Micro Market Report Los Angeles & Miami Issue Number eight - October 2015
1
Table of Contents WEA MEssage
3
zip Code 90210 - Beverly Hills
4
zip Code 90211 - beverly hills
5
zip Code 90069 - Sunset strip
6
zip Code 90077 - Bel Air
7
zip Code 90046 - West Hollywood
8
zip Code 90265 - malibu
9
zip Code 90272 - Pacific palisades
10
zip Code 90024 - westwood
11
zip Code 90049 - brentwood
12
zip Code 90025 - west LA
13
zip Code 90201/90402 - santa monica
14
Zip COde 90005 - Hancock Park
15
Zip Code 90027 - Los Feliz
16
Zip Code 90064 - Cheviot Hills
17
zip Code 90291 - Venice
18
Zip Code 90292 - Marina del Rey
19
Miami Market Overview
20
ALL ZIP CODES YEAR TO DATE SALES
21
About WEA
22
Data provided by First American Title Co. Through L.A. County records for sales exceeding $1 million. MLS data for Miami- Dade County closed sales of single family homes and condominiums that were listed above $1M
2
Compare Los Angeles Real Estate Brokerages
A Message From WEA The New Intuitive WEA Website At WEA, we have always led our industry in the adoption and application of technology. We were first to implement a fully integrated network computing system, scanning technology, cloud technology, e-signatures and paperless filing, among other innovations to help better serve clients and our agents. We continue to ask ourselves: Can the technologies we use and how we use them help our clients buy and sell luxury real estate? With this mindset we approached the design of the new WEA website. We explored and enlisted some of the best and brightest in technology, graphic design and content. Rather than use a template website design, we took the time to evaluate website and technology use across a broad range of industries including entertainment, media, luxury brands and retail. Designing the new WEA website, we paid attention to each and every finite detail. This was done with WEA’s direction and direct involvement every step of the way. While most websites stuff pages with copy and endless scrolling to appease Google search engines, we looked at it the way Apple might and aimed to create a clean, simple and intuitive website experience with the end user in mind. We leveraged analytics and data to learn what technologies our customers and prospective customers use as we made design decisions. More than 90% of WEA site visitors use Apple devices, with Chrome and Safari the top browsers. Our website content efforts are focused on the singular goal of helping our clients make decisions about luxury real estate. As you visit our agent pages, you’ll get a sense of who they are as people and how they sell real estate. We trust that our clients will have confidence that WEA’s agents are experienced and capable. Stephen Shapiro Co-Founder, Westside Estate Agency 3
90210 Avg. Price Per Transaction
October 2015
Price in millions
6
Number of Sales
HHHHHHHHHHHH HHHHHHHHHH
5 4 3
Avg. Price per transaction
2
$
1 0
Oct.
2007
2010
2014
2015
5,160,545
October 2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
3,457,000
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+340% Sales
+49% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
22
-8%
$5,160,545
+8%
Oct. 2014
24
+60%
$4,791,875
+21%
Oct. 2010
15
+200%
$3,971,067
+15%
Oct. 2007
5
baseline
$3,457,000
baseline
YTD 2015
255
+26%
$6,215,818
+19%
Date
© Westside Estate Agency
4
90211 Avg. Price Per Transaction
October 2015
Price in millions
2.0
Number of Sales
HHH
1.5
Avg. Price per transaction $
1,866,333
1.0
0.5
0.0
Oct.
2007
2010
2014
2015
October 2007 Number of sales
number of sales
Avg. Price per transaction
Not Avail. October 2015 vs 2007
Oct. 2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
3
+50%
$1,866,333
+6%
Oct. 2014
2
+100%
$1,762,500
+14%
Oct. 2010
1
0%
$1,550,000
0%
Oct. 2007
0
baseline
0
baseline
YTD 2015
37
+42%
$2,134,878
+22%
Date
© Westside Estate Agency
5
90069 Avg. Price Per Transaction
October 2015
Price in millions
3.5
Number of Sales
3.0
HHHHHHHHHHHH
2.5 2.0 1.5
Avg. Price per transaction
1.0
$
0.5
2,909,993
0.0
Oct.
