Todd And Frances Peter | Q3 2018 Market Update - Palm Beach

Todd & Frances Peter Palm Beach Market Update

SEMINOLE BEACH DIRECT OCEANFRONT

Secluded on 1.4 acres

Todd & Frances Peter Senior Global RealEstate Advisors Palm Beach Brokerage

Todd and Frances Peter are among the top luxury real estate agents in Palm Beach and the nation. They represent many premier listings on the market and have an impeccable track record of success across countless high-end sales and rental transactions.

Their ability to excel in an ever-changing market, while remaining steadfastly committed to their clients has elevated them among their peers. They possess the highest respect for the discretion and integrity required by luxury real estate sales. Through a combination of hard work, talent and professionalism, they have developed a brand that instills confidence and trust.

Todd has been recognized year-over-year as one of the top 500 agents by NRT out of more than 50,000 sales associates. A graduate of Vanderbilt University, where he was captain of the men’s varsity tennis team, Todd earned his master’s degree in real estate and has enjoyed success in equity trading, development, and the marketing and sale of commercial and luxury residential real estate—all of which provided him with well-honed negotiating skills that benefit both buyers and sellers.

A lifelong resident of Palm Beach, Frances began her real estate career in 2005 and has a thorough understanding of this unique market and all it has to offer. With a background in art history, she has a keen eye for architecture and interior design and delights in curating properties for new and existing clients to match their real estate needs.

Frances and Todd are also members the Sotheby’s International Realty Market Leaders Group, which is an elite network of the Top 40 Sotheby’s International Realty real estate agents in the country. Together, their warm, cheerful demeanor makes them a joy to work with. francesandtodd.com

