Palm Beach Market UpdateSecond Quarter 2014

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

Palm Beach, FL | web: 0076381

SIGNIFICANT SALES | Q2 2014

A MESSAGE FROM OUR MANAGER: Carol HickmanWe invite you to review a summary of sales activity in the Palm Beach area during the second quarter of 2014. The Palm Beach Multiple Listing Service reports the following statistics year (2Q14) over year (2Q13) in Palm Beach:

Although the number of single family homes sold fell 22 percent, the median sales price rose 36 percent resulting in sold volume (total value of all sales combined) that was almost unchanged quarter over quarter. A similar trend occurred with the in town condominium market. The number of condos sold fell 16 percent and the median sale price increased 30 percent while sold volume was off only 10 percent.

The south end condominium market had weaker results, with both sold volume and median sales price falling. However, inventory continues to be absorbed, with the number of available properties decreasing in both the single family and condo markets.

West Palm Beach: Both sold volume and the median sales price of single family homes rose during the second quarter, despite the number of homes sold decreasing 19 percent. Condominium sales followed the same trend. West Palm was the only area where inventory levels increased.

Manalapan: Although the total number of single family homes sold in Manalapan was down, sold volume increased an impressive 84 percent. The median sales price also increased dramatically, while inventory of available homes fell 20 percent.

EVERGLADE ISLANDWeb ID: 0076250 | Listed $15,750,000

OCEANFRONT MEDITERRANEAN VILLA Web ID: 0076023 | Listed $7,950,000

OCEANFRONT BEAUTYWeb ID: 0076055 | Listed $5,300,000

EL CID LAKEFRONTWeb ID: 0076330 | Listed $4,200,000

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 SECOND QUARTER 182 49 $272,706,234 $5,565,433 $3,275,000 186

2013 SECOND QUARTER 212 63 $273,633,400 $4,343,387 $2,400,000 277

2014 QUARTERS 1-2 242 79 $466,209,010 $5,901,380 $3,150,000 199

2013 QUARTERS 1-2 284 96 $409,460,556 $4,265,214 $2,525,000 288

PALM BEACH

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 SECOND QUARTER 211 43 $33,382,250 $776,331 $565,000 206

2013 SECOND QUARTER 198 55 $26,723,500 $485,882 $400,000 145

2014 QUARTERS 1-2 289 79 $68,194,275 $863,219 $625,000 189

2013 QUARTERS 1-2 263 95 $52,870,012 $556,526 $410,000 149

WEST PALM BEACH

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 SECOND QUARTER 23 2 $24,114,000 $12,057,000 $12,057,000 464

2013 SECOND QUARTER 29 4 $13,085,000 $3,271,250 $2,050,000 361

2014 QUARTERS 1-2 27 6 $43,065,470 $7,177,578 $5,607,000 278

2013 QUARTERS 1-2 40 9 $43,147,100 $4,794,122 $1,800,000 272

MANALAPAN

SALESCONDOMINIUM

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 SECOND QUARTER 178 41 $56,811,310 $1,385,641 $1,050,000 263

2013 SECOND QUARTER 214 49 $63,289,675 $1,291,626 $805,000 246

2014 QUARTERS 1-2 241 71 $90,911,110 $1,280,438 $955,000 244

2013 QUARTERS 1-2 276 69 $80,253,795 $1,163,098 $700,000 241

PALM BEACH - IN TOWN

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 SECOND QUARTER 344 72 $35,512,100 $493,223 $350,000 222

2013 SECOND QUARTER 439 84 $48,114,950 $572,797 $412,500 202

2014 QUARTERS 1-2 475 120 $59,976,100 $499,800 $293,000 214

2013 QUARTERS 1-2 563 129 $62,980,212 $488,218 $350,000 193

PALM BEACH - SOUTH END

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE DOM *

2014 SECOND QUARTER 182 34 $20,938,250 $615,830 $380,000 161

2013 SECOND QUARTER 163 42 $19,210,510 $457,393 $327,500 243

2014 QUARTERS 1-2 242 61 $32,641,250 $535,102 $360,000 168

2013 QUARTERS 1-2 211 72 $33,612,276 $466,837 $325,000 236

WEST PALM BEACH

WINDANSEA - DIRECT OCEANFRONT ESTATENorthend, Palm BeachWeb ID: 0076348 | $45,000,000

UNSURPASSED ELEGANCEEstate Section, Palm BeachWeb ID: 0076240 | $12,495,000

PALATIAL BILTMORE PENTHOUSE In-Town, Palm BeachWeb ID: 0076371 | $8,900,000

FEATURED LISTINGS

EXPANSIVE DIRECT OCEAN FRONT VIEWSSinger Island

Web ID: 0076291 | $2,925,000

BEAUTIFUL BRITISH WEST INDIESWest Palm Beach

Web ID: 0076373 | $2,150,000

SPACIOUS GARDEN PATIO APARTMENT In-Town, Palm Beach

Web ID: 0076369 | $1,750,000

FEATURED LISTINGS

left to right from top to bottom:

METROPOLITAN MARKETS

HOUSTON, TX | Web: 1231048 | $5,895,000

NEW YORK, NY | Web: 0019491 | $5,750,000

LOS ANGELES, CA | Web: 0027025 | $5,450,000

RESORT MARKETS

WATER MILL, NY | Web: 0037482 | $4,475,000

FALMOUTH, MA | Web: 0840716 | $5,600,000

LAS CAMPANAS, NM | Web: 0564064 | $5,190,000

FOREIGN MARKETS

TURKS & CAICOS | Web: SJFK3E | $4,950,000

SPAIN | Web: P2334R | $4,989,139

CANADA | Web: 37TFKW | $5,392,202

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