Palm Beach Market UpdateThird Quarter 2014

PALM BEACH BROKERAGE340 Royal Poinciana WayPalm Beach, FL 33480+1.561.6593555BROKER MANAGER: Carol Hickman sothebyshomes.com

Palm Beach, FL | web: 0076451

SIGNIFICANT SALES | Q3 2014

A MESSAGE FROM OUR MANAGER: Carol HickmanAccording 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.

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

STUNNING CLARKE AVENUEWeb ID: 0076410 | Listed $15,000,000

PHIPPS ESTATEWeb ID: 0076242 | Listed $9,495,000

ENCHANTING OCEANFRONT ESTATEWeb 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

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NEW YORK OCTOBER / NOVEMBER18 Kentshire: A Legendary Collection22 Important English and European Decorative Arts23 Important Silver, Vertu & Russian Works of Art29 Property from the Estate of Rochelle Sepenuk, Part II29 19th Century Furniture and Decorative Art30 Printsnov. 4 Impressionist & Modern Art Evening Sale5 Impressionist & Modern Art Day Sale6 19th Century European Art10 Property from the Collection of Mrs. Paul Mellon:

Masterworks11 In Pursuit of Beauty: The Myron Kunin Collection of

African Art11 Contemporary Art Evening Auction12 Contemporary Art Day Auction20 American Art20-21 Property from the Collection of Mrs. Paul Mellon: Jewels

& Objects of Vertu21-23 Property from the Collection of Mrs. Paul Mellon: Interiors25 Mexico Contemporary25-26 Latin American Art Modern & Contemporary

LONDON OCTOBER / NOVEMBER17 The Italian Sale17 Contemporary Art Evening Auction18 Contemporary Art Day Auction22 Finest and Rarest Wines28 Collections29 Old Mastersnov. 4 Travel, Atlases, Maps and Natural History5 Fine Chinese Ceramics and Works of Art6 Arts of Europe12 20th Century Art – A Different Perspective12 Czech Avant-Garde Art from the Roy and Mary Cullen

Collection18 Modern & Post-War British Art19 Finest and Rarest Wines20 Music, Continental and Russian Books and Manuscripts24 Contemporary East24 Important Russian Art25 Russian Art Day Sale25 Russian Works of Art, Fabergé and Icons

PARIS OCTOBER / NOVEMBER23 Regards sur l’Orient – Tableaux et Sculptures –

Orientalistes et Art Islamiquenov. 5 Classique / Moderne : Arts Décoratifs du XVIe au XIXe

siècle5 L’œil d’un collectionneur Important Mobilier, Objets d’Art

et Tableaux du XVIIIe sièclee6 Bibliothèque Carlo de Poortere 14 Photographies 15 Man Ray25 Arts Décoratifs du XXe siècle & Design

GENEVA NOVEMBER11 Important Watches12 Magnificent Jewels and Noble Jewels

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

and view the worldwide auction schedule at sothebys.com.

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

IMPORTANT WATCHESGENEVA NOV. 11TH, 2014

sothebyshomes.com/palmbeach

SALES SINGLE FAMILY HOME

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

PALM BEACH

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

WEST PALM BEACH

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

MANALAPAN

SALESCONDOMINIUM

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

PALM BEACH - IN TOWN

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

PALM BEACH - SOUTH END

*Days On Market

ACTIVELISTINGS

NUMBERSOLD

SOLDVOLUME

AVG. SALEPRICE

MEDIAN SALESPRICE 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

WEST PALM BEACH

SOPHISTICATED REGENCY ESTATEEstate Section, Palm BeachWeb ID: 0076347 | $10,900,000

CLARKE AVENUE CHARMIn-Town, Palm BeachWeb ID: 0075947 | $7,495,000

BEAUTIFUL BRITISH WEST INDIESNorthend, Palm BeachWeb ID: 0076381 | $6,250,000

FEATURED LISTINGS

THE VILLASIn-Town, Palm Beach

Web ID: 0076419 | $4,500,000

TRUMP PLAZAWest Palm Beach

Web ID: 0076317 | $1,560,000

WATERVIEW TOWERSWest Palm Beach

Web ID: 0076458 | $1,500,000

FEATURED LISTINGS

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

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ON THE MARKET