Issuu

DARIN TANSEY GROUP

D OUG LAS EL L I M A N N E W DE V E LO P ME NT P R O P E RTY CO L L E CTION

D A R I N TA N S E Y SENIOR DIRECTOR OF LUXURY SALES

arin Tansey is a highly respected top-producing Realtor for over 10 years, selling nearly a half a billion to date. He currently manages and effectively markets over two hundred million in active residential and commercial listings. Darin offers his clients a highly unique, dedicated, and cutting-edge premier service available in today’s rapid growing industry. He focuses on an exclusive inventory of luxury waterfront properties throughout South Florida with a keen focus in Miami Beach and its immediate surrounding areas. Born and raised in Iowa, then transplanted to Chicago, Tansey attributes his success to his foundation of Midwest values believing that trust, honesty and integrity are vital to professionalism in building long-term client relationships. His cultivated relationships and dignified reputation are a true testament that his analytical approach benefits beyond managing and marketing properties but

permeates to the unsurpassed added value of far more years of successes with off-market investments adding tremendous value to his client’s portfolios. With a curated Rolodex of high net worth clientele and his active networking associations, Darin leverages it all to maximize the exposure of his client’s properties. He also excels in the processes of being the best real estate agent to his Buyer, having the client experience some of the most desirable real estate available, all the while successful to match the perfect property to their needs. Along with his impeccable work ethic, Tansey holds himself to a high caliber that has similarly transcended with him through his educational years. A graduate of Western Illinois University, he proudly holds a bachelor’s degree in Public Communications, a minor in Business Management, and a second minor in Psychology. Darin enjoys an active lifestyle and allocates his limited free time traveling, fitness training, golfing, cycling, cooking, and last but certainly not least, as a wine enthusiast collecting fine wines.

M O B I L E : 3 0 5 . 9 2 4 . 4 1 0 0 | D A R I N .TA N S E Y @ E L L I M A N . C O M

NEW DEVELOPMENT

M OV E - I N R E A DY D E C E M B E R 2 0 1 8

T H E R I T Z- C A R LTO N R E S I D E N C E S , M I A M I B E A C H

4 7 0 1 M E R I D I A N AV E N U E | M I A M I B E A C H , F L S TA R T I N G AT $ 1 , 7 6 3 , 0 0 0 S TA R T I N G AT $ 3 , 1 0 0 , 0 0 0 EQUAL HOUSING OPPORTUNITY. THE RITZ-CARLTON RESIDENCES, MIAMI BEACH ARE NOT OWNED, DEVELOPED OR SOLD BY THE RITZ-CARLTON HOTEL COMPANY, L.L.C. OR ITS AFFILIATES (“RITZ-CARLTON”). 4701 NORTH MERIDIAN, L.L.C. USES THE RITZ-CARLTON MARKS UNDER A LICENSE FROM RITZ-CARLTON, WHICH HAS NOT CONFIRMED THE ACCURACY OF ANY OF THE STATEMENTS OR REPRESENTATIONS MADE HEREIN. THIS GRAPHIC IS AN “ARTIST’S RENDERING” AND IS FOR CONCEPTUAL PURPOSES ONLY. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH OFFER OR SOLICITATION CANNOT BE MADE. PRICES, PLANS AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. ADDITIONALLY, FOR NEW YORK OFFEREES, THE COMPLETE OFFERING TERMS ARE AVAILABLE IN AN OFFERING PLAN AVAILABLE FROM SPONSOR. CD16-0120.

Through decades of experience, The Ritz-Carlton has perfected the art of turning residential living into a luxury resort experience delivering above and beyond the highest of expectations. Imagine landing in your private jet, being whisked away via helicopter and arriving home in less than 15 minutes. Residents can schedule helicopter transportation directly through the concierge. With a short, three-minute ride on the private day yacht, owners can link up to the chopper and ascend from the navigable marine helistop on Biscayne Bay. With just a few words, a dedicated staff and elite concierge can satisfy any request: reservations at full-service beach clubs, a private car and theatre tickets, to name a few. In-residence services including culinary experiences, spa treatments and beyond â€“ you need only think it and The Ritz-Carlton Residences, Miami Beach will make it happen with ease. Designed for life, while other Miami Beach destinations provide only an address, The Ritz-Carlton Residences, Miami Beach provides a life lived to its fullest.

