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Palm Beach4th QUARtER REsidEntiAl MARkEt REpoRt
2016
Sources: Palm Beach Board of Realtors’ Multiple Listing Service, Palm Beach County Property AppraiserPrepared by: Gregory Heym, Chief Economist, Brown Harris Stevens
Cover Property BrownHarrisStevens.com WEB# 2000064270BrownHarrisStevens.com
BrownHarrisStevens.com WEB# 2000062507
Fourth Quarter 2016 Highlights
A decline in luxury sales brought the average
single-family price sharply lower in
Palm Beach
Overall, there were 18% fewer single-fam-
ily sales than 2015’s fourth quarter.
The average apartment price rose 4% over the
past year to $875,108.
There were 58 apartment sales in the fourth quarter, a 28% drop from a year ago.
Brown Harris Stevens 34tH QUARtER 2016 PAlm BEACH RESidEntiAl mARkEt REPoRt Brown Harris Stevens 3
Single-Family Homes
BrownHarrisStevens.com
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
2Q16 3Q16 4Q164Q15 1Q16
average & median SaleS Price
Average Sale Price Median Sale Price
60
50
40
30
20
10
04Q15 1Q16 2Q16 3Q16 4Q16
numBer of SaleS daYS on market
250
200
150
100
50
0
An 80% decline in sales
over $10 million helped bring the
average price 39% lower than a
year ago, to $3,988,957.
Despite a decline in the number of
closings, homes did sell 15%
faster than the fourth quarter of
2015.
4Q15 1Q16 2Q16 3Q16 4Q16
4tH QUARtER 2016 PAlm BEACH RESidEntiAl mARkEt REPoRt Brown Harris Stevens 4
Condos and Co-ops
BrownHarrisStevens.com WEB# 2000061492
$1,000,000
$800,000
$600,000
$400,000
$200,000
$02Q16 3Q16 4Q164Q15 1Q16
average & median SaleS Price
Average Sale Price Median Sale Price
180
160
120
80
40
04Q15 1Q16 2Q16 3Q16 4Q16
numBer of SaleS daYS on market
4Q15 1Q16 2Q16 3Q16 4Q16
250
200
150
100
50
0
The median apartment price rose
13% over the past year to
$482,500.
Apartments sold in the fourth quarter
spent an average of 193 days on the
market, 10% more time than a
year ago.
of Palm Beach
Palm Beach(561) 659-6400
New York citY (212) 906-9200
the hamPtoNs(631) 324-6400
miami(305) 726-0100
Ava Van de Water, Executive Vice President/Broker
353 Worth AvenuePalm Beach, Florida 33480Tel: 561-659-6400
340 Royal Poinciana Way Suite 329Palm Beach, Florida 33480Tel: 561-659-6400
223 Sunset Avenue, Suite 100Palm Beach, FL 33480Tel: 561-899-2400
619 Lake AvenuePalm Beach, FL 33460Tel: 561-582-2200
