The Pohrer Report - January to June, 2023

THE POHRER REPORT JANUARY TO JUNE, 2023

Inside South Florida’s most exclusive real estate market.

Photographed home: 120 Via Del Lago. Listed by Gary Pohrer.

Featured Property 120 Via Del Lago, one of Marion Sims Wyeth’s classic Palm Beach masterpieces.

Situated on nearly an acre in the Estate Section of Palm Beach, this approximately 13,000 square foot home exudes true precision in its design.

Listed at $37.5M.

CONTENTS 3 4 8 11 13 15 19

Let te r f ro m Gar y Po hrer Si n g l e Family Ho mes: A ll Neighborhoods Si n g l e Family Ho mes: No r th End Si n g l e Family Ho mes: In-Town Si n g l e Family Ho mes: Estate Se ction C on d os & Townho mes: A ll Neighborhoods In C l os i n g

GARY POHRER | GARYPOHRER.COM | 2

Letter From Gary The 2023 season is nearing its end and it’s been another lively one at that. Having experienced several quarters in a row of decreasing transaction volume, we wanted to make sure The Pohrer Report delivers plenty of fresh new information and insights. Thus, instead of publishing quarterly reports, we will now deliver twice a year, with our first report showcasing activity from January through June, and our year-end report covering Q3/Q4 activity and a comprehensive overview of the entire year.

As I dove into the key performance metrics from Q1 and Q2 of 2023, some trends emerged from both the data and the activity I’ve seen on the ground.

• Total Sales Value was overall still higher than pre-pandemic levels. Even though transactions are slowing and inventory is building, we still saw tremendous activity, with over $1.6B in sales value transacting in the first half of 2023 across single family homes, condos and townhomes.

• We started to feel the uncertainty people have around the larger macroeconomic climate. Inventory reached the highest levels we’ve seen in quite some time, and there was less urgency around making offers.

• When removing the 3 outlier $100M+ sales from our database we began to see some weakening across PPSF and average sale price year-over-year. Average sale price was down across both waterfront and non-waterfront homes and PPSF was flat on waterfront home sales and down across non-waterfront home sales.

• We continued to see pre-pandemic traffic patterns return to normal, with December to April being a very active time of daily showings. Activity slowed to one or two showings per week during the off season.

I hope you enjoy the read. As always, please don’t hesitate to reach out with any questions or if I can be of assistance to you in any way.

$1.5B+

#1

In Sales Since 2020*

Douglas Elliman Palm Beach Realtor for Sales Volume From 2017-2021**

#30

20

Ranked Nationwide 2023 REALTrends + Tom Ferry The Thousand***

Years Selling Real Estate in Florida

Best regards,

Gary Pohrer Executive Director of Luxury Sales Douglas Elliman 340 Royal Poinciana Way M302 Palm Beach, FL 33480 O: 561.655.8600 M: 561.262.0856 gary.pohrer@elliman.com garypohrer.com

REPORT CONTRIBUTORS

Tammy Bernstein

Sales Associate

Beth Johnson

Elizabeth Tristan

Sales Associate Sales Associate Market Insights Advisor

*PER DOUGLAS ELLIMAN INTERNAL RECORDS. **AS RECOGNIZED BY THE DOUGLAS ELLIMAN ELLIE AWARDS FROM 2017-2021. *** RANKED IN 2023 INDIVIDUAL BY SALES VOLUME 2022 REALTRENDS + TOM FERRY THE THOUSAND.

GARY POHRER | GARYPOHRER.COM | 3

SINGLE FAMILY HOMES ALL NEIGHBORHOODS

1H Summary: Single Family Homes: All Neighborhoods Transaction volume was down -43% year-over-year (YOY)* in the first half of 2023, largely driven by decline across both waterfront and non-waterfront properties.

Total sales value* was down -21% YOY, driven by a -49% decrease in non-waterfront sales. Even though waterfront transactions were down, there were several premium sales in the first half of 2023, resulting in flat YOY sales value for waterfront properties.

