MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #36 1/15/20 FOR Q4 2019 STATISTICS
1
TABLE OF CONTENTS WEA MESSAGE
3
ZIP CODE 90210 - BEVERLY HILLS
4
ZIP CODE 90211 - BEVERLY HILLS
5
ZIP CODE 90212 - BEVERLY HILLS
6
ZIP CODE 90069 - SUNSET STRIP
7
ZIP CODE 90077 - BEL AIR
8
ZIP CODE 90046 - WEST HOLLYWOOD
9
ZIP CODE 90265 - MALIBU
10
ZIP CODE 90272 - PACIFIC PALISADES
11
ZIP CODE 90024 - WESTWOOD
12
ZIP CODE 90049 - BRENTWOOD
13
ZIP CODE 90025 - WEST LA
14
ZIP CODE 90402 - SANTA MONICA
15
ZIP CODE 90005 - HANCOCK PARK
16
ZIP CODE 90027 - LOS FELIZ
17
ZIP CODE 90064 - CHEVIOT HILLS
18
ZIP CODE 90291 - VENICE
19
ZIP CODE 90292 - MARINA DEL REY
20
MIAMI MARKET OVERVIEW
21
ALL ZIP CODES YEAR TO DATE SALES
22
ABOUT WEA
24
Data provided by First American Title Co. of Los Angeles County records and by SEF MLS of Miami-Dade County records for sales exceeding $1 million.
2
Compare Los Angeles Real Estate Brokerages
A MESSAGE FROM WEA ENDING 2019 & BEGINNING A STRONG 2020 Most of us have read that the “luxury” residential real estate market was hard hit in 2019, and it was for a time. However, a funny thing happened during the last quarter of 2019. There was a run on super luxury homes, from the $20M and $30M range all the way up to $150M. What does this mean for 2020? While the lower end of our market had remained strong throughout the year, the Q4 flurry of expensive home sales means that buyers are comfortable spending the money they have earned. After standing down, buyers are now standing up and raring to go. Through osmosis, buyers in a lower price point also gain confidence to invest in real estate. Let’s ring in the new year in a big way with a market resurgence. Wishing everyone a happy and prosperous new year! Stephen Shapiro Co-Founder, Westside Estate Agency
3
90210 90210 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
467
$
MILLION
442
-5%
7.78
MILLION
MILLION
Q4 2019
Q4 2018
$
7.01
$
MILLION Q4 2019
Q4 2018
-10%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
80 70 60 50 40 30 20 10 0
8 7 6 5 4 3 2 1 0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
63
5%
$7,010,059
-10%
Q4. 2018
60
-5%
$7,788,518
7%
Q4. 2017
63
-14%
$7,258,635
0%
Q4. 2016
73
-6%
$7,232,562
33%
YTD 2019
265
-1%
$6,503,589
4%
Date
© Westside Estate Agency
4
90211 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
11.95 18.6 $
MILLION
+56%
NUMBER OF SALES • Q4
2.39
MILLION
MILLION
Q4 2019
Q4 2018
$
2.33
$
MILLION Q4 2019
Q4 2018
-3%
AVERAGE PRICE • 12 MONTH ROLLING
12
3.5
10
3.0 2.5
8
2.0
6
1.5
4
1.0
2
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
8
60%
$2,329,625
-3%
Q4. 2018
5
67%
$2,390,400
-22%
Q4. 2017
3
-73%
$3,074,667
35%
Q4. 2016
11
57%
$2,279,773
14%
YTD 2019
30
15%
$3,206,467
25%
Date
© Westside Estate Agency
5
90212 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
22.8
$
MILLION
18.6
-18%
NUMBER OF SALES • Q4
2.85
MILLION
MILLION
Q4 2019
Q4 2018
$
3.10
$
MILLION Q4 2019
Q4 2018
+9%
AVERAGE PRICE • 12 MONTH ROLLING 3.5
10
3.0
8
2.5
6
2.0 1.5
4
1.0
2
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
6
-25%
$3,104,667
9%
Q4. 2018
8
60%
$2,855,750
24%
Q4. 2017
5
-50%
$2,308,100
-27%
Q4. 2016
10
43%
$3,163,650
12%
YTD 2019
