2016 Third-Quarter Report

2016Third quarter Market Report

Southern Palm Beach County • Northern Broward County

A rtfully uniting extraordinary homes with extraordinary lives.

We are pleased to present the 2016 Nestler Poletto Sotheby’s International Realty 3rd Quarter Market Report, which offers
an overview of the Mid to South Palm Beach and Northern Broward counties residential real estate market closed activity
from January 1st to September 30th 2016 in comparison to the same period of 2015. This report focuses on all single-
family and condominium sales valued over $500,000 for that nine-month period. It includes the number of units sold,
average sold price, and number of days on the market for 15 separate markets. In addition, we also showcase some exciting
new construction projects and the Significant Sales in the market.
The South Palm Beach County 3rd quarter comparisons for single-family homes sold (number of units sold) stayed
virtually the same, dropping only 1 percentage point. However, the average sales price (value of units sold) increased 8%
over the previous year. Days on the market stayed level dropping 1% to 112 days. In the sale of Palm Beach County luxury
condominiums, we saw a slight drop in units sold of 3%, and saw a dramatic drop of 15% in the value of condos sold. The
number of days it took to sell these condos also dropped by 14%, which points to the fact they are selling quicker.
In North Broward County, the total number of single-family home sales increased by a healthy 8%. The average price of
homes sold decreased 3% while at the same time seeing a dramatic 31% increase in the time it took to sell. The Northern
Broward number of condominium sales was the bright spot in all sales categories rising substantially by 18% in condos
sold, with the average price per unit also increasing by 20%. Days on the market to sell also dropped 5%, pointing all
indicators in the positive direction. If you’re a seller, this was very good news.
In downtown Boca Raton, pre-sales of the new Mandarin Oriental residences has begun with square footage prices
starting at $1,150 to over $1,800 with starting prices of $1.880m to over $6.5m. The new 111 First Delray condominium
community in downtown Delray Beach is near its pre-sale goal of 40% in sales as demand is strong for this contemporary
offering as the developer looks at breaking ground sooner than anticipated. The completed townhouse community of
Estancia, just north of east Delray Beach, has 15 of the 30 units sold in under 6 months. Units here are available for
immediate occupancy and models and units can be seen by visiting the on-site sales office. In downtown Boca Raton, the
new Hyatt Hotel is almost completed, while the New Mizner on the Green, now called Mizner 200, is still waiting for city
approval as a nine-story ultra-contemporary condominium. The rental community of Palmetto Park Promenade is nearing
completion with 1-bedroom annual leases beginning at $2,044, 2 bedrooms at $2,704 and 3 bedrooms starting at $4,384.
As we begin the 4th quarter, the inventory of new builder product available is the highest since 2008, so we are anticipating
a strong ending quarter.
This page: Builder spec home in Boca Grove Plantation, Boca Raton • Offered at $2,600,000
Front Cover: Presidential Place Penthouse 6, Boca Raton • Offered at $5,800,000

New Construction

111 First Delray, Delray Beach

Pre-construction pricing is now offered for 70
residences on 5 floors in the heart of downtown
Delray Beach, ranging from 705 sq. ft. to 1,614 sq.
ft. with floorplans starting at 1 bedroom, 1 bath.
Pricing from the upper $400s to $1,000,000+.

Estancia, Boynton Beach

Luxury Intracoastal Waterway three-floor townhomes in Boynton
Beach with deeded deepwater boat slips with direct ocean access.
3 floor plans available, each with 3 bedrooms, 3 1/2 baths, living
room and dining room. Immediate availability. Limited number of
boat slips available.

Southern palm beach county

Presidential Place Lower Penthouse 3, Boca Raton Offered at $4,699,000

Single Family Homes Condos
Q1-Q3 2016 Q1-Q3 2015 % Change
Q1-Q3 2016 Q1-Q3 2015 % Change

Boca Raton

Units Sold 755 745 1% 172 187 -8%
1,144,150 1,017,869 12%
Avg Sold Price 1,208,774 1,115,255 8% -9%
98 108
Days On Market 112 114 -2%

Boynton Beach

Units Sold 168 203 -17% 5 8 -38%

Avg Sold Price 666,094 693,078 -4% 697,000 692,363 1%

Days On Market 80 87 -8% 67 42 60%



Delray Beach

Units Sold 323 350 -8% 69 61 13%

Avg Sold Price 1,419,218 1,276,053 11% 742,500 723,915 3%

Days On Market 115 118 -3% 73 80 -9%



Gulf Stream

Units Sold 12 17 -29% 8 11 -27%

Avg Sold Price 3,728,500 3,423,529 9% 1,979,188 1,920,909 3%

Days On Market 169 132 28% 180 148 22%



Highland Beach

Units Sold 15 3 400% 73 68 7%

Avg Sold Price 5,295,067 3,291,667 61% 832,242 911,075 -9%

Days On Market 203 132 54% 114 124 -8%

The Sanctuary, Boca Raton Offered at $2,600,000

Single Family Homes Condos
Q1-Q3 2016 Q1-Q3 2015 % Change
Q1-Q3 2016 Q1-Q3 2015 % Change
0 0 N/A
Lake Worth 0 0 N/A
0 0 N/A
Units Sold 77 66 17%