1 H OT E L & H O M E S S O U T H B E A C H

102 24TH STREET | MIAMI BEACH, FL S TA R T I N G AT $ 3 , 1 0 0 , 0 0 0

EQUAL HOUSING OPPORTUNITY. THIS OFFERING IS MADE ONLY BY THE PROSPECTUS FOR THE CONDOMINIUM AND NO STATEMENT SHOULD BE RELIED UPON IF NOT MADE IN THE PROSPECTUS. FOR NEW YORK PURCHASERS ONLY, REFERENCE SHOULD BE MADE TO THE CPS-12 APPLICATION FOR THE CONDOMINIUM FILED WITH THE STATE OF NEW YORK, DEPARTMENT OF LAW FILE NO. CP16-0063.

PA R K G R O V E

T W O PA R K G R O V E P E N T H O U S E 2 8 2 1 SS OTA U TRHT IBNAY HO G S AT $R 3E , 0D 0 0R,I0V0E0, M I A M I S TA R T I N G AT $ 3 , 0 0 0 , 0 0 0

THIS PROJECT IS BEING DEVELOPED BY 2701 BAYSHORE ONE PARK GROVE, LLC, A FLORIDA LIMITED LIABILITY COMPANY (“DEVELOPER”). ALL IMAGES AND DESIGNS DEPICTED HEREIN ARE ARTIST’S CONCEPTUAL RENDERINGS, WHICH ARE BASED UPON PRELIMINARY DEVELOPMENT PLANS, AND ARE SUBJECT TO CHANGE WITHOUT NOTICE IN THE MANNER PROVIDED IN THE OFFERING DOCUMENTS. NO GUARANTEES OR REPRESENTATIONS WHATSOEVER ARE MADE THAT EXISTING OR FUTURE VIEWS FROM A UNIT OR OF THE PROJECT AND SURROUNDING AREAS WILL BE PROVIDED OR, IF PROVIDED, WILL BE AS DEPICTED HEREIN. ALL FIXTURES, FURNITURE AND ITEMS OF FINISH AND DECORATION OF RESIDENCES SHOWN ARE FOR DISPLAY ONLY AND MAY NOT TO BE INCLUDED WITH THE UNIT, UNLESS EXPRESSLY PROVIDED IN THE PURCHASE AGREEMENT. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH CANNOT BE MADE. ALL RIGHTS RESERVED.

A KOYA

2 0 1 5 5 B O C A W E S T D R I V E | B O C A R ATO N , F L S TA R T I N G AT $ 9 0 0 , 0 0 0 WE ARE PLEDGED TO THE LETTER AND SPIRIT OF THE U.S. POLICY FOR THE ACHIEVEMENT OF EQUAL HOUSING OPPORTUNITY THROUGHOUT THE NATION. WE ENCOURAGE AND SUPPORT AN AFFIRMATIVE ADVERTISING AND MARKETING PROGRAM IN WHICH THERE ARE NO BARRIERS TO OBTAINING HOUSING BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS OR NATIONAL ORIGIN. ORAL REPRESENTATION CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATION MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUES, TO BE FURNISHED BY A DEVELOPER TO A BUYER. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING ANYTHING. NO FEDERAL AGENCY HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY. ALL FEATURES, DIMENSIONS, DRAWINGS, GRAPHIC MATERIAL, PICTURES, CONCEPTUAL RENDERINGS, PLANS AND SPECIFICATIONS ARE NOT NECESSARILY AN ACCURATE DEPICTION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE, AND DEVELOPER EXPRESSLY RESERVES THE RIGHT TO MAKE MODIFICATIONS. ALL PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE. ALL IMPROVEMENTS, DESIGN AND CONSTRUCTION ARE SUBJECT TO FIRST OBTAINING APPROPRIATE PERMITS AND APPROVALS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH CANNOT BE MADE.

