Palm Beach 3Q Market Update

Palm Beach, FL | web: 0076451

Palm Beach Market Update Third Quarter 2014 PALM BEACH BROKERAGE 340 Royal Poinciana Way Palm Beach, FL 33480 +1.561.6593555 BROKER MANAGER: Carol Hickman sothebyshomes.com

A MESSAGE FROM OUR MANAGER: Carol Hickman According to the Palm Beach Multiple Listing Service, the real estate market in the town of Palm Beach was as hot as the temperature this summer. During what is usually our slowest period, the total volume of single family home sales was up by over 40 percent, with the median sales price increasing by over 100 percent (Q3 2014 over Q3 2013).

The median sales price rose dramatically because nearly half of all single family home sales in Q3 of 2013 sold below the $2M mark. Due to very limited inventory, there were only 3 homes that sold under $2M during the same quarter this year. Both the inventory of homes for sale and the average days on the market for sold homes fell.

For condominiums, the numbers were similarly impressive. The Palm Beach Multiple Listing Service maintains separate records for “in-town” and “south-end” condominiums. In the former category, the number sold was up almost 30 percent, with the total sold volume increasing by over 40 percent. The average sales price was also up slightly and the days on market was down slightly. In the latter category, the inventory of condominiums for sale decreased by over 25 percent, with average days on the market down 22 percent and average sales price up over 60 percent. Regarding condominium sales in West Palm Beach, the number sold was down, but the average sales price was up almost ten percent and the average days on the market was down by almost 25 percent (Q3 2014 over Q3 2013).

For more information on Palm Beach real estate, we invite you to visit our website at Sothebyshomes.com/palmbeach.

SIGNIFICANT SALES | Q3 2014

NORTH LAKE WAY BEAUTY Web ID: 0075965 | Listed $15,500,000

STUNNING CLARKE AVENUE Web ID: 0076410 | Listed $15,000,000

PHIPPS ESTATE Web ID: 0076242 | Listed $9,495,000

ENCHANTING OCEANFRONT ESTATE Web ID: 0075087 | Listed $8,750,000

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 & Exhibition Calendar 2014 18 22 23 29 29 30 nov. 4 5 6 10 11

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© MMXIV SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. ALL RIGHTS RESERVED. SOTHEBY’S INTERNATIONAL REALTY® IS A REGISTERED TRADEMARK LICENSED TO

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GENEVA NOVEMBER Important Watches Magnificent Jewels and Noble Jewels

nov. 5 5

and view the worldwide auction schedule at sothebys.com.

LONDON OCTOBER / NOVEMBER The Italian Sale Contemporary Art Evening Auction Contemporary Art Day Auction Finest and Rarest Wines Collections Old Masters Travel, Atlases, Maps and Natural History Fine Chinese Ceramics and Works of Art Arts of Europe 20 th Century Art – A Different Perspective Czech Avant-Garde Art from the Roy and Mary Cullen Collection Modern & Post-War British Art Finest and Rarest Wines Music, Continental and Russian Books and Manuscripts Contemporary East Important Russian Art Russian Art Day Sale Russian Works of Art, Fabergé and Icons PARIS OCTOBER / NOVEMBER Regards sur l’Orient – Tableaux et Sculptures – Orientalistes et Art Islamique Classique / Moderne : Arts Décoratifs du XVIe au XIXe siècle L’œil d’un collectionneur Important Mobilier, Objets d’Art et Tableaux du XVIIIe sièclee Bibliothèque Carlo de Poortere Photographies Man Ray Arts Décoratifs du XXe siècle & Design

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

NEW YORK OCTOBER / NOVEMBER Kentshire: A Legendary Collection Important English and European Decorative Arts Important Silver, Vertu & Russian Works of Art Property from the Estate of Rochelle Sepenuk, Part II 19 th Century Furniture and Decorative Art Prints Impressionist & Modern Art Evening Sale Impressionist & Modern Art Day Sale 19 th Century European Art Property from the Collection of Mrs. Paul Mellon: Masterworks In Pursuit of Beauty: The Myron Kunin Collection of African Art Contemporary Art Evening Auction Contemporary Art Day Auction American Art Property from the Collection of Mrs. Paul Mellon: Jewels & Objects of Vertu Property from the Collection of Mrs. Paul Mellon: Interiors Mexico Contemporary Latin American Art Modern & Contemporary