Avg Sold Price 679,059 634,612 7%

Days On Market 95 89 7%

Manalapan

Units Sold 5 16 -69% 2 1 100%

Avg Sold Price 7,678,000 8,550,462 -10% 522,500 500,000 5%

Days On Market 196 194 1% 109 374 -71%

Ocean Ridge

Units Sold 19 29 -34% 4 9 -56%

Avg Sold Price 2,235,842 1,389,325 61% 1,053,125 868,556 21%

Days On Market 105 134 -22% 43 283 -85%

Wellington

Units Sold 255 222 15% 3 2 50%

Avg Sold Price 1,497,113 1,272,642 18% 691,667 600,000 15%

Days On Market 127 125 2% 137 356 -62%

NOTE: Numbers based on homes listed at $500,000 or above, comparing the periods 1/1/2015 - 6/30/2015 and 1/1/2016 - 6/30/2016. This representation is based
in whole or in part on information supplied by the Realtor’s Association of South Palm Beach County or its Multiple Listing Service. Neither the Association or its MLS
guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.

Northern broward county

1200 The Ocean Hillsboro Mile, Hillsboro Beach Offered at $2,490,000

Single Family Homes Condos
Q1-Q3 2016 Q1-Q3 2015 % Change
Q1-Q3 2016 Q1-Q3 2015 % Change
0 0 N/A
Coral Springs 0 0 N/A
0 0 N/A
Units Sold 97 73 33%

Avg Sold Price 603,338 635,888 -5%

Days On Market 78 83 -6%

Deerfield Beach

Units Sold 47 32 47% 13 11 18%

Avg Sold Price 793,966 959,908 -17% 691,744 548,955 26%

Days On Market 82 116 -29% 80 96 -17%

Hillsboro Beach

Units Sold 3 2 50% 22 18 22%

Avg Sold Price 5,585,000 3,457,500 62% 898,345 745,333 21%

Days On Market 136 219 -38% 102 110 -7%

Lake Placid, Lighthouse Point Offered at $5,750,000

Single Family Homes Condos

Q1-Q3 2016 Q1-Q3 2015 % Change Q1-Q3 2016 Q1-Q3 2015 % Change

Lighthouse Point

Units Sold 91 110 -17% 0 0 N/A

Avg Sold Price 1,105,065 1,173,574 -6% 0 0 N/A

Days On Market 118 101 17% 0 0 N/A

Parkland

Units Sold 330 294 12% 0 0 N/A

Avg Sold Price 763,631 729,500 5% 0 0 N/A

Days On Market 80 85 -6% 0 0 N/A

Pompano Beach 87 98 -11% 43 37 16%
Units Sold 847,322 767,256 10% 775,017 658,465 18%
Avg Sold Price 33% -1%
Days On Market 118 89 108 109

NOTE: Numbers based on homes listed at $500,000 or above, comparing the periods 1/1/2015 - 6/30/2015 and 1/1/2016 - 6/30/2016. This representation is based
in whole or in part on information supplied by the Realtor’s Association of South Palm Beach County or its Multiple Listing Service. Neither the Association or its MLS
guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.

Signific ant Sales

TOP MARKET SALES October 1, 2015 - September 30, 2016
From Manalapan to Hillsboro Mile

Address Selling Price A/C Sq. Ft.
921 South Ocean Boulevard, Delray Beach $34,000,000 21,024
1400 South Ocean Boulevard, Manalapan $28,200,000 16,609
502 North Ocean Boulevard, Delray Beach $26,357,000 12,828
13180 Southfields Road, Wellington $20,000,000 4,500
3346 Grand Prix Farms Drive, Wellington $17,450,000 18,800
3901 South Ocean Boulevard, Highland Beach $16,530,000 15,638
1275 North Ocean Boulevard, Gulf Stream $15,875,000 8,915
711 South Ocean Boulevard, Delray Beach $13,958,374 12,020
6125 North Ocean Boulevard, Ocean Ridge $13,635,000 10,199
700 Osprey Point Circle, Boca Raton $13,000,000 15,856

NOTE: This representation is based in whole or in part on information supplied by the Realtor’s Association of South Palm Beach
County or its Multiple Listing Service. Neither the Association or its MLS guarantees or is in any way responsible for its accuracy.
Data maintained by the Association or its MLS may not reflect all real estate activity in the market.

200 East Palmetto Park Road, Suite 104 npsir.com 900 East Atlantic Avenue, Suite 18
Boca Raton, Florida 33432 Delray Beach, Florida 33483
561-997-7227 Each Office Is Independently Owned And Operated 561-381-9090