Todd & Frances Peter | Q4 2018 Market Update

Todd & Frances Peter Palm Beach Market Update

GEMINI

Manalapan

Todd & Frances Peter Senior Global Real Estate 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

$4.5

70

$4.0

West Palm Beach

60

$3.5

West Palm Beach

ht: olume

50

$3.0

Palm Beach

$2.5

40

$2.0

30

$1.5

20

$1.0 10

$0.5

0

Total Volume 68 % 32 %

Palm Beach West Palm Beach

Average Selling Price vs. Total Units Sold 79.1m $ 37.8m

$

*In Millions

Average Selling Price Total Units Sold

2018

2017

2016

2015

2014

$0.0 *Price in Millions

Highlighting Single Family Homes Palm Beach and West Palm Beach

$14 $12

Palm Beach

$10

Highlight: Units Sold

$8 $6

Highlights: Median Sale Price West Palm Beach

$4 $2

Median Selling Price 4.5m $ 0.6m $

West Palm Beach

*Price in Millions

Palm Beach

$-

Palm Beach West Palm Beach

Total Units Sold 27 % 73 %

Palm Beach West Palm Beach

22 25

*In Millions

Q4 Market Snapshot

/ Palm Beach Q4 Market Update

at a glance {Q4 | 2018}

palm beach

Single Family Homes

79.1m

$

Total Sales Volume

-38

%

Change of Units Sold {2018 v 2017}

13 Units Sold

6.1m

$

Average Selling Price

SINGLE FAMILY HOMES | Q4 2018

Palm Beach Average Selling Price | Median Selling Price | Units Sold $10

25

$9 20

$8 $7 $6

15

$5 $4

10

$3 $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

-31%

-34%

-57%

-38%

2018

$6,086,808

$4,480,000

$79,128,500

13

2017

$8,786,930

$6,750,000

$184,525,536 21

2016

$4,149,792

$2,982,500

$66,251,232

16

2015

$7,467,896

$5,400,000

$134,422,131

18

2014

$4,996,696

$4,050,000

$114,924,000 23

Q4 {2018 v 2017}

Change

Palm Beach Single Family Homes

/ Palm Beach Q4 Market Update

at a glance {Q4 | 2018}

west palm beach Single Family Homes

37.8m

$

Total Sales Volume

38

%

Change of Units Sold {2018 v 2017}

36 Units Sold

1.05m

$

Average Selling Price

SINGLE FAMILY HOMES | Q4 2018

West Palm Beach Average Selling Price | Median Selling Price | Units Sold $1.2

45 40

$1.0

35

$0.8

30 25

$0.6

20

$0.4

15 10

$0.2

5

$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

95%

32%

170%

38%

2018

$1,051,262

$622,000

$37,845,450

36

2017

$539,285

$470,000

$14,021,410

26

2016

$549,570

$356,000

$20,883,650

38

2015

$651,423

$485,000

$22,799,800

35

2014

$726,885

$500,000

$28,348,500

39

Q4 {2018 v 2017}

Change

West Palm Beach Single Family Homes

/ Palm Beach Q4Market Update

Market Snapshot Palm Beach

Highlight: ASP vs units

Condominiums

$1.20

100 90

$1.00

West Palm Beach

Palm Beach | In-Town

$0.80

80

Highlight: Closed Volume

70 60

$0.60

50 40

$0.40

30

Palm Beach | South End

20

$0.20

10 $0.00

Total Volume 34 % 33 % 33 %

Palm Beach | In-Town South End West Palm Beach

Average Selling Price vs. Total Units Sold 1.2m $ .7m $ 1.3m $

*In Millions

Average Selling Price Total Units Sold

2018

2017

2016

2015

2014

*Price in Millions

0

Highlighting Condominiums

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

$900 $800 $700

West Palm Beach

$600 $500

Palm Beach | In-Town

Highlights: Median Sale Price

Highlig Units S

$400

Palm Beach | South End

$300 $200 $100

Median Selling Price 850k $ 642k $ 440k

$

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 28 % 46 % 26 %

Palm Beach | In-Town South End West Palm Beach

22 36 20

*In Thousands

Q4Market Snapshot

/ Palm Beach Q4 Market Update

at a glance {Q4 | 2018}

palm beach | in-town Condominiums

27m

$

Total Sales Volume

57

%

Change of Units Sold {2018 v 2017}

22 Units Sold

1.2m

$

Average Selling Price

CONDOMINIUMS | Q4 2018

Palm Beach | In-Town Average Selling Price | Median Selling Price | Units Sold $1.8