phone

email

561 281 0031

todd.peter@sothebyshomes.com

phone

email

561 273 6128

frances.peter@sothebyshomes.com

Market Report

Market Snapshot Palm Beach

Single Family Homes

Highlight: ASP vs units

$3.0

60

$2.5

50

$2.0

40

$1.5

30

$1.0

20

$0.5

10

$0.0

0

*Price in Millions

Total Volume 88 % 12 %

Palm Beach West Palm Beach

Average Selling Price vs. Total Units Sold 146.9m $ 20.6m $

*In Millions

Average Selling Price Total Units Sold

2018

70

2017

$3.5

2016

Palm Beach

80

2015

e

$4.0

2014

West Palm Beach

Highlighting Single Family Homes Palm Beach and West Palm Beach

$14 $12 $10

Highlight: Units Sold

$8

Palm Beach

Highlights: West Palm Beach Median Sale Price

$6 $4 $2

Median Selling Price 4.0m $ 0.6m

$

West Palm Beach

*Price in Millions

Palm Beach

$-

Palm Beach West Palm Beach

Total Units Sold 47 % 53 %

Palm Beach West Palm Beach

22 25

*In Millions

Q3 Market Snapshot

/ Palm Beach Q3 Market Update

at a glance {Q3 | 2018}

palm beach

Single Family Homes

147m

$

Total Sales Volume

5

%

Change of Units Sold {2018 v 2017}

22 Units Sold

6.7m

$

Average Selling Price

SINGLE FAMILY HOMES | Q3 2018

Palm Beach Average Selling Price | Median Selling Price | Units Sold $8

30

$7

25

$6 20

$5 $4

15

$3

10

$2 5

$1 $0

0

2014

2015

2016

2017

2018

*Price in Millions

Average Selling Price Median Selling Price

Total Units Sold

S OT H E BYSH OME S.C OM/PALMB E AC H

Average Median Sold Selling Price Selling Price Volume

Units Sold

29%

6%

36%

5%

2018

$6,677,383

$3,975,000

$146,902,425 22

2017

$5,157,902

$3,750,000

$108,315,941

2016

$6,275,708

$4,175,000

$138,065,567 22

2015

$5,223,068

$4,185,000

$114,907,496

22

2014

$6,312,875

$4,150,000

$176,760,491

28

Q3 {2018 v 2017}

Change

21

Palm Beach Single Family Homes

/ Palm Beach Q3 Market Update

at a glance {Q3 | 2018}

west palm beach Single Family Homes

20.6m

$

Total Sales Volume

-19

%

Change of Units Sold {2018 v 2017}

25 Units Sold

824k

$

Average Selling Price

SINGLE FAMILY HOMES | Q3 2018

West Palm Beach Average Selling Price | Median Selling Price | Units Sold $0.9

60

$0.8

50

$0.7 $0.6

40

$0.5

30

$0.4 $0.3

20

$0.2

10

$0.1 $0.0

0

2014

2015

2016

2017

2018

*Price in Millions

Average Selling Price Median Selling Price

Total Units Sold

S OT H E BYSH OME S.C OM/PALMB E AC H

Average Median Sold Selling Price Selling Price Volume

Units Sold

11%

-5%

-10%

-19%

2018

$824,240

$550,000

$20,606,000

25

2017

$742,282

$578,000

$23,010,750

31

2016

$622,229

$392,500

$29,867,000

48

2015

$724,002

$462,000

$31,856,066

44

2014

$780,527

$512,500

$37,465,275

48

Q3 {2018 v 2017}

Change

West Palm Beach Single Family Homes

/ Palm Beach Q3 Market Update

Market Snapshot

Highlight: ASP vs units

Condominiums

120

$1.00

100

$0.80

West Palm Beach

40

$0.20

20

$0.00

0

16 % 36 % 48 %

Palm Beach | In-Town South End West Palm Beach

Average Selling Price vs. Total Units Sold 9m $ .8m $ 1.5m $.

*In Millions

Average Selling Price Total Units Sold

2018

$0.40

2017

60

*Price in Millions

Total Volume

80

$0.60

2016

Palm Beach | South End

Highlight: Closed Volume

2015

Palm Beach | InTown

$1.20

2014

Palm Beach

Highlighting Condominiums

Palm Beach In-Town, Palm Beach South End, and West Palm Beach

$900 $800

Palm Beach | In-Town

$700 $600

Highlig Units S

West Palm Beach

$500

Highlights: Median Sale Price

$400

Palm Beach | South End

$300 $200 $100

Median Selling Price 775k $ 465k $ 540k

$

Palm Beach | In-Town South End West Palm Beach

West Palm Beach

Palm Beach | South End

*Price in Thousands

Palm Beach | In-Town

$-

Total Units Sold 18 % 50 % 32 %

Palm Beach | In-Town South End West Palm Beach

15 42 27

*In Thousands

Q3Market Snapshot

/ Palm Beach Q3 Market Update

at a glance {Q3 | 2018}

palm beach | in-town Condominiums

14.2m

$

Total Sales Volume

-21

%

Change of Units Sold {2018 v 2017}

15 Units Sold

949k

$

Average Selling Price

CONDOMINIUMS | Q3 2018

Palm Beach | In-Town Average Selling Price | Median Selling Price | Units Sold $1.4 35 $1.2