Price per square foot (PPSF)* across home size* (PPSF: Home Size) grew +1% on waterfront sales and declined -10% on non-waterfront sales. % CHANGE

IH 2023

1H 2022

TRANSACTIONS

47

82

-43%

WATERFRONT

15

19

-21%

NON-WATERFRONT

32

63

-49%

TOTAL SALES VALUE

$1,220,208,104

$1,550,565,935

-21%

WATERFRONT

$816,493,725

$759,431,380

8%

NON-WATERFRONT

$403,714,379

$791,134,555

-49%

WATERFRONT

$37,807,210

$39,970,073

-5%

NON-WATERFRONT

$9,797,238

$12,557,691

-22%

WATERFRONT

$5,578

$5,507

1%

NON-WATERFRONT

$2,949

$3,287

-10%

WATERFRONT

$1,288

$1,469

-12%

NON-WATERFRONT

$911

$935

-3%

YEAR OVER YEAR

AVERAGE SALES PRICE*

AVERAGE PPSF: HOME SIZE*

AVERAGE PPSF: LOT SIZE*

*Please note that this quarter we removed three outlier sales ($100M+) from our calculations when tabulating the average sale price and PPSF metrics as we felt it did not give an accurate picture of the current state of the market as it relates to pricing.

Year-over-year (YOY): A method of evaluating two or more measured events, comparing the results of one period with those of a comparable period on an annualized basis.

Total sales value: The sum of all sales during a period of time.

Price per square foot (PPSF): A calculation of the value of each square foot of area of a house, condo or any building. It is calculated by dividing the price by the square footage.

PPSF: Home Size: This is based on the current under air square footage.

PPSF: Lot Size: This is based on the PPSF of the total lot.

Sale to List Ratio: The ratio of the final sale price of a home to its list, or asking, price expressed as a percentage.

If the sale to list ratio is above 100%, the home sold for more than the list price. If it’s less than 100%, the home sold for less than the list price.

GARY POHRER | GARYPOHRER.COM | 5

Inventory: Active Listings In the first half of the year, inventory really started to build up in single family homes. Active listings were up +52% YOY, from an average of 50 active listings in 1H 2022 to an average of 75 active listings in 1H 2023.

200

194

190

172

ACTIVE LISTINGS

150

150 137

130

122

100

84

105 60

68

50 38

39

31

40

JUN-23

MAR-23

DEC-22

SEP-22

JUN-22

MAR-22

DEC-21

SEP-21

JUN-21

MAR-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

0%

Days On Market The rate at which homes sold decreased by -82%. In 1H 2022, homes spent an average of 129 days on the market, whereas in 1H 2023, homes stayed on the market an average of 234 days.

234 DAYS

590

600

571

425

400 357 335

322

300 215 193

200 145

170 148

120 138

100 73

108

0

95

GARY POHRER | GARYPOHRER.COM | 6

JUN-23

MAR-23

DEC-22

SEP-22

MAR-22

DEC-21

SEP-21

JUN-21

MAR-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

39 JUN-22

DAYS ON MARKET

500

Sale to List Ratio* It’s fair to say we have entered a period of discovery, in which the assumptions made on a property’s value are not holding at the level they have in recent years. In the first half of 2023, homes no longer sold at 95%+ of list price and the sale to list ratio dropped to 78% of original list price.

105

105

SALE TO LIST RATIO

100

98

95

97

96

93

90

88

88

91

86

86

87

85 85

80

79

77

78

75

76 74

JUN-23

MAR-23

DEC-22

SEP-22

JUN-22

MAR-22

DEC-21

SEP-21

JUN-21

MAR-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

70

Sale to List Ratio: The ratio of the final sale price of a home to its list, or asking, price expressed as a percentage.

If the sale to list ratio is above 100%, the home sold for more than the list price. If it’s less than 100%, the home sold for less than the list price.

GARY POHRER | GARYPOHRER.COM | 7

NORTH END SINGLE FAMILY HOMES Palm Beach’s North End, located north of Wells Road, is celebrated for quiet seclusion. Thanks to zoning laws that prohibit condos and commercial properties in this area, many residents enjoy private beachfront views.