24
-38%
$2,985,271
-2%
Date
© Westside Estate Agency
6
90069 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
85.6
$
MILLION
179
+110%
NUMBER OF SALES • Q4
MILLION +27%
AVERAGE PRICE • 12 MONTH ROLLING 5
40
4
30
3
20
2
10
1
0
0 2017
4.17
$
Q4 2019
Q4 2018
50
2016
3.29
MILLION
MILLION
Q4 2019
Q4 2018
$
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
43
65%
$4,171,570
27%
Q4. 2018
26
-10%
$3,291,365
6%
Q4. 2017
29
0%
$3,107,621
16%
Q4. 2016
29
-26%
$2,680,276
-20%
YTD 2019
156
9%
$3,583,321
-8%
Date
© Westside Estate Agency
7
90077 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
121
$
MILLION
283
+133%
NUMBER OF SALES • Q4
4.37
MILLION
MILLION
Q4 2019
Q4 2018
$
7.88
$
MILLION Q4 2019
Q4 2018
+81%
AVERAGE PRICE • 12 MONTH ROLLING
40 35 30 25 20 15 10 5 0
8 7 6 5 4 3 2 1 0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
36
29%
$7,881,083
81%
Q4. 2018
28
-30%
$4,357,100
-35%
Q4. 2017
40
29%
$6,652,300
-3%
Q4. 2016
31
24%
$6,848,839
56%
YTD 2019
137
21%
$5,110,843
-13%
Date
© Westside Estate Agency
8
90046 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
134
$
MILLION
145
+8%
2.13
MILLION
MILLION
Q4 2019
Q4 2018
$
1.79
$
MILLION Q4 2019
Q4 2018
-16%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
100
2.5
80
2.0
60
1.5
40
1.0
20
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
81
29%
$1,793,827
-16%
Q4. 2018
63
-24%
$2,127,778
12%
Q4. 2017
83
32%
$1,891,982
8%
Q4. 2016
63
-16%
$1,755,303
1%
YTD 2019
295
4%
$2,262,210
4%
Date
© Westside Estate Agency
9
90265 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
166
$
MILLION
243
4.04
4.18
$
MILLION
MILLION
MILLION
Q4 2019
Q4 2018
$
Q4 2019
Q4 2018
+46%
+4%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
60
5
50
4
40
3
30
2
20 10
1
0
0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
58
41%
$4,181,078
4%
Q4. 2018
41
-7%
$4,038,679
-11%
Q4. 2017
44
-23%
$4,558,114
-2%
Q4. 2016
57
-8%
$4,661,947
2%
YTD 2019
184
-21%
$4,648,527
-10%
Date
© Westside Estate Agency
10
90272 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
233
$
MILLION
276
4.31
3.95
$
MILLION
MILLION
MILLION
Q4 2019
Q4 2018
$
Q4 2019
Q4 2018
+19%
-9%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
80 70 60 50 40 30 20 10 0
5 4 3 2 1 0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
70
30%
$3,945,021
-9%
Q4. 2018
54
-4%
$4,311,731
-1%
Q4. 2017
56
2%
$4,358,438
5%
Q4. 2016
55
0%
$4,157,236
19%
YTD 2019
244
2%
$3,998,152
-12%
Date
© Westside Estate Agency
11
90024 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
60.5
$
MILLION
73.1
+21%
3.02
MILLION
MILLION
Q4 2019
Q4 2018
$
3.65
$
MILLION Q4 2019
Q4 2018
+21%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
30
4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0
25 20 15 10 5 0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
20
0%
$3,652,600
21%
Q4. 2018
20
5%
$3,024,075
16%
Q4. 2017
19
-27%
$2,599,711
1%
Q4. 2016
26
73%
$2,585,192
-35%
YTD 2019
73
-8%
$3,294,034
-1%
Date
© Westside Estate Agency
12
90049 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
341
$
MILLION
295
4.67
4.15
$
MILLION
MILLION
MILLION
Q4 2019
Q4 2018
$
Q4 2019
Q4 2018
-13%
-11%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