Shown Above Left: THE HENRY GRAVES SUPERCOMPLICATION PATEK PHILIPPE & CO., GENEVA, 1932 ESTIMATE ON REQUEST

IMPORTANT WATCHES GENEVA NOV. 11TH, 2014

SINGLE FAMILY HOME

SALES PALM BEACH ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

131

27

$174,260,491

$6,454,092

$4,500,000

250

2013 THIRD QUARTER

159

33

$123,711,350

$3,748,829

$2,210,000

287

2014 QUARTERS 1-3

268

106

$640,469,501

$6,042,165

$3,450,000

212

2013 QUARTERS 1-3

326

129

$533,171,906

$4,133,116

$2,450,000

288

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

203

44

$34,248,400

$778,373

$505,000

178

2013 THIRD QUARTER

187

35

$23,191,900

$662,626

$410,000

173

2014 QUARTERS 1-3

367

124

$102,572,675

$827,199

$565,000

185

2013 QUARTERS 1-3

337

131

$77,661,912

$592,839

$410,000

155

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

25

5

$14,156,000

$2,831,200

$1,940,000

242

2013 THIRD QUARTER

23

2

$6,564,000

$3,282,000

$3,282,000

177

2014 QUARTERS 1-3

37

12

$59,971,470

$4,997,622

$3,025,000

246

2013 QUARTERS 1-3

43

11

$49,711,100

$4,519,191

$1,800,000

255

WEST PALM BEACH

MANALAPAN

*Days On Market

sothebyshomes.com/palmbeach

SALES

CONDOMINIUM

PALM BEACH - IN TOWN ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

147

27

$31,740,300

$1,175,566

$633,075

215

2013 THIRD QUARTER

163

21

$22,160,500

$1,055,261

$650,000

220

2014 QUARTERS 1-3

278

99

$123,224,910

$1,244,696

$800,000

236

2013 QUARTERS 1-3

312

90

$102,414,295

$1,137,936

$687,500

236

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

271

31

$20,786,375

$670,528

$330,000

166

2013 THIRD QUARTER

367

52

$21,615,000

$415,673

$367,500

213

2014 QUARTERS 1-3

546

155

$84,252,475

$543,564

$308,620

201

2013 QUARTERS 1-3

666

181

$84,595,212

$467,376

$350,000

199

ACTIVE LISTINGS

NUMBER SOLD

SOLD VOLUME

AVG. SALE PRICE

MEDIAN SALES PRICE

DOM *

2014 THIRD QUARTER

149

19

$13,502,500

$710,657

$450,000

193

2013 THIRD QUARTER

142

30

$19,505,968

$650,198

$542,984

255

2014 QUARTERS 1-3

287

82

$47,976,250

$585,076

$399,750

174

2013 QUARTERS 1-3

255

102

$53,118,244

$520,767

$347,500

242

PALM BEACH - SOUTH END

WEST PALM BEACH

*Days On Market

FEATURED LISTINGS

SOPHISTICATED REGENCY ESTATE Estate Section, Palm Beach Web ID: 0076347 | $10,900,000

CLARKE AVENUE CHARM In-Town, Palm Beach Web ID: 0075947 | $7,495,000

BEAUTIFUL BRITISH WEST INDIES Northend, Palm Beach Web ID: 0076381 | $6,250,000

FEATURED LISTINGS

THE VILLAS In-Town, Palm Beach Web ID: 0076419 | $4,500,000

TRUMP PLAZA West Palm Beach Web ID: 0076317 | $1,560,000

WATERVIEW TOWERS West Palm Beach Web ID: 0076458 | $1,500,000

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0137370 | $2,895,000 HOUSTON, TX | Web: 1231558 | $3,649,000 SAN FRANCISCO, CA | Web: 0086965 | $3,995,000 RESORT MARKETS MALIBU, CA | Web: 1300004 | $2,495,000 WEST PALM BEACH, FL | Web: 0074827 | $3,795,000 SUMMERLAND, CA | Web: 0632268 | $3,750,000 FOREIGN MARKETS HONG KONG | Web: DDH648 | $2,838,234 ITALY | Web: ZV27TP | $3,165,375 FRANCE | Web: BMWKQP | Price Upon Request sothebysrealty.com