1H 2023 Summary: Single Family Homes: North End Transaction volume was down -62% YOY in the first half of 2023.

Total sales value was down -22%, largely driven by a -74% decline in non-waterfront sales value.

PPSF: Home Size was down -11% on waterfront homes and down -5% on non-waterfront sales.

% CHANGE

1H 2023

1H 2022

TRANSACTIONS

18

47

-62%

WATERFRONT

7

9

-22%

NON-WATERFRONT

11

38

-71%

TOTAL SALES VALUE

$639,776,730

$820,223,780

-22%

WATERFRONT

$538,670,600

$350,664,750

54%

NON-WATERFRONT

$101,106,130

$469,559,030

-78%

WATERFRONT

$42,734,120

$38,962,750

10%

NON-WATERFRONT

$9,191,466

$12,356,817

-26%

WATERFRONT

$5,777

$6,527

-11%

NON-WATERFRONT

$3,146

$3,316

-5%

WATERFRONT

$1,247

$852

46%

NON-WATERFRONT

$713

$1,378

-48%

YEAR OVER YEAR

AVERAGE SALES PRICE*

AVERAGE PPSF: HOME SIZE*

AVERAGE PPSF: LOT SIZE*

*Please note that this quarter we removed three outlier sales ($100M+) from our calculations when tabulating the average sale price and PPSF metrics as we felt it did not give an accurate picture of the current state of the market as it relates to pricing.

GARY POHRER | GARYPOHRER.COM | 9

Most Recent North End Sales SALE PRICE

SF HOME SIZE

PPSF ($)

YES

26,115

YES

21,754

ADDRESS

WATERFRONT?

$170,000,000

589 N COUNTY ROAD

$155,000,000

1495 N OCEAN BOULEVARD

APPROX.

SF LOT SIZE

PPSF ($)

$6,510

69,099

$2,460

$7,125

115,430

$1,343

HOME SIZE

APPROX.

LOT SIZE

$68,145,600

149 E INLET DRIVE

YES

11,706

$5,821

62,753

$1,086

$66,000,000

1350 N LAKE WAY

YES

13,375

$4,935

35,632

$1,852

$34,900,000

107 DOLPHIN ROAD

YES

3,579

$9,751

10,001

$3,490

$23,000,000 1330 N OCEAN BOULEVARD

YES

3,676

$6,257

48,391

$475

$21,625,000

1246 N LAKE WAY

YES

4,649

$4,652

14,584

$1,483

$14,000,000

515 N LAKE WAY

NO

3,023

$4,631

12,092

$1,158

$13,150,000

233 MIRAFLORES DRIVE

NO

3,694

$3,560

13,665

$962

$11,350,000

110 MOCKINGBIRD TRAIL

NO

2,931

$3,872

21,967

$517

$9,500,000

224 VIA MARILA*

NO

3,641

$2,609

16,474

$577

$9,237,430

239 WELLS ROAD

NO

3,001

$3,078

14,000

$660

$8,625,000

232 LA PUERTA WAY

NO

3,133

$2,753

12,502

$690

$8,300,000

224 BAHAMA LANE

NO

2,488

$3,336

10,171

$816

$7,475,000

151 SEAGATE ROAD*

NO

3,386

$2,208

11,021

$678

$6,818,700

111 REEF ROAD

NO

2,853

$2,390

10,001

$682

$6,550,000

1171 N OCEAN WAY

NO

Lot Sale

Lot Sale

9,727

$673

$6,100,000

209 LIST ROAD*

NO

2,618

$2,330

10,132

$602

*These listings were sold/represented by Gary Pohrer of Douglas Elliman Real Estate.

GARY POHRER | GARYPOHRER.COM | 10

\

IN-TOWN SINGLE FAMILY HOMES Nestled between Worth Avenue and Wells Road lies the energetic center of Palm Beach Island, In-Town. Packed with shops, secluded beaches, and five-star restaurants, this hub of culture and leisure lures residents with a flair for cosmopolitan life.