2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
2,404,375
October 2015 vs 2007 Oct. 2007
2010
2014
2015
+200% Sales
+21% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
12
0%
$2,909,993
-11%
Oct. 2014
12
+200%
$3,272,875
+92%
Oct. 2010
4
0%
$1,701,500
-29%
Oct. 2007
4
baseline
$2,404,375
baseline
YTD 2015
135
+31%
$3,660,590
+1%
Date
© Westside Estate Agency
6
90077 Avg. Price Per Transaction
October 2015
Price in millions
8
Number of Sales
7
HHHHHHHHHHHH
6 5 4
Avg. Price per transaction
3
$
2 1 0
2,958,475
October 2007
Oct. 2007
2010
2014
2015
Number of Sales
number of sales
HHH Avg. Price per transaction $
6,591,667
October 2015 vs 2007 Oct. 2007
2010
2014
2015
+300% Sales
-55% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
12
+200%
$2,958,475
-33%
Oct. 2014
4
+300%
$4,431,875
+181%
Oct. 2010
1
-67%
$1,575,000
-76%
Oct. 2007
3
baseline
$6,591,667
baseline
YTD 2015
114
+54%
$5,746,033
-10%
Date
© Westside Estate Agency
7
90046 Avg. Price Per Transaction
October 2015
Price in millions
2.0
Number of Sales
HHHHHHHHHHHH HHHHHHHHHHHH
1.5
1.0
Avg. Price per transaction $
0.5
0.0
1,901,851
October 2007
Oct. 2007
2010
2014
2015
number of sales
Number of Sales
HHHHHHHHH Avg. Price per transaction $
1,009,444
October 2015 vs 2007 Oct. 2007
2010
2014
2015
+167% Sales
+88% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
24
-33%
$1,901,851
0%
Oct. 2014
36
+300%
$1,910,278
+107%
Oct. 2010
9
0%
$924,222
-8%
Oct. 2007
9
baseline
$1,009,444
baseline
YTD 2015
280
+28%
$1,783,650
+2%
Date
© Westside Estate Agency
8
90265 Avg. Price Per Transaction
October 2015
Price in millions
10
Number of Sales
HHHHHHHHHHHH HHHHHHHHH
8 6
Avg. Price per transaction
4
$ 2 0
4,738,452
October 2007
Oct. 2007
2010
2014
2015
number of sales
Number of Sales
HHHHHHHHH Avg. Price per transaction $
3,613,333
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+133% Sales
+31% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
21
+24%
$4,738,452
+16%
Oct. 2014
17
+113%
$4,090,359
-59%
Oct. 2010
8
-11%
$9,927,375
+175%
Oct. 2007
9
baseline
$3,613,333
baseline
YTD 2015
193
+32%
$4,692,115
+18%
Date
© Westside Estate Agency
9
90272 Avg. Price Per Transaction
October 2015
4.0
Number of Sales
Price in millions
3.5
HHHHHHHHHHHH HHHHH
3.0 2.5 2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
Oct. 2007
2010
2014
2015
3,850,735
October 2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
3,900,000
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+467% Sales
-1% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
17
-23%
$3,850,735
+45%
Oct. 2014
22
+120%
$2,646,705
-16%
Oct. 2010
10
+233%
$3,157,950
-19%
Oct. 2007
3
baseline
$3,900,000
baseline
YTD 2015
241
+1%
$3,616,443
+8%
Date
© Westside Estate Agency
10
90024 Avg. Price Per Transaction
October 2015
Price in millions
3.0
Number of Sales
2.5
HHHHHHH
2.0
Avg. Price per transaction $
1.5 1.0
2,422,071
0.5 0.0
Oct.
2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HH Avg. Price per transaction $
1,590,000
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+250% Sales
+52% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
7
0%
$2,422,071
-11%
Oct. 2014
7
+133%
$2,721,214
+15%
Oct. 2010
3
+50%
$2,374,167
+49%
Oct. 2007
2
baseline
$1,590,000
baseline
YTD 2015
67
-7%
$2,672,866
-42%
Date
© Westside Estate Agency
11
90049 Avg. Price Per Transaction
October 2015
Price in millions
6
Number of Sales
HHHHHHHHHHHH HHHHHHHHHHHH HHHHH
5 4 3
Avg. Price per transaction
2
$
1 0
Oct.