80 70 60 50 40 30 20 10 0
5 4 3 2 1 0 2016
2018
2017
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
71
-3%
$4,151,223
-11%
Q4. 2018
73
3%
$4,666,658
15%
Q4. 2017
71
9%
$4,057,732
-11%
Q4. 2016
65
-2%
$4,543,308
-14%
YTD 2019
300
-1%
$4,740,698
4%
Date
© Westside Estate Agency
13
90025 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
39.9
$
MILLION
26.3 -34%
2.10
MILLION
MILLION
Q4 2019
Q4 2018
$
1.64
$
MILLION Q4 2019
Q4 2018
-22%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
20
2.5 2.0
15
1.5 10 1.0 5
0.5 0.0
0 2016
2018
2017
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
16
-16%
$1,644,688
-22%
Q4. 2018
19
12%
$2,098,816
31%
Q4. 2017
17
31%
$1,606,578
6%
Q4. 2016
13
-32%
$1,512,615
9%
YTD 2019
69
0%
$1,915,913
-26%
Date
© Westside Estate Agency
14
90402 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
110
$
MILLION
141
4.99
4.71
$
MILLION
MILLION
MILLION
Q4 2019
Q4 2018
$
Q4 2019
Q4 2018
+28%
-6%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
35
6
30
5
25
4
20
3
15
2
10 5
1
0
0 2016
2018
2017
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
30
36%
$4,705,700
-6%
Q4. 2018
22
-31%
$4,999,182
9%
Q4. 2017
32
28%
$4,573,344
-11%
Q4. 2016
25
-19%
$5,136,691
23%
YTD 2019
93
2%
$5,104,043
18%
Date
© Westside Estate Agency
15
90005 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
9.93
$
MILLION
19.3
+94%
NUMBER OF SALES • Q4
1.66
MILLION
MILLION
Q4 2019
Q4 2018
$
2.41
$
MILLION Q4 2019
Q4 2018
+46%
AVERAGE PRICE • 12 MONTH ROLLING 2.5
8 7 6 5 4 3 2 1 0
2.0 1.5 1.0 0.5 0.0 2016
2018
2017
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
8
33%
$2,409,125
46%
Q4. 2018
6
0%
$1,655,250
-32%
Q4. 2017
6
-25%
$2,438,167
17%
Q4. 2016
8
-27%
$2,089,125
30%
YTD 2019
35
6%
$2,198,800
-31%
Date
© Westside Estate Agency
16
90027 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
97.5
$
MILLION
102
+5%
2.07
MILLION
MILLION
Q4 2019
Q4 2018
$
2.62
$
MILLION Q4 2019
Q4 2018
+26%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
50
3.0
40
2.5 2.0
30
1.5
20
1.0
10
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
39
-17%
$2,621,859
26%
Q4. 2018
47
7%
$2,074,131
-3%
Q4. 2017
44
10%
$2,140,505
8%
Q4. 2016
40
21%
$1,978,153
10%
YTD 2019
152
-16%
$2,389,954
8%
Date
© Westside Estate Agency
17
90064 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
95.1
$
MILLION
125
+32%
NUMBER OF SALES • Q4
2.07
MILLION
MILLION
Q4 2019
Q4 2018
$
2.32
$
MILLION Q4 2019
Q4 2018
+12%
AVERAGE PRICE • 12 MONTH ROLLING 2.5
80 70 60 50 40 30 20 10 0
2.0 1.5 1.0 0.5 0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
54
17%
$2,318,639
12%
Q4. 2018
46
-23%
$2,067,293
15%
Q4. 2017
60
-9%
$1,796,292
17%
Q4. 2016
66
57%
$1,538,120
6%
YTD 2019
230
4%
$2,236,191
-1%
Date
© Westside Estate Agency
18
90291 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
107
$
MILLION
109
+2%
2.10
MILLION
MILLION
Q4 2019
Q4 2018
$
2.43
$
MILLION Q4 2019
Q4 2018
+16%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
60
2.5
50
2.0
40
1.5
30
1.0
20 10
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
45
-12%
$2,431,433
16%
Q4. 2018
51
4%
$2,102,516
-1%
Q4. 2017
49
11%
$2,129,378
-5%
Q4. 2016
44
-2%
$2,239,170
4%
YTD 2019
181
-5%
$2,423,197
3%
Date