1H 2023 Summary: Single Family Homes: In-Town In-Town transaction volume was down -25% YOY in the first half of 2023.

Total sales value was down -42% YOY at $129M in the first half of 2023, compared to $225M in the first half of 2022.

In-Town PPSF: Home Size was down -14% YOY, and PPSF: Lot Size was down -8% YOY in the first half of 2023.

% CHANGE

1H 2023

1H 2022

15

20

-25%

TOTAL SALES VALUE

$129,819,074

$225,422,775

-42%

AVERAGE SALES PRICE

$8,654,605

$11,271,139

-23%

AVERAGE PPSF: HOME SIZE

$2,709

$3,162

-14%

AVERAGE PPSF: LOT SIZE

$1,161

$1,255

-8%

TRANSACTIONS

YEAR OVER YEAR

Most Recent In-Town Sales SALE PRICE

SF HOME SIZE

PPSF ($)

SF LOT SIZE

PPSF ($)

ADDRESS

WATERFRONT?

$16,200,000

130 COCOANUT ROW

NO

5,786

$2,800

14,523

$1,115

$14,000,000

315 COCOANUT ROW*

NO

4,503

$3,109

10,202

$1,372

$12,005,756

220 BRAZILIAN AVENUE

NO

4,010

$2,994

8,560

$1,403

$10,700,000

160 SUNSET AVENUE

NO

4,530

$2,362

6,752

$1,585

APPROX.

HOME SIZE

APPROX.

LOT SIZE

$8,935,000

163 SEABREEZE AVENUE

NO

2,877

$3,106

6,125

$1,459

$8,312,000

218 BRAZILIAN AVENUE

NO

4,010

$2,073

8,560

$971

$8,120,000

159 AUSTRALIAN AVENUE

NO

3,324

$2,443

10,498

$773

$7,960,818

323 CHILEAN AVENUE

NO

2,761

$2,883

9,374

$849

$7,575,500

315 SEASPRAY AVENUE

NO

2,574

$2,943

6,125

$1,237

$7,540,000

421 BRAZILIAN AVENUE

NO

2,788

$2,704

3,916

$1,925

$7,500,000

140 ATLANTIC AVENUE

NO

2,075

$3,614

8,242

$910

$6,200,000

254 N COUNTY ROAD*

NO

2,652

$2,338

4,439

$1,397

$5,275,000

265 PARK AVENUE

NO

1,764

$2,990

3,498

$1,508

$4,995,000

318 AUSTRALIAN AVENUE

NO

1,963

$2,545

5,750

$869

$4,500,000

263 PARK AVENUE

NO

2,306

$1,951

5,249

$857

*These listings were sold/represented by Gary Pohrer of Douglas Elliman Real Estate.

Note: Reporting in this section does not break out waterfront versus non-waterfront properties, as there are limited waterfront sales in this area. In most years, zero waterfront homes sold.

GARY POHRER | GARYPOHRER.COM | 12

ESTATE SECTION SINGLE FAMILY HOMES The Estate Section comprises all residences south of Worth Avenue to Sloans Curve.

It is renowned for its opulent residencies and exclusive social clubs including The Everglades Club, Bath and Tennis Club, and Mar-a-Lago.

1H 2023 Summary: Single Family Homes: Estate Section The Estate Section had the strongest YOY performance of all areas on Palm Beach Island.

Transactions were flat in the first half of 2023, compared to the first half of 2022.

Total sales value was only down -2% YOY when comparing the first half of 2023 to the first half of 2022.