30

$1.6 25

$1.4 $1.2

20

$1.0 15 $0.8 $0.6

10

$0.4

5

$0.2 $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

-10%

7%

41%

57%

2018

$1,226,332

$850,000

$26,979,325

22

2017

$1,362,607

$793,500

$19,076,504

14

2016

$1,577,625

$1,126,250

$18,931,500

12

2015

$1,474,733

$712,500

$39,817,809

27

2014

$1,453,436

$999,625

$26,161,850

18

Q4 {2018 v 2017}

Change

Palm Beach In-Town Condominiums

/ Palm Beach Q4 Market Update

CONDOMINIUMS | Q4 2018

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

45

$700

40 35

$600

30

$500

25

$400

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

43%

89%

56%

9%

2018

$726,757

$642,000

$26,163,280

36

2017

$508,543

$340,000

$16,781,944

33

2016

$654,560

$400,000

$16,364,000

25

2015

$527,785

$350,000

$20,583,650

39

2014

$467,452

$322,000

$19,632,999

42

Q4 {2018 v 2017}

Change

Palm Beach Q4 Market Update / South End Condominiums

at a glance {Q4 | 2018}

south end

Condominiums

26.2m

$

Total Sales Volume

9

%

Change of Units Sold {2018 v 2017}

36 Units Sold

727k

$

Average Selling Price

at a glance {Q4 | 2018}

west palm beach Condominiums

26.5m

$

Total Sales Volume

5

%

Change of Units Sold {2018 v 2017}

20 Units Sold

1.3m

$

Average Selling Price

CONDOMINIUMS | Q4 2018

West Palm Beach Average Selling Price | Median Selling Price | Units Sold $1,400 40 35

$1,200

30

$1,000

25 $800 20 $600 15 $400

10

$200

5

$0

0

*Price in Thousands 2014

2015

2016

2017

Average Selling Price Median Selling Price

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

19%

31%

26%

5%

2018

$1,325,445

$440,000

$26,508,900

20

2017

$1,110,342

$335,000

$21,096,500

19

2016

$521,708

$341,000

$18,781,500

36

2015

$537,100

$420,000

$15,575,900

29

2014

$429,025

$357,500

$8,580,500

20

Q4 {2018 v 2017}

Change

West Palm Beach Condominiums

/ Palm Beach Q4 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 $17,750,000

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 $7.500,000

North End Regency Cabana Street Palm Beach

1225NORTHLAKEWAY.COM

North end Regency style home situated on an oversized corner lot on North Lake Way and Mockingbird. Located only one house from the Intracoastal, the home has easy access to the Lake Trail and also has ocean access at the end of the street through the Mockingbird beach cabana. Offering 3,967 total square feet with 4-bedrooms, 5-full baths, a two car garage and pool.

Offered at $4.295,000

Sutton Place Direct Intracoastal Palm Beach SUTTONPLACE108N.COM

Sensational direct Intracoastal views from this spacious 2-bedroom, 2-bath apartment located on the lanai level with floor-to-ceiling doors and windows looking out to an expansive waterfront terrace and gardens.

Kitchen has granite countertops, breakfast area and doors leading outside. Sutton Place has recently completed upgrades to the lobby, hallways, elevators, pool and gym.

Offered at $749,000

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 $749,000

Beautiful North End Rental Palm Beach SOTHEBYSHOMES.COM/0077806

Wonderful north-end rental with 4 bedrooms, 5 1/2 baths plus a Library/5th bedroom with en-suite bath. Amazing loggia with retractable screens, tv, dining and seating area overlooking the pool, spa and coquina terrace. Large family room opens to the built-in breakfast area and kitchen. Master bedroom located on first floor with dual bathrooms and a walk-in closet. Three guest bedrooms with en-suite baths and closets located on the 2nd floor. Deeded beach access, generator and 2-car garage.

Offered at $40,000/Month

Elegant North End Rental Palm Beach SOTHEBYSHOMES.COM/0077901

Beautiful north end home available weekly during season or for the month of March.

Available for a Christmas/New Year’s Rental starting December 17th. Also available for Easter. Elegantly furnished with 4 Bedrooms, 5 full baths, a large outdoor loggia with summer kitchen and pool.

Offered at $15,000/Weekly

Select Sales NORTH END OCEANFRONT ESTATE

$49.5 million

Todd & Frances’ Recent Sales PENDING

WATER VIEW TOWERS

$1.695 million MAGNIFICENT WATERFRONT HOME

$5.495 million BRAZILIAN AVENUE TOWNHOME

$5.9 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.