2007
2010
2014
2015
5,163,431
October 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
5,799,125
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+625% Sales
-11% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
29
+45%
$5,163,431
+41%
Oct. 2014
20
+186%
$3,650,956
+44%
Oct. 2010
7
+75%
$2,535,964
-56%
Oct. 2007
4
baseline
$5,799,125
baseline
YTD 2015
252
+38%
$4,785,307
+17%
Date
© Westside Estate Agency
12
90025 Avg. Price Per Transaction
October 2015
Price in millions
1.5
Number of Sales
HHHHHH
1.2
Avg. Price per transaction
0.9
$ 0.6
1,378,417
0.3 0.0
Oct.
2007
2010
2014
2015
October 2007 Number of Sales
number of sales
Avg. Price per transaction
Not Avail. October 2015 vs 2007 Oct.
2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
6
+20%
$1,378,417
-2%
Oct. 2014
5
+400%
$1,401,200
+166%
Oct. 2010
1
0%
$527,500
0%
Oct. 2007
0
baseline
0
baseline
YTD 2015
69
+82%
$1,352,544
+2%
Date
© Westside Estate Agency
13
90402 Avg. Price Per Transaction
October 2015
Price in millions
5
Number of Sales
HHHHHHHHHH
4
Avg. Price per transaction
3
$
2
3,957,200
1 0
Oct. 2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
4,015,333
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+233% Sales
-1% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
10
-17%
$3,957,200
+3%
Oct. 2014
12
+300%
$3,852,888
+20%
Oct. 2010
3
0%
$3,208,333
-20%
Oct. 2007
3
baseline
$4,015,333
baseline
YTD 2015
82
+17%
$4,019,933
+3%
Date
© Westside Estate Agency
14
90005 Avg. Price Per Transaction
October 2015
Price in millions
3.0
Number of Sales
2.5
HHHH
2.0
Avg. Price per transaction $
1.5 1.0
1,022,500
0.5 0.0
Oct. 2007
2010
2014
2015
October 2007 Number of sales
number of sales
HH Avg. Price per transaction $
2,684,500
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+100% Sales
-62% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
4
0%
$1,022,500
0%
Oct. 2014
0
-100%
0
-100%
Oct. 2010
3
+50%
$622,000
-77%
Oct. 2007
2
baseline
$2,684,500
baseline
YTD 2015
41
+86%
$2,150,171
+39%
Date
© Westside Estate Agency
15
90027 Avg. Price Per Transaction
October 2015
Price in millions
2.0
Number of Sales
HHHHHHHHHHHH H
1.5
1.0
Avg. Price per transaction $
0.5
1,744,615
0.0
Oct. 2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HHHHHHH Avg. Price per transaction $
1,273,429
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+86% Sales
+37% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
13
+44%
$1,744,615
+9%
Oct. 2014
9
+350%
$1,596,111
+34%
Oct. 2010
2
-71%
$1,195,000
-6%
Oct. 2007
7
baseline
$1,273,429
baseline
YTD 2015
167
+50%
$1,589,668
-3%
Date
© Westside Estate Agency
16
90064 Avg. Price Per Transaction
October 2015
Price in millions
1.5
Number of Sales
HHHHHHHHHHHH H
1.2 0.9
Avg. Price per transaction $
0.6
1,405,168
0.3 0.0
Oct. 2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HHHHHHHHHHH Avg. Price per transaction $
1,428,500
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+18% Sales
-2% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
13
-19%
$1,405,168
+20%
Oct. 2014
16
+129%
$1,166,124
+22%
Oct. 2010
7
-36%
$954,786
-33%
Oct. 2007
11
baseline
$1,428,500
baseline
YTD 2015
162
+8%
$1,505,279
+9%
Date
© Westside Estate Agency
17
90291 Avg. Price Per Transaction
October 2015
Price in millions
3.0
Number of Sales
2.5
HHHHHHHHHHHH HHHHHHHHH
2.0 1.5
Avg. Price per transaction
1.0
$
0.5
2,663,469
0.0
Oct. 2007
2010
2014
2015
October 2007 Number of Sales
number of sales
H Avg. Price per transaction $
1,500,000
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+2000% Sales
+78% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
21
+31%
$2,663,469
+49%
Oct. 2014
16
+78%
$1,788,719
+67%
Oct. 2010
9
+800%
$1,073,833
-28%
Oct. 2007
1
baseline
$1,500,000
baseline
YTD 2015
161
+18%
$2,022,602
+13%
Date
© Westside Estate Agency
18
90292 Avg. Price Per Transaction
October 2015
Price in millions
2.5
Number of Sales
HHHHH
2.0
Avg. Price per transaction
1.5
$ 1.0
2,131,500
0.5 0.0
Oct.