V I S TA B LU E 3730 NORTH OCEAN DRIVE S I N G E R I S L A N D, F L S TA R T I N G AT $ 1 , 6 0 0 , 0 0 0

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.IN NEW YORK, THE COMPLETE OFFERING TERMS ARE IN A FLORIDA PROSPECTUS AVAILABLE FROM DEVELOPER.â€¯ A CPS-12 APPLICATION HAS BEEN ACCEPTED IN NEW YORK AS FILE NO. CP-160073.

R I VA F O R T L A U D E R DA L E

1 1 8 0 N O R T H F E D E R A L H I G H W AY | F O R T L A U D E R DA L E , F L 3 3 3 0 4 S TA R T I N G AT $ 7 0 0 , 0 0 0

WE ARE PLEDGED TO THE LETTER AND SPIRIT OF THE U.S. POLICY FOR THE ACHIEVEMENT OF EQUAL HOUSING OPPORTUNITY THROUGHOUT THE NATION. WE ENCOURAGE AND SUPPORT AN AFFIRMATIVE ADVERTISING AND MARKETING PROGRAM IN WHICH THERE ARE NO BARRIERS TO OBTAINING HOUSING BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS OR NATIONAL ORIGIN. ORAL REPRESENTATION CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATION MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUES, TO BE FURNISHED BY A DEVELOPER TO A BUYER. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING ANYTHING. NO FEDERAL AGENCY HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY. ALL FEATURES, DIMENSIONS, DRAWINGS, GRAPHIC MATERIAL, PICTURES, CONCEPTUAL RENDERINGS, PLANS AND SPECIFICATIONS ARE NOT NECESSARILY AN ACCURATE DEPICTION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE, AND DEVELOPER EXPRESSLY RESERVES THE RIGHT TO MAKE MODIFICATIONS. ALL PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE. ALL IMPROVEMENTS, DESIGN AND CONSTRUCTION ARE SUBJECT TO FIRST OBTAINING APPROPRIATE PERMITS AND APPROVALS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH CANNOT BE MADE.

G A L L E R I A LO F T S 1025 NORTHEAST 18 AVENUE | FORT LAUDERDALE, FL S TA R T I N G AT $ 5 0 0 , 0 0 0

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY THE DEVELOPER TO A BUYER OR LESSEE. THESE MATERIALS DO NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY A UNIT IN GALLERIA LOFTS, A CONDOMINIUM (THE “CONDOMINIUM”). NO SOLICITATION, OFFER OR SALE OF A UNIT IN THE CONDOMINIUM WILL BE MADE IN ANY STATE OR COUNTRY IN WHICH SUCH ACTIVITY WOULD BE UNLAWFUL PRIOR TO ANY REQUIRED REGISTRATION IN SUCH JURISDICTION, AND NO STATEMENT HEREIN SHOULD BE CONSTRUED AS OR RELIED UPON AS A REPRESENTATION OR GUARANTEE. ALL OFFERS AND INCENTIVES HEREIN (“OFFERS”) ARE SUBJECT TO ADDITIONAL TERMS, CONDITIONS AND RESTRICTIONS. OFFERS ARE GOOD FOR A LIMITED TIME ONLY AND SUBJECT TO AVAILABILITY. GALLERIA LOFTS, LLC, A FLORIDA LIMITED LIABILITY COMPANY (THE “DEVELOPER”) RESERVES THE RIGHT TO CHANGE OR WITHDRAW ANY OFFER AT ANY TIME, WITHOUT NOTICE. OFFERS ARE SPECIFIC TO THE CONDOMINIUM AND MAY NOT BE COMBINED WITH OTHER OFFERS. ALL OFFERS ARE VOID WHERE PROHIBITED BY LAW AND IN STATES WHERE PRIOR REGISTRATION IS REQUIRED.