30

$1.0

25

$0.8

20

$0.6

15

$0.4

10

$0.2

5

$0.0

0

*Price in Millions 2014

2015

2016

Average Selling Price Median Selling Price

2017

2018

Total Units Sold

S OT H E BYSH OME S.C OM/PALMB E AC H

Average Median Sold Selling Price Selling Price Volume

Units Sold

-25%

-18%

-41%

-21%

2018

$949,633

$775,000

$14,244,500

15

2017

$1,269,973

$940,000

$24,129,500

19

2016

$981,647

$645,000

$16,688,000

17

2015

$1,303,520

$890,000

$32,588,000

25

2014

$1,127,010

$633,075

$32,683,399

29

Q3 {2018 v 2017}

Change

Palm Beach In-Town Condominiums

/ Palm Beach Q3 Market Update

CONDOMINIUMS | Q3 2018

South End Average Selling Price | Median Selling Price | Units Sold $800

50 45

$700

40

$600

35

$500

30

$400

25 20

$300

15

$200

10

$100

5

$0

0

2014

2015

2016

2017

2018

*Price in Thousands

Average Selling Price Median Selling Price

Total Units Sold

S OT H E BYSH OME S.C OM/PALMB E AC H

Average Median Sold Selling Price Selling Price Volume

Units Sold

54%

24%

54%

0%

2018

$752,782

$465,000

$31,616,880

42

2017

$488,221

$376,250

$20,505,300

42

2016

$593,937

$475,000

$20,787,800

35

2015

$591,329

$274,500

$26,018,500

44

2014

$670,528

$330,000

$20,786,375

31

Q3 {2018 v 2017}

Change

Palm Beach Q3 Market Update / South End Condominiums

at a glance {Q3 | 2018}

south end

Condominiums

31.6m

$

Total Sales Volume

0

%

Change of Units Sold {2018 v 2017}

42 Units Sold

752k

$

Average Selling Price

at a glance {Q3 | 2018}

west palm beach Condominiums

41.6m

$

Total Sales Volume

13

%

Change of Units Sold {2018 v 2017}

27 Units Sold

1.5m

$

Average Selling Price

CONDOMINIUMS | Q3 2018

West Palm Beach Average Selling Price | Median Selling Price | Units Sold 35

$1,800 $1,600

30

$1,400 25

$1,200 $1,000

20

$800

15

$600

10

$400 5

$200

0

$0

2014

2015

2016

2017

2018

*Price in Thousands

Average Selling Price Median Selling Price

Total Units Sold

S OT H E BYSH OME S.C OM/PALMB E AC H

Average Median Sold Selling Price Selling Price Volume

Units Sold

206%

34%

244%

13%

2018

$1,541,674

$540,000

$41,625,217

27

2017

$503,967

$402,500

$12,095,225

24

2016

$465,200

$357,500

$13,956,000

30

2015

$522,621

$430,000

$14,633,400

28

2014

$710,657

$450,000

$13,502,500

19

Q3 {2018 v 2017}

Change

West Palm Beach Condominiums

/ Palm Beach Q3 Market Update

Currently Offering

Gemini Manalapan Gemini, a 15-acre ocean-to-lake estate, stands alone in all of the Palm Beaches for its beauty, privacy, amenities and sheer scale.

Offering a remarkable combination of 1,200 ± feet of dune-lined beach on the Atlantic with 1,300 ± feet of frontage on Lake Worth, Gemini is perched atop a dune, with 360-degree views.

A true family compound, the estate offers a 12-bedroom main residence; two four-bedroom beachside cottages; the seven-bedroom Mango House; and a guest or staff house comprising four studios and apartments. In total there are more than 30 bedrooms. The centerpiece main residence offers 62,200 ± square feet with both ocean and lake views.

Gemini offers an array of recreational amenities, including a swimming pool, PGA standard golf area, regulation tennis court, half basketball court, fitness center and spa.

Pathways lead to the beach on the ocean as well as to a dock and pier on the lake for boating and water sports.

The offering of this exclusive enclave affords a once in a generation opportunity to acquire a family compound that simply cannot be replicated.

Offered at $137.5 million GEMINIPALMBEACH.COM

Seminole Beach Direct Oceanfront North Palm Beach Secluded on 1.4 gated acres in Seminole Landing is an estate of understated elegance and Caribbean inspiration. The 25,878-squarefoot residence takes full advantage of its oceanfront location, blurring the lines between indoors and out and allowing for the most pleasurable resortlike lifestyle. The style of British West Indies-with its breezy outdoor spaces and light-filled, view-focused interiorsoffered inspiration and was adapted for relaxed, refined modern living.

The formal living and dining room is subdued and sophisticated, featuring ocean views, a warming fireplace, and disappearing glass walls that allow for effortless indoor-outdoor living.

Elegantly styled and outfitted for culinary pursuits, the kitchen includes an island with a hidden television, a coffee bar, refrigerator drawers, a walk-in pantry, counter seating, and a breakfast area with a beach view. The adjoining family room gives way to an alfresco dining area.

The grounds offer swaths of lush lawn, a swimming pool with a waterslide and a spa, lounge areas with fire pits, a half basketball court, and a putting green. The estate also encompasses a delightful “Cabana House� and a guesthouse that comprises two, two-bedroom apartments. The community offers proximity to the Seminole Golf Club and numerous other championship courses, completing the consummate Florida lifestyle.

Offered at $49.5 million SEMINOLEBEACHROAD.COM

Admirals Cove Waterfront Jupiter Located in the prestigious gated community of Admirals Cove, this stunning Mediterranean style home is situated on 225’ of water frontage on a direct Intracoastal point lot with panoramic views of the waterway.

