Palm Beach Market UpdateThird Quarter 2015

PALM BEACH BROKERAGE340 Royal Poinciana WayPalm Beach, FL 33480+1.561.659.3555VICE PRESIDENT/BROKER MANAGER: Carol Hickman sothebyshomes.com/palmbeach

Palm Beach, FL | web: 0076748

SIGNIFICANT SALES | Q3 2015

A MESSAGE FROM OUR MANAGER: Carol HickmanWe invite you to review a summary of sales activity in the Palm Beach area during the third quarter of 2015.

The Palm Beach Multiple Listing Service reports the following statistics, quarter (Q3 15) over quarter (Q3 14):

In Palm Beach, the condominium market was the strongest sector for this quarter. The average sales price

of In Town condominiums rose 46%, sold volume (total value of all sales combined) increased 30%, while

the number of units sold fell 11%. The South End condominium market also had robust results, with the

number of units sold rising 42% and sales volume increasing 25%, while average sales price declined 12%.

Overall condominium inventory continues to be absorbed as the total number of available condominiums

decreased, with In Town sales leading the pack in price increases. For single-family homes, the number sold

fell 21%, sold volume declined 35%, and inventory increased slightly. The average sales price of single-family

homes fell 17%, but the median sales price was unchanged, which is primarily a reflection of the price ranges which were most active this quarter.

In West Palm Beach, similar to Palm Beach, the condominium market was also the strongest sector, with increases in both the number of units sold and sales

volume, although there was a dip in the average sales price of 27%. For single-family homes, the number of sales fell 13%, sold volume declined by 16% and the

average sales price declined slightly (4%). The number of available homes was reduced by 19%.

However, in the small market of Manalapan, while the total number of single-family homes sold was down, sold volume increased an impressive 204% percent.

The average sales price also increased dramatically (407%). The dramatic change quarter over quarter is primarily due to the sale of a $33M home through

Sotheby’s International Realty – Palm Beach.

VILLA ISOLAWeb ID: 0075774 | Listed $14,550,000

BEAUTIFUL BRITISH WEST INDIESWeb ID: 0076381 | Listed $5,995,000

HISTORIC SEABREEZE COTTAGES Web ID: 0076609 | Listed $2,795,000

STUNNING TURNKEY OCEAN TO LAKEWeb ID: 0076476 | Listed $1,395,000

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 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.

AUCTION CALENDAR OCTOBER | NOVEMBER 2015

American Paintings, Drawings and Sculpture New York 02 Oct

Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct

Photographs New York 07 Oct

RM Sotheby’s: Hershey Hershey 08 – 09 Oct

Property from a Distinguished Private Asian Collection New York 15 Oct

Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct

Collections: European Decorative Arts New York 17 Oct

The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct

Impressionist & Modern Art Evening Sale New York 05 Nov

Contemporary Art Evening Auction New York 11 Nov

Finest and Rarest Wines New York 14 Nov

American Art New York 18 Nov

Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov

Prints & Multiples New York 23 – 24 Nov

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

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AUCTION CALENDAR OCTOBER | NOVEMBER 2015

American Paintings, Drawings and Sculpture New York 02 Oct

Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct

Photographs New York 07 Oct

RM Sotheby’s: Hershey Hershey 08 – 09 Oct

Property from a Distinguished Private Asian Collection New York 15 Oct

Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct

Collections: European Decorative Arts New York 17 Oct

The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct

Impressionist & Modern Art Evening Sale New York 05 Nov

Contemporary Art Evening Auction New York 11 Nov

Finest and Rarest Wines New York 14 Nov

American Art New York 18 Nov

Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov

Prints & Multiples New York 23 – 24 Nov

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

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sothebyshomes.com/palmbeach

SALES SINGLE FAMILY HOME

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 147 22 $114,907,496 $5,223,068 $4,185,000 224

2014 THIRD QUARTER 138 28 $176,760,491 $6,312,875 $4,150,000 245

2015 QUARTERS 1-3 258 83 $413,240,456 $4,978,801 $3,900,000 252

2014 QUARTERS 1-3 275 107 $642,969,501 $6,009,061 $3,450,000 211

PALM BEACH

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 173 42 $31,367,066 $746,835 $520,000 152

2014 THIRD QUARTER 214 48 $37,465,275 $780,527 $512,500 177

2015 QUARTERS 1-3 340 123 $92,228,183 $749,823 $459,000 151

2014 QUARTERS 1-3 375 128 $105,789,550 $826,481 $570,000 184

WEST PALM BEACH

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 12 3 $43,085,000 $14,361,667 $5,900,000 310

2014 THIRD QUARTER 26 5 $14,156,000 $2,831,200 $1,940,000 242

2015 QUARTERS 1-3 28 12 $107,178,226 $8,931,519 $4,150,313 253

2014 QUARTERS 1-3 38 12 $59,971,470 $4,997,662 $3,025,000 246

MANALAPAN

SALESCONDOMINIUM

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 123 25 $32,588,000 $1,303,520 $890,000 225

2014 THIRD QUARTER 150 28 $25,033,300 $894,046 $626,537 225

2015 QUARTERS 1-3 276 117 $158,028,181 $1,350,668 $1,067,000 197

2014 QUARTERS 1-3 280 100 $116,517,910 $1,165,179 $791,250 239

PALM BEACH - IN TOWN

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 239 44 $26,018,500 $591,329 $274,500 203

2014 THIRD QUARTER 281 31 $20,786,375 $670,528 $330,000 166

2015 QUARTERS 1-3 489 193 $127,760,733 $661,972 $400,000 185

2014 QUARTERS 1-3 552 155 $84,252,475 $543,564 $308,620 201

PALM BEACH - SOUTH END

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2015 THIRD QUARTER 177 27 $14,043,400 $520,125 $425,000 164

2014 THIRD QUARTER 153 19 $13,502,500 $710,657 $450,000 193

2015 QUARTERS 1-3 343 99 $62,050,212 $626,769 $440,000 173

2014 QUARTERS 1-3 291 82 $47,976,250 $585,076 $399,750 174

WEST PALM BEACH

STUNNING PALM BEACH TOWNHOUSEIn-Town, Palm BeachWeb ID: 0076585 | $6,300,000

CLASSIC PALM BEACH BERMUDA-STYLE HOMENorthend, Palm BeachWeb ID: 0076714 | $2,895,000

ONONDAGA AVENUENorthend, Palm BeachWeb ID: 0076593 | $2,650,000

FEATURED LISTINGS

TRUMP PLAZA TROPHYWest Palm Beach

Web ID: 0076744 | $4,275,000

PALM BEACH BILTMOREIn-Town, Palm Beach

Web ID: 0076717 | $2,500,000

CARLTON PLACE CONDO South of Sloan’s Curve, Palm Beach

Web ID: 0076646 | $499,900

FEATURED LISTINGS

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS

NEW YORK, NY | Web: 00110341 | $1,700,000

SAN FRANCISCO, CA | Web: 0087579 | $1,525,000

HOUSTON, TX | Web: 1233394 | $1,595,000

RESORT MARKETS

PALM BEACH, FL | Web: 0076755 | $1,700,000

CAPE COD, MA | Web: 0403249 | $1,695,000

SANTA BARBARA, CA | Web: 0113946 | $1,800,000

FOREIGN MARKETS

COSTA RICA | Web: S349HB | $1,350,000

ITALY | Web: JM3MBW | $1,792,115

GREECE | Web: DNJSXS | $1,792,115

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