D O U G L A S E L L I M A N R E A L E S TAT E

DIVISION

PROVEN TRACK RECORD OF SERVING THE REAL E S TAT E N E E D S OF OUR CLIENTS WORLDWIDE

Douglas Elliman Sports & Entertainment is a curated, sales division that provides an elite level of real estate brokerage services for clients within the sports and entertainment industries, as well as ultra-high net-worth parties. Our Sports & Entertainment team is comprised of real estate agents who have an extensive history of working with professional athletes and celebrities, as well as the reputation for tending to every need involved with their transactions. This highly-specialized and personalized division is the first of its kind to be created under one cohesive brand that offers unparalleled international reach.

WE DELIVER THE

INTERNATIONAL BUYER

Douglas Elliman Real Estate and Knight Frank Residential’s global alliance has resulted in the largest interactive and connected network for luxury residential properties in the world. Our alliance is a testament to our shared history, vision, and commitment to our clientele. With the best agents, the finest international properties, and in depth global market analysis, we are offering our customers a truly seamless experience whether they’re in Malibu, Manhattan or Moscow. We attract the most qualified buyers from all over the world. Douglas Elliman’s alliance with Knight Frank Residential allows us to connect you to the right buyer, no matter where they live.

523 OFFICES

United Kingdom 2,145 people 85 offices 3 countries

Continental Europe 1,025 people 80 offices 16 countries

Asia Pacific 5,615 people 58 offices 14 countries

700+ DATABASE OF

COUNTRIES

The Americas 12,025 people 271 offices 15 countries

BILLIONAIRES

Africa 700 people 23 offices 10 countries

The Middle East 50 people 3 offices 2 countries

21,500+ OVER

PEOPLE

MONAD TERRACE 1300 -1375 Monad Terrace Miami Beach, FL 33139

EIGHTY SEVEN PARK BY RENZO PIANO BUILDING WORKSHOP 8701 Collins Avenue Miami Beach, FL 33154

FOUR SEASONS PRIVATE RESIDENCES FORT LAUDERDALE 525 North Fort Lauderdale Fort Lauderdale, FL 33304

321 AT WATER’S EDGE 321 North Birch Road Fort Lauderdale, FL 33304

THE WAVE ON BAYSHORE 620 Bayshore Drive Fort Lauderdale, FL 33304

33 INTRACOASTAL 2895 Northeast 33RD Court Fort Lauderdale, FL 33306

3550 SOUTH OCEAN 3550 South Ocean Boulevard Palm Beach, FL 33480

THE RESIDENCES AT MANDARIN ORIENTAL, BOCA RATON 10 East Boca Raton Road Boca Raton, FL 33432

THE BRISTOL 1101 South Flagler Drive West Palm Beach, Florida 33401

CONTACT ME FOR ADDITIONAL INFORMATION OR INQUIRES

DA R I N TA N S E Y SENIOR DIRECTOR OF LUXURY SALES

MOBILE: 305.924.4100 | DARIN.TANSEY@ELLIMAN.COM

REPORT

2018

REPORT

Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date) Listing Discount (From Last List Price) Listing Inventory (Active) Absorption Rate (Months)

Highlights of the Quarterly Survey of Miami Beach/Barrier Islands Sales

Miami Beach - Luxury Condo Matrix Average Sales Price Average Price Per Square Foot Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date) Listing Discount (From Last List Price)

Miami Beach- Luxury Single Family Matrix Average Sales Price Average Price Per Square Foot Median Sales Price Number of Sales Days on Market (From Last List Date) Listing Discount (From Last List Price)

FORT LAUDERDALE SALES Highlights of the Quarterly Survey of Fort Lauderdale Residential Sales

The improving conditions continued with surging sales, shorter marketing times and less negotiability.

Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

$979,382 $656 $395,000 808 149 10.3% 6,089 22.6

-10.8% -7.5% -9.8% -21.2% 0.7%

$1,098,024 $709 $438,000 1,025 148 11.0% 6,319 18.5

15.3% 12.1% -1.3% 50.7% 4.2% 3.3% -31.5%

$849,439 $585 $400,000 536 143 8.9% 5,895 33.0

-3.6% 22.2%

REPORT

MIAMI BEACH/BARRIER ISLANDS SALES

The market continued to show rising price trends, modest inventory growth and a surge in sales. Miami Beach Matrix