This was driven largely by a $100M sale at 195 Via Del Mar. PPSF was up +14% YOY across waterfront sales from 1H 2022 to 1H 2023 and was down -8% YOY across non-waterfront sales from 1H 2022 to 1H 2023. % CHANGE

1H 2023

1H 2022

TRANSACTIONS

14

14

0%

WATERFRONT

8

9

-11%

NON-WATERFRONT

6

5

20%

TOTAL SALES VALUE

$450,612,300

$458,502,750

-2%

WATERFRONT

$277,823,125

$362,350,000

-23%

NON-WATERFRONT

$172,789,175

$96,152,750

80%

WATERFRONT

$34,727,891

$40,261,111

-14%

NON-WATERFRONT

$14,557,835

$19,230,550

-24%

WATERFRONT

$5,433

$4,785

14%

NON-WATERFRONT

$3,177

$3,457

-8%

WATERFRONT

$1,321

$1,469

-10%

NON-WATERFRONT

$911

$836

9%

YEAR OVER YEAR

AVERAGE SALES PRICE

AVERAGE PPSF: HOME SIZE

AVERAGE PPSF: LOT SIZE

Most Recent Estate Section Sales SALE PRICE

ADDRESS

WATERFRONT?

SF HOME SIZE

PPSF ($)

SF LOT SIZE

PPSF ($)

$100,000,000 $63,431,750 $44,975,000 $41,382,500 $36,850,000 $28,694,175 $26,663,000 $25,000,000 $24,520,875 $17,100,000 $15,000,000 $14,900,000 $9,600,000 $2,495,000

195 VIA DEL MAR 854 S COUNTY ROAD 550 S OCEAN BOULEVARD 930 S OCEAN BOULEVARD 930 S OCEAN BOULEVARD 135 GULFSTREAM ROAD 466 S OCEAN BOULEVARD 1741 S OCEAN BOULEVARD 977 S OCEAN BOULEVARD 240 EL VEDADO ROAD 124 PARC MONCEAU 125 GULFSTREAM ROAD 125 VIA VIZCAYA 2278 IBIS ISLE ROAD E

NO YES YES YES YES NO YES YES YES NO YES NO NO NO

17,424 13,085 8,146 6,528 6,528 5,925 5,954 5,266 1,677 7,820 3,950 3,504 3,532 2,133

$5,739 $4,848 $5,521 $6,339 $5,645 $4,843 $4,478 $4,747 $14,622 $2,187 $3,797 $4,252 $2,718 $1,170

70,741 87,338 21,161 19,267 19,267 17,350 7,714 24,838 20,077 28,297 10,677 10,476 11,273 12,506

$1,414 $726 $2,125 $2,148 $1,913 $1,654 $3,456 $1,007 $1,221 $604 $1,405 $1,422 $852 $200

GARY POHRER | GARYPOHRER.COM | 14

APPROX.

HOME SIZE

APPROX.

LOT SIZE

CONDOS & TOWNHOMES ALL NEIGHBORHOODS Whether you seek a large building with resort-style amenities or the boutique elegance of a small, full-service site, Palm Beach Island offers an expansive range of options just steps from shorelines, shops, restaurants and more. Palm Beach townhomes are ideal for those who seek the convenience of a condo but crave the spaciousness of a house.

1H 2023 Summary: Condominiums and Townhomes Transaction volume in the first half of 2023 was down -42% YOY, due to a -46% decline in In-Town transactions and a -40% decline in South End transactions.

Total sales value was down -32% YOY. PPSF rebounded after the decline we saw in Q4 of 2022. In the first half of 2023, PPSF was up +8% on In-Town transations and up +5% on South End transactions. % CHANGE

1H 2023

1H 2022

TRANSACTIONS

218

373

-42%

IN-TOWN

52

96

-46%

SOUTH END

166

277

-40%

TOTAL SALES VALUE

$421,988,163

$624,922,124

-32%

IN-TOWN

$219,860,550

$302,102,367

-27%

SOUTH END

$202,127,613

$322,819,757

-37%

IN-TOWN

$4,228,088

$3,146,900

34%

SOUTH END

$1,217,636

$1,165,414

4%

IN-TOWN

$2,405

$2,224

8%

SOUTH END

$764

$726

5%

YEAR OVER YEAR

AVERAGE SALES PRICE

AVERAGE PPSF: HOME

Inventory: Active Listings In the first half of 2023, inventory was up +128% YOY. The same period in 1H 2022 averaged 59 active listings per month, whereas 1H 2023 averaged 134 active listings per month.

