUSTON, TX | Web: 1231131 | $5,750,000

RESORT MARKETS

MALIBU, CA | Web: 0172718 | $4,479,000

PALM BEACH, FL | Web: 0076523 | $5,250,000

MONTECITO, CA | Web: 0113874 | $5,000,000

FOREIGN MARKETS

SOUTH AFRICA | Web: E37YLR | $5,961,020

ITALY | Web: YZXMX7 | $5,622,785

THAILAND | Web: SN59KW | $5,225,000

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