Offering the ultimate in luxury and privacy, the property boasts exquisite details throughout and provides the best of indoor and outdoor living.

Built in 2000, the 15,619± total square foot residence has 5 bedrooms, 7 full baths and 1 half bath with spacious outdoor loggias, a waterfront pool, a dock located on a protected canal, a 3-car garage with an additional golf cart bay, a brand new full house generator, hurricane impact doors and windows, and much more. Admirals Cove has every amenity imaginable from 45 holes of golf, 2 driving ranges, 2 club houses, a marina, a gym, restaurants, a salon and spa, a new tennis complex with tennis and pickle ball courts, playgrounds and children’s programs, dog parks, additional car storage, and full time security.

Offered at $13.9 million 207COMMODOREDRIVE.COM

50-Acre Ranch Colony Estate Jupiter

JUPITEREQUESTRIANESTATE.COM

In the desirable gated community of Ranch Colony, this 50-acre estate is one of southern Florida’s most exceptional properties. In addition to a majestic Mediterranean-inspired residence overlooking a private four-acre lake, it features a heated saltwater pool, a guesthouse, currently an eight-stall barn with living quarters, a riding and jumping arena, eight turnout paddocks, three turnout structures, and riding trails winding through cypress and pine trees.

Offered at $17,900,000

New Custom Estate in Old Palm Palm Beach Gardens

OLDPALMCUSTOMESTATE.COM

Recently completed by Couture Homes, this new construction masterpiece captures the essence of modern Florida living. Situated on over an acre of land overlooking the Old Palm golf course, the home gracefully incorporates functional outdoor living spaces and beautiful interiors with clean lines and only the finest custom finishes.

Offered at $9.100,000

North Lake Way Modern Regency Palm Beach

742NLAKEWAY.COM

Completely re-built custom home on one of the highest elevation lots in all of Palm Beach.

This exceptional modern regency home has 4 oversized bedrooms, 4 full baths and 2 half baths, and a total square footage of just over 6,000. Only the highest quality materials and finishes were used to complete this extraordinary home.

Offered at $7.900,000

Brazilian Avenue Townhome Palm Beach

444BRAZILIAN.COM

This elegant townhome is ideally located in close proximity to Worth Avenue, the town docks, the beach, restaurants and shopping. The residence offers the ultimate in privacy with a gated entry and mature landscaping. Built in 1999, the 5,255Âą total square foot townhome has 3 bedrooms, 3 and a half baths, a lap pool and a 2-car garage.

Offered at $5,900,000

Waterview Towers West Palm Beach

WATERVIEWTOWERS1703.COM

A complete renovation was just finished on this beautiful two bedroom two bath unit with incredible views of the intracoastal waterway, Palm Beach, and the ocean beyond. Just a short walk or bike ride across the new bridge to Palm Beach and the newly renovated Royal Poinciana Plaza, this fantastic unit has it all. The property is also available fully furnished.

Offered at $1,695,000

Palmsea Direct Oceanfront Palm Beach SOTHEBYSHOMES.COM/0077813

Enjoy spectacular direct ocean views from every room of this completely renovated 2-bedroom, 2-bath condominium. The oceanfront living and dining area has a wet bar with mini fridge, and doors leading to the oceanfront balcony. The balcony has space for lounging and dining al fresco.

The Kitchen has brand new appliances, ample storage, and opens to the main living and dining area with water views beyond.

Building amenities include an oceanfront pool, deeded beach access, a gym, pool house/club house, outdoor grill area and doorman.

Offered at $795,000

Select Sales

Todd & Frances’ Recent Sales

NORTH END OCEANFRONT ESTATE

$49.5 million MAGNIFICENT WATERFRONT HOME

$5.495 million NORTH OCEAN BOULEVARD

$15.75 million 300 RIDGEVIEW

$15 million From left to right, top to bottom

Todd & Frances Peter 561 281 0031 | francesandtodd.com PALM BEACH BROKERAGE 340 Royal Poinciana Way, Suite 337, Palm Beach, FL 33480

© MMXVIII Sotheby’s International Realty, Inc. All Rights Reserved. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. Operated by Sotheby’s International Realty, Inc. 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. Equal housing opportunity.