350

333

332

323 276 250

250 236

238

200

199 146

150

146

53

GARY POHRER | GARYPOHRER.COM | 16

JUN-23

JUN-22

MAR-22

DEC-21

SEP-21

JUN-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

50

MAR-23

88

64

DEC-22

75

119

114

75

SEP-22

100

MAR-21

ACTIVE LISTINGS

300

Days On Market The number of days on market was up +24% compared to the same period last year. During 1H 2022, condos and townhomes took an average of 111 days to sell.

In 1H 2023, condos and townhomes took an average of 137 days to sell.

136 DAYS 350

305

325

DAYS ON MARKET

300 254

229

250 210

209

200 204

151

150 100

152

141

142

150

115

150

82 JUN-23

MAR-23

DEC-22

SEP-22

JUN-22

MAR-22

DEC-21

SEP-21

JUN-21

MAR-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

50

Sale to List Ratio*

89%

The sale to list ratio for condos and townhomes hovered right around 89% for the first half of 2023. This was down -7% compared to the same period last year.

100 93

SALE TO LIST RATIO

90 90

96

96

91 93

87 87

85

94

93 90

89

88

96

88

87

85

92

84

85

80 75

JUN-23

MAR-23

DEC-22

SEP-22

JUN-22

MAR-22

DEC-21

SEP-21

JUN-21

MAR-21

DEC-20

SEP-20

JUN-20

MAR-20

DEC-19

SEP-19

JUN-19

MAR-19

DEC-18

SEP-18

JUN-18

MAR-18

DEC-17

SEP-17

JUN-17

MAR-17

70

Sale to List Ratio: The ratio of the final sale price of a home to its list, or asking, price expressed as a percentage.

If the sale to list ratio is above 100%, the home sold for more than the list price. If it’s less than 100%, the home sold for less than the list price.

GARY POHRER | GARYPOHRER.COM | 17

Most Recent Condo and Townhome Sales ADDRESS

SF UNIT SIZE

PPSF ($)

$17,900,000

219 BRAZILIAN AVENUE

6,092

$2,938

$16,500,000

221 ROYAL POINCIANA WAY

6,183

$2,669

$10,400,000

2 N BREAKERS ROW, S 25

3,084

$3,372

SALE PRICE

APPROX.

