The Flow Palm Beach Q1-2018

PA L M B E A C H

Q1 2018

THE FLOW Brought To You By Gary Pohrer 255 Clarke Avenue $12,950,000

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

$49M

HIGHEST SALE PRICE IN 2017

2017 ACTIVITY

Over the past 5 years the market has been consistently moving in a positive direction and 2017 is no different. 2017 saw an increase in both sales volume and number of sales despite a shrinking inventory. One of the most telling signs of confidence in the market is the activity of builders entering the market. We are already seeing this continuing trend in 2018 with multiple properties already under contract or sold to various Spec builders. One unexpected side effect of the Spec projects is the shrinking number of smaller, more affordable homes on the market due to them being demolished for much larger more expensive homes. Contact us today to find out exactly what your property’s value is in today’s market.

Palm Beach Condo Activity 2017

2016

2015

2014

2013

2012

1 YR

5 YR

10 YR

AVG Price per SQFT

$846

$791

$794

$645

$594

$555

6.95%

42.42%

9.16%

Median Price per SQFT

$680

$746

$765

$582

$500

$497

-8.85%

36.00%

3.66%

AVG Sale Price

$1,574,099 $1,284,676 $1,366,719 $1,263,275 $1,094,404 $1,118,948 22.53%

43.83%

9.18%

Median Sale Price

$950,000

$840,000

$899,500

$850,000

$680,000

$720,000

39.71%

0.80%

Number of Sales

118

82

146

119

122

123

AVG % of List Price Paid

86.60%

87.84%

89.92%

86.14%

84.06%

77.54%

Median % of List Price Paid

88.24%

87.695%

91.21%

87.32%

86.58%

79.12%

AVG Days on Market

252

192

243

314

326

382

SALES-TO-LIST PRICE

13.10%

SINGLE FAMILY SALES

ALL RESIDENTIAL

BY PRICE POINT 85.57%

86.07%

89.19%

86.72%

84.16%

78.56%

77.18%

76.07%

74.70%

82.55%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

6 8 24 63

2016

$15M+ $10M TO

$15M $5M TO

$10M UNDER $5M

12 11 29 60

2017

ROPERTY TYP E-

AM

CONDOS

F

SINGLE FAMILY & TOWNHOMES

19

AREA 3

28

Area 1 2017 Solds Area 1 Actives Area 2 2017 Solds Area 2 Actives Area 3 2017 Solds Area 3 Actives

69

AREA 2

12

2017 & CURRENT ACTIVES

17

116

PER SQAURE FOOT

- 20

SING LE

SA L

7

118

AVERAGE PRICE

E SALES HOM BY ILY A A RE

2

01

ES

P BY

AREA 1

LAND

$1,038 $1,434 $884 $1,074 $1,261 $1,754

Single Family & Townhome Wells Rd & North Activity (Area 1) 2017

2016

2015

2014

2013

2012

1 YR

5 YR

10 YR

AVG Price per SQFT

$1,050

$1,016

$989

$819

$670

$573

3.35%

57%

37.80%

Median Price per SQFT

$1,001

$935

$879

$752

$620

$528

7.1%

61%

36.56%

AVG Sale Price

$6,754,174 $6,781,342 $5,825,280 $4,538,560 $3,171,050 $2,867,499 -0.4%

113%

74.45%

Median Sale Price

$4,600,000 $3,750,000 $4,450,000 $3,375,000 $2,275,000 $2,150,000 22.7%

102%

61.33%

Number of Sales

69

51

47

62

88

59

AVG % of List Price Paid

85%

85.60%

89.57%

87.39%

87.36%

80.59%

Median % of List Price Paid

85.82%

87.69%

90.63%

88.11%

88.33%

81.79%

AVG Days on Market

299

235

258

209

297

345

Single Family & Townhome Worth Ave North to Wells Rd Activity (Area 2) 2017

2016

2015

2014

2013

2012

1 YR

5 YR

10 YR

AVG Price per SQFT

$1,005

$932

$905

$841

$616

$606

7.83%

63.15%

25.16%

Median Price per SQFT

$971

$960

$880

$788

$579

$570

1.15%

67.70%

19.43%

AVG Sale Price

$4,598,078 $3,871,049 $3,881,497 $4,504,551 $2,641,695 $2,630,306 18.78%

74.06%

20.45%

Median Sale Price

$3,352,000 $3,500,000 $3,837,500 $2,937,500 $2,025,000 $2,300,000 -4.23%

65.53%

3.14%

Number of Sales

28

33

44

50

47

36

AVG % of List Price Paid

88.01%

85.95%

87.70%

87.60%

80.51%

79.75%

Median % of List Price Paid

89.085%

89.41%

89.435%

90.48%

83.64%

81.575%

AVG Days on Market

417

282

255

241

453

406

Single Family & Townhome South of Worth Avenue to Sloan’s Curve Activity (Area 3) 2017

2016

2015

2014

2013

2012

1 YR

5 YR

10 YR

AVG Price per SQFT

$1,275

$1,167

$1,051

$1,148

$1,001

$915

9.25%

27.37%

20.17%

Median Price per SQFT

$1,206

$1,053

$933

$1,067

$878

$836

14.53%

37.36%

6.16%

AVG Sale Price

$13,037,434 $10,182,805 $8,544,905

$11,586,048

$10,582,171 $7,305,319 28.03%

23.20%

43.43%

Median Sale Price

$10,600,000 $8,750,000 $6,500,000

$7,862,500 $8,062,500 $5,759,375 21.14%

31.47%

37.89%

Number of Sales

19

17

15

24

24

18

AVG % of List Price Paid

77.62%

79.18%

85.22%

86.03%

80.05%

81.94%

Median % of List Price Paid

81.73%

80.80%

87.74%

85.21%

82.05%

82.60%

AVG Days on Market

496

404

506

256

448

423

Complete data analysis done using the Palm Beach Board MLS. Search date 04/05/2018 for all sold transactions recorded in sections: 01 (Wells Rd & North), 02 (Worth Ave North to Wells Rd), & 03 (South of Worth Ave to Sloans Curve).

THE POHRER PORTFOLIO

Winter Haven Farm - $15,500,000

Clarke Ave - $12,950,000

Clarke Ave - $12,500,000

Esplanade Way - $5,850,000

Old Palm Golf Club - $7,900,000

Brazilian Ave - $6,895,000

ADMIRAL’S COVE - $5,495,000

Seaspray Ave - $4,950,000

Orange Grove Rd - $2,700,000

Full Property Deatils at

ThePohrerGroup.com Contact us today for a private and no obligation review of your propety’s value.

GARY POHRER

Gary Pohrer ranked #1 for sales volume in 2017 for all of Palm Beach & Jupiter at Douglas Ellliman.

Director of Luxury Sales M: 561.262.0856 gary.pohrer@elliman.com thepohrergroup.com 1111 LINCOLN RD, MIAMI BEACH, FL 33139. 305.695.6300 © 2018 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.