2018

ELLIMAN Q3 Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

$3,431,622 $1,235 $2,542,500 70 174 11.0%

-23.0% -13.4% -24.6% -24.7% -11.2%

$4,456,177 $1,426 $3,370,000 93 196 12.7%

20.5% 11.4% 33.8% 52.2% -6.5%

$2,846,805 $1,109 $1,900,000 46 186 8.9%

Q3-2018

%∆ (qtr)

Q2-2018

%∆ (yr)

Q3-2017

$11,703,318 $1,463 $11,100,000 11 308 14.6%

-8.8% 6.7% 3.2% -8.3% 17.6%

$12,828,750 $1,371 $10,760,000 12 262 16.5%

98.5% 59.2% 117.6% 22.2% 16.2%

$5,894,444 $919 $5,100,000 9 265 12.7%

There were 808 overall market sales, up 50.7% more than the year-ago quarter. Listing inventory edged 3.3% higher to 6,089 listings.

Ft. Lauderdale Market Matrix (Condos/TH) Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date)

Ft. Lauderdale Market Matrix (Single Family) Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales Days on Market (From Last List Date)

Q3–2018 $422,177

%∆ (qtr) -14.6%

Q2–2018 $494,226

%∆ (yr) 2.7%

Q3–2017 $410,988

$314

-3.7%

$326

5.0%

$299

$293,800

-23.9%

$386,000

-2.1%

$300,000

511

-36.5%

805

23.7%

413

101

23.2%

-1.0%

102

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

$595,591

-17.1%

$718,254

-8.7%

$652,425

-0.3%

$325

5.0%

$332,500

$324

-5.5%

$343

$349,000

-11.6%

$395,000

485

-8.7%

531

7.8%

-1.3%

-9.5%

Luxury Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date)

$1,373,894

-6.9%

$1,475,104

10.0%

$1,249,001

$561

450

-3.9%

$584

8.9%

$515

$1,300,000

1.4%

$1,281,600

18.2%

$1,100,000

-35.8%

13.0%

156

77.3%

0.0%

156

Luxury Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales Days on Market (From Last List Date)

$2,424,627

-15.7%

$2,874,503

-7.1%

$2,611,315

$610

3.6%

$589

$1,625,000

-28.3%

$2,265,500

-12.5%

-10.9%

153

-8.4%

167

-25.4%

6.8%

$571

-18.8%

$2,000,000 205

Days on market, the number of days from the last price change, if any, to the contract date edged up 4.2% to 149 days. Listing discount, the percentage difference between the asking price at the time of contract and the contract price rose to 10.3% from 8.9% in the same period a year ago.

The number of condo sales surged 23.7% to 511, and the number of single-family sales rose 7.8% to 485 from

Price trend indicators showed mixed results as sales drifted to larger sized units. This was evidenced by the growth in the 3-bedroom and 4-bedroom condo market share.

over the same period.

the year-ago quarter. Listing inventory showed no year over year growth in the condo market. Single-family listing inventory rose by 5%

The median sales price for condos slipped 2.1% to $293,800, and the median sales price for single families increased 5% to $349,000 respectively from the year-ago quarter.

FOR A COMPLETE VERSION OF THE ELLIMAN REPORT WWW.ELLIMAN.COM/MARKETREPORTS

LEADERS IN FLORIDA REAL ESTATE MARKET REPORTS

REPORT

Boca Raton Market Matrix (Condos/TH)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$303,605

-13.0%

$349,111

1.3%

$299,667

$193

-9.8%

$214

3.8%

$186

$225,000

2.3%

$220,000

12.5%

$200,000

783

-9.0%

860

17.0%

669

2.8%

-7.5%

Boca Raton Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price

$676,658

-3.6%

$702,277

12.2%

$603,096

$199

-1.0%

$201

7.6%

$185

$447,500

-2.2%

$457,500

1.7%

$440,000

Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date)

Average Price per Sq Ft Median Sales Price Number of Sales Days on Market (From Last List Date)

Luxury Market Matrix (Condos/TH) Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date)

Luxury Market Matrix (Single Family) Average Sales Price Average Price per Sq Ft Median Sales Price Number of Sales Days on Market (From Last List Date)

654

-9.3%

721

REPORT

Highlights of the Quarterly Survey of Boca Raton & Highland Beach Sales

Sales trends, which lead price trends, saw pronounced increases across property types.