UNIT SIZE

$8,500,000

130 SUNRISE AVENUE, PH 8

2,476

$3,433

$8,000,000

315 S LAKE DRIVE, PH C

2,705

$2,957

$7,650,000

360 S OCEAN BOULEVARD, 0043

2,450

$3,122

$7,400,000

100 SUNRISE AVENUE, 611

2,025

$3,654

$6,495,000

300 S OCEAN BOULEVARD, 1B

2,149

$3,022

$6,000,000

150 BRADLEY PLACE, 0616

2,290

$2,620

$5,900,000

100 WORTH AVENUE, 516

1,597

$3,694

$5,537,500

100 WORTH AVENUE, 605

2,022

$2,739

$5,500,000

100 WORTH AVENUE, 713*

3,180

$1,730

$5,500,000

340 S OCEAN BOULEVARD, 0250

1,826

$3,012

$4,982,150

355 COCOANUT ROW

2,730

$1,825

$4,525,400

429 AUSTRALIAN AVENUE, 100

1,989

$2,275

$4,500,000

44 COCOANUT ROW, 111A

1,601

$2,811

$4,500,000

330 S OCEAN BOULEVARD, 0021

2,454

$1,834

$4,459,000

44 COCOANUT ROW, 120B

1,501

$2,971

$4,425,000

130 SUNRISE AVENUE, 2070

1,983

$2,231

$4,300,000

389 S LAKE DRIVE, PHE

2,002

2,148

$4,264,000

100 WORTH AVENUE, 717

1,580

$2,699

$4,200,000

100 WORTH AVENUE, 302

1,588

$2,645

$4,000,000

44 COCOANUT ROW, 216A

1,226

$3,263

$4,000,000

100 SUNRISE AVENUE, 610

1,580

$2,532

$3,965,000

100 WORTH AVENUE, 607

1,539

$2,576

$3,675,000

44 COCOANUT ROW, 512A

1,215

$3,025

$3,575,000

389 S LAKE DRIVE, 1A*

1,541

$2,320

$3,300,000

350 S OCEAN BOULEVARD, 1030

1,186

$2,782

$3,200,000

100 WORTH AVENUE, 507

1,539

$2,079

$3,100,000

429 AUSTRALIAN AVENUE, 30

1,686

$1,839

$3,025,000

315 S LAKE DRIVE, 2A

1,816

$1,666

$2,750,000

44 COCOANUT ROW, 502A

900

$3,056

$2,725,000

250 BRADLEY PLACE, 610

1,220

$2,234

$2,700,000

354 CHILEAN AVENUE, 0066

1,193

$2,263

$2,500,000

130 SUNRISE AVENUE, 2110

1,580

$1,582

$2,500,000

127 PERUVIAN AVENUE, 2040

1,428

$1,751

$2,340,000

100 WORTH AVENUE, 421*

1,580

$1,481

$2,200,000

170 N OCEAN BOULEVARD, 308

1,395

$1,577

$2,100,000

300 S OCEAN BOULEVARD, 4G

1,257

$1,671

$2,000,000

130 SUNRISE AVENUE, 6180

1,097

$1,823

$1,994,000

170 CHILEAN AVENUE, 5A

1,201

$1,660

$1,850,000

389 S LAKE DRIVE, 3E

1,184

$1,563

$1,676,000

139 SUNRISE AVENUE, 2040

990

$1,693

$1,580,000

220 ATLANTIC AVENUE, 0060

646

$2,446

*These listings were sold/represented by Gary Pohrer of Douglas Elliman Real Estate.

GARY POHRER | GARYPOHRER.COM | 18

Most Recent Condo and Townhome Sales ADDRESS

SF UNIT SIZE

PPSF ($)

223 ATLANTIC AVENUE, F4

953

$1,600

SALE PRICE $1,525,000

APPROX.

UNIT SIZE

$1,350,000

139 SUNRISE AVENUE, 3020

990

$1,364

$1,260,000

354 CHILEAN AVENUE, 0052

782

$1,611

$845,000

235 SUNRISE AVENUE, 3107

788

$1,072

$775,000

235 SUNRISE AVENUE, G 1

1,023

$758

$700,000

235 SUNRISE AVENUE, MZ B

1,081

$648

$662,500

223 ATLANTIC AVENUE, E4

804

$824

$550,000

235 SUNRISE AVENUE, 3201

480

$1,146

In Closing We appreciate you taking the time to read our report, and hope you found our insights on the Palm Beach Island market interesting.

Economic uncertainty remains high, given four high profile bank collapses and interest rates hitting a 22 year high.

Whispers of recession are influencing purchase and sale behavior. We are just now starting to see the uncertainty manifest in the most recent purchase data, and it’s unclear the full impact it will have on Palm Beach real estate in the coming six months to a year. That said, we remain cautiously optimistic about Palm Beach Island’s unique real estate market, as we’ve consistently seen its resilience when faced with challenging economic times over the last 40 years.

As always, don’t hesitate to reach out if we can assist you with any of your real estate needs.

Warmest wishes,

Gary Pohrer Sales Associate Executive Director of Luxury Sales M: 561.262.0856 gary.pohrer@elliman.com

Source: Above data is pulled from Palm Beach MLS, The Beaches MLS and the Palm Beach Property Appraisers (PAPA). Specifically, we are only looking at transactions located in the 33480 zip code.

340 ROYAL POINCIANA WAY, M302, PALM BEACH, FL 33480. 561.655.8600 © 2023 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.

GARY POHRER | GARYPOHRER.COM | 19