2007
2010
2014
2015
October 2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
1,610,833
October 2015 vs 2007 Oct.
2007
2010
2014
2015
+67% Sales
+32% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
5
+67%
$2,131,500
+142%
Oct. 2014
3
0%
$879,333
0%s
Oct. 2010
0
-100%
0
-100%
Oct. 2007
3
baseline
$1,610,833
baseline
YTD 2015
33
+18%
$2,283,061
+20%
Date
© Westside Estate Agency
19
Miami market view
metro Miami overview avg. Price Per Transaction
Price in millions
2.5
Number of Sales
HHHHHHHH
2.0
AVg. Price per transaction
1.5
$ 1.0 0.5
$2,352,673 H =20
October 2007
0.0
Oct.
H =20
October 2015
Number of Sales 2007
2010
2014
2015
HHHH
number of sales avg. Price per transaction $
2,065,217
October 2015 vs 2007 +14% Price
2015
+101% Sales
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Oct. 2015
149
-20%
$2,352,673
+13%
Oct. 2014
187
+167%
$2,080,835
+33%
Oct. 2010
70
-5%
$1,566,305
-24%
Oct. 2007
74
baseline
$2,065,217
baseline
YTD 2015
1796
-5%
$2,310,793
+4%
Oct.
2007
Date
2010
2014
© Westside Estate Agency
20
YEAR TO DATE SALES OF PROPERTIES OF $1M OR MORE 2007
2010
2014
2015
Zip Code
Sales
Average Price
Sales
Δ vs ‘07
Average Price
Δ vs ‘07
Sales
Δ vs ‘10
Average Price
Δ vs ‘10
Sales
Δ vs ‘14
Average Price
Δ vs ‘14
90210
79
$5,064,178
102
29%
$4,693,011
-7%
203
99%
$5,241,687
12%
255
26%
$6,215,818
19%
90211
9
$1,674,002
16
78%
$1,516,188
-9%
26
63%
$1,750,212
15%
37
42%
$2,134,878
22%
90069
47
$2,520,606
42
-11%
$2,081,357
-17%
103
145%
$3,608,233
73%
135
31%
$3,660,590
1%
90077
38
$3,833,055
45
18%
$2,108,889
-45%
74
64%
$6,409,135
204%
114
54%
$5,746,033
-10%
90046
71
$1,661,549
85
20%
$985,082
-41%
218
156%
$1,746,040
77%
280
28%
$1,783,650
2%
90265
68
$5,043,757
71
4%
$4,589,451
-9%
146
106%
$3,981,373
-13%
193
32%
$4,692,115
18%
90272
83
$3,104,958
115
39%
$2,442,500
-21%
238
107%
$3,335,177
37%
241
1%
$3,616,443
8%
90024
22
$2,000,500
29
32%
$1,975,172
-1%
72
148%
$4,597,628
133%
67
-7%
$2,672,866
-42%
90049
78
$3,233,853
113
45%
$2,239,290
-31%
183
62%
$3,236,160
45%
252
38%
$3,785,307
17%
90025
16
$1,040,063
26
63%
$975,327
-6%
38
46%
$1,324,658
36%
69
82%
$1,352,544
2%
90402
25
$3,312,520
47
88%
$2,616,330
-21%
70
49%
$3,919,331
50%
82
17%
$4,019,933
3%
90005
8
$1,751,125
14
75%
$760,714
-57%
22
57%
$1,547,295
103%
41
86%
$2,150,171
39%
90027
50
$1,246,173
40
-20%
$1,058,963
-15%
111
178%
$1,646,548
55%
167
50%
$1,589,668
-3%
90064
82
$1,286,075
83
1%
$1,116,331
-13%
150
81%
$1,380,442
24%
162
8%
$1,505,279
9%
90291
48
$1,300,919
70
46%
$1,025,479
-21%
137
96%
$1,797,547
75%
161
18%
$2,022,602
13%
90292
11
$1,586,591
14
27%
$1,655,429
4%
28
100%
$1,896,539
15%
33
18%
$2,283,061
20%
Miami
74
$2,065,217
70
-5%
$1,566,305
-24%
187
167%
$2,080,835
33%
149
-20%
$2,352,673
13%
21
Success built on superior market knowledge. And understanding our clients. Westside Estate Agency is defined by the values and the vision of its two founders, Stephen Shapiro and Kurt Rappaport. In 1998, Stephen Shapiro and Kurt Rappaport were two of the most well-known, highly compensated realtors in Los Angeles. Still, they felt there had to be a better way to meet the very high expectations and individual needs of their high-net worth clientele. It wasn’t long before the two began making plans for a different kind of brokerage. A real estate agency committed to putting client service first, and completely satisfying the needs and desires of each client. In the words of Stephen Shapiro, “Negotiations conducted with intelligence and integrity result in what we call the ‘triple win.’ Great results for the buyer, the seller, and WEA.” In 1999, Shapiro and Rappaport opened Westside Estate Agency with a focus on the most expensive and prestigious homes and estates in the prime Westside areas of Los Angeles. In 2007, WEA opened its Malibu office to service that world famous community. Today, WEA has a clientele without parallel, at the pinnacle of the business, financial, technology and entertainment industries generating billions in sales and the highest average price per sale in the industry. The company added its Miami, Florida location in early 2015. Working hand-in-hand with their commitment to tailored service has been the agency’s industry leading application of technology. WEA has been at the forefront in the category for its technology use, from being the first to implement a fully integrated network computing system to
the first to use scanning technology, cloud technology, e-signatures and paperless filing to provide better service to clients. WEA continues to stay on the cuttingedge of innovation, keeping a pulse on and implementing new technologies as soon as they’re available. Stephen and Kurt have assembled a team of full-time real estate pros, known for expertise, experience, integrity and discretion. Each agent possesses an in-depth knowledge of the inventory and current market conditions; our clients turn to us for candid insights into current market value, the sales potential of properties and marketing strategies for our current and prospective clients. Of course, WEA has retained its independence, in the face of widespread acquisition by a handful of impersonal agencies. Remaining independent means we answer to our clients, instead of a corporate headquarters thousands of miles away. It means we don’t need to worry about a conglomerate’s bottom-line or using an inhouse escrow or title company; rather, we’re free to focus on getting the best and doing the best for each client. In practical terms, this translates into efficiency and responsiveness. Making the most of every minute by showing just the homes, in just the neighborhoods, that meet our clients’ criteria. Quite frequently, we’re even able to offer new properties not yet on the market. Finally, it means WEA’s agents have a direct conduit to the top. Unlike the non-owner operated, robo brokerages, our principals play a role in, and keep an eye on every WEA transaction. In sense, every WEA client is also a client of Stephen’s and Kurt’s. Which only make sense, as it’s with these two that the WEA story began.
22
Contact Us Beverly Hills Office
Malibu Office
Miami Office
Westside Estate Agency 210 North Canon Drive Beverly Hills, CA 90210
Westside Estate Agency 23410 Civic Center Way Malibu, CA 90265
Westside Estate Agency 2100 Ponce de Leon Blvd 7th Floor Coral Gables, FL 33134
Tel: (310) 247-7770 SalesBH@WEAhomes.com
Tel: (310) 456-1171 SalesMalibu@WEAhomes.com
Tel: (305) 447-1471 SalesMiami@WEAhomes.com
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