Average Price per Sq Ft

2018

BOCA RATON SALES

7.0%

611

-1.3%

1.3%

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

$1,051,614

-24.6%

$1,394,111

-10.7%

$1,177,840

$425

-10.7%

$476

3.4%

$411

$750,000

-28.7%

$1,051,250

-16.7%

$900,000

-10.2%

17.9%

120

-6.3%

128

-13.7%

139

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

$2,459,430

-5.6%

$2,605,203

30.9%

$1,878,272

$353

-3.6%

$366

5.4%

$335

$1,676,250

-11.8%

$1,900,000

21.5%

$1,380,000

-9.6%

6.5%

174

22.5%

142

6.1%

164

The number of condos sales jumped 17% to 783, and the number of single-family sales rose 7% to 654 respectively from the same period last year. Over the same period listing inventory also showed gains.The median sales price for condos rose 12.5% to $225,000, and median sales price for single families increased 1.7% to $447,500. By relying on price per quarter foot as a price trend indicator less influenced by substantial changes in sales size, luxury condo prices moved 3.4% higher, and luxury single-family prices rose 5.4% higher respectively from the same period a year ago.

PALM BEACH SALES Highlights of the Quarterly Survey of Palm Beach Residential Sales

Sales activity posted strong results for the quarter, primarily assisted by the condominium market. Palm Beach Market Matrix (Condos/TH) Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date) Listing Discount (From Last List Price) Listing Inventory (active) Absorption Rate (Mos)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

$784,151

-28.9%

$1,103,469

2.7%

$763,492

$479

-24.2%

$632

-2.2%

$490

$440,000

-29.6%

$625,000

11.4%

$395,000

-40.5%

116

16.9%

-31.1%

119

-12.8%

9.5% 252

59 94

10.1% -0.8%

11.3%

254

7.7%

234

11.0

66.7%

6.6

-7.6%

Palm Beach Market Matrix (Single Family)

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales (Closed) Days on Market (From Last List Date) Listing Discount (From Last List Price) Listing Inventory (active) Absorption Rate (Mos)

$5,154,417

-37.2%

$8,209,197

-3.6%

$5,345,249

-8.5%

$1,489

$3,700,000

$1,363

-30.5%

$5,325,000

-59.1%

5.9%

145

45.0%

100

-40.3%

15.0% 113

11.9

14.3%

$1,192

17.4%

$3,151,115 17 243

16.0% -10.3%

126

13.4% -11.0%

127

18.8

118.6%

8.6

-16.1%

Luxury Market Matrix

Q3–2018

%∆ (qtr)

Q2–2018

%∆ (yr)

Q3–2017

$7,701,111

-51.3%

$15,817,653

-11.2%

$8,676,875

-12.3%

$1,766

$5,000,000

$1,548

-60.1%

$12,537,970

-47.1%

12.5%

-47.3%

148

-69.0%

15.5%

22.4

14.3%

$1,354

-35.1%

$7,700,000

17.7%

8 252 13.4%

27.5%

-7.4%

29.3

140.2%

12.2

-17.7%

35.6

The third quarter sales total of both condo and single-family sales was the most in five years. Condo market share was the highest since the financial crisis, playing a significant role in boosting market activity. Condo listing inventory reversed from the prior quarter and rose 7.7% to 252, the second year over year increase in 2018. However, single-family listing inventory declined for the fifth consecutive quarter, down 11% to 113. The median sales price for condos rose 11.4% to $440,000, and the median sales price for single-families increased 17.4% to $3,700,000.

FOR A COMPLETE VERSION OF THE ELLIMAN REPORT WWW.ELLIMAN.COM/MARKETREPORTS

DARIN TANSEY GROUP

DARIN TANSEY | SENIOR DIRECTOR OF LUXURY SALES MOBILE: 305.924.4100 | DARIN.TANSEY@ELLIMAN.COM DARINTANSEY.COM