© Westside Estate Agency
19
90292 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
21.8
$
MILLION
21.3
-2%
2.42
MILLION
MILLION
Q4 2019
Q4 2018
$
2.37
$
MILLION Q4 2019
Q4 2018
-2%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
15
3.0
12
2.5 2.0
9
1.5
6
1.0
3
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
9
0%
$2,367,111
-2%
Q4. 2018
9
-40%
$2,417,734
-9%
Q4. 2017
15
114%
$2,654,900
8%
Q4. 2016
7
-22%
$2,449,857
-13%
YTD 2019
33
-3%
$2,347,606
-21%
Date
© Westside Estate Agency
20
METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION
SALES VOLUME
$
893
$
MILLION
1.03
+16%
2.19
MILLION
BILLION
Q4 2019
Q4 2018
$
2.26
$
MILLION Q4 2019
Q4 2018
+3%
NUMBER OF SALES • Q4
AVERAGE PRICE • 12 MONTH ROLLING
500
2.5
400
2.0
300
1.5
200
1.0
100
0.5
0
0.0 2016
2017
2018
2019
2016
2017
2018
2019
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q4. 2019
459
13%
$2,260,881
3%
Q4. 2018
407
9%
$2,196,090
-6%
Q4. 2017
373
11%
$2,342,509
7%
Q4. 2016
337
baseline
$2,197,713
baseline
YTD 2019
1903
-2%
$2,417,813
1%
Date
© Westside Estate Agency
21
YEAR TO DATE SALES 2017
2016 Zip Code
Sales
Average Price
Sales
Δ vs ‘16
Average Price
Δ vs ‘16
90210
284
$5,879,713
283
0%
$5,959,781
1%
90211
33
$2,258,015
33
0%
$2,406,364
7%
90212
40
$3,004,063
31
-23%
$2,887,406
-4%
90069
148
$3,543,298
155
5%
$3,162,136
-11%
90077
118
$5,272,123
145
23%
$5,369,807
2%
90046
293
$2,248,079
307
5%
$2,332,406
4%
90265
243
$4,452,726
230
-5%
$4,808,530
8%
90272
275
$3,922,679
279
1%
$3,854,643
-2%
90024
103
$4,650,006
83
-19%
$3,701,331
-20%
90049
286
$3,836,501
313
9%
$3,896,015
2%
90025
69
$1,625,051
72
4%
$1,940,221
19%
90402
101
$4,682,087
124
23%
$4,431,266
-5%
90005
41
$1,998,415
40
-2%
$2,530,875
27%
90027
181
$1,876,766
167
-8%
$2,887,200
54%
90064
236
$1,963,774
265
12%
$2,237,426
14%
90291
192
$2,158,050
209
9%
$3,077,407
43%
90292
35
$2,265,129
50
43%
$2,679,710
18%
Miami
1653
$2,328,907
1636
-1%
$2,318,873
0%
PROPERTIES OF $1M OR MORE 2018
2019
Sales
Δ vs ‘17
Average Price
Δ vs ‘17
Sales
Δ vs ‘18
Average Price
Δ vs ‘18
268
-5%
$6,250,345
5%
265
-1%
$6,503,589
4%
26
-21%
$2,562,962
7%
30
15%
$3,206,467
25%
39
26%
$3,034,526
5%
24
-38%
$2,985,271
-2%
143
-8%
$3,887,385
23%
156
9%
$3,583,321
-8%
113
-22%
$5,884,137
10%
137
21%
$5,110,843
-13%
285
-7%
$2,171,614
-7%
295
4%
$2,262,210
4%
234
2%
$5,142,385
7%
184
-21%
$4,648,527
-10%
240
-14%
$4,521,367
17%
244
2%
$3,998,152
-12%
79
-5%
$3,313,925
-10%
73
-8%
$3,294,034
-1%
303
-3%
$4,545,560
17%
300
-1%
$4,740,698
4%
69
-4%
$2,596,225
34%
69
0%
$1,915,913
-26%
91
-27%
$4,342,559
-2%
93
2%
$5,104,043
18%
33
-18%
$3,167,818
25%
35
6%
$2,198,800
-31%
181
8%
$2,212,865
-23%
152
-16%
$2,389,954
8%
221
-17%
$2,253,738
1%
230
4%
$2,236,191
-1%
191
-9%
$2,361,698
-23%
181
-5%
$2,423,197
3%
34
-32%
$2,972,694
11%
33
-3%
$2,347,606
-21%
1936
18%
$2,385,589
3%
1903
-2%
$2,417,813
1%
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 2015, 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 2017. 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.
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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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