MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #40 7/20/21 FOR Q2 2021 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 WHERE HAVE WE BEEN AND WHERE ARE WE GOING? What a crazy time it’s been. When COVID-19 first took hold in mid-March of 2020, we all thought that real estate sales would drop dramatically, at least until the pandemic ended. Little did we know that it would result in driving up both prices and the number of transactions. Savings increased to record levels, interest rates remained historically low, people learned to work from home and sought out alternative locations to live (and work). While we don’t know how long this trend will continue, we’ve gained a different perspective on how to work and live. As for the future, despite government inflation statistics that monitor only a few industries, we know as consumers that EVERYTHING we buy from gasoline to building materials to groceries and restaurants have dramatically increased. But what does this mean for real estate? Historically, real estate prices rise considerably higher than inflation. Add this to extremely low inventory and the outcome will likely mean an even higher cost to buy a home. The tip here is that if you find a home that you like, step up and pay for it, as it will cost more next year. Enjoy your regained freedom.
Stephen Shapiro Co-Founder, Westside Estate Agency
3
90210 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
524
$
MILLION
1.02
+95%
NUMBER OF SALES • Q2
MILLION
-41%
AVERAGE PRICE • 12 MONTH ROLLING 10
120
8
90
6
60
4
30
2
0
0 2019
8.32
$
Q2 2021
Q2 2020
150
2018
14.2
MILLION
BILLION
Q2 2021
Q2 2020
$
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
123
232%
$8,318,171
-41%
Q2 2020
37
-49%
$14,157,703
109%
Q2 2019
73
14%
$6,774,957
22%
Q2 2018
64
baseline
$5,532,984
baseline
YTD 2021
218
88%
$7,507,955
-14%
Date
© Westside Estate Agency
4
90211 90210 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
9.85
$
MILLION
67.3
+583%
NUMBER OF SALES • Q2
2.46
MILLION
MILLION
Q2 2021
Q2 2020
$
3.06
$
MILLION Q2 2021
Q2 2020
+24%
AVERAGE PRICE • 12 MONTH ROLLING 3.5
25
3.0
20
2.5
15
2.0
10
1.5 1.0
5
0.5
0
0.0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
22
450%
$3,059,318
24%
Q2 2020
4
-60%
$2,463,375
-11%
Q2 2019
10
43%
$2,782,200
-9%
Q2 2018
7
baseline
$3,049,714
baseline
YTD 2021
31
63%
$3,051,694
18%
Date
© Westside Estate Agency
5
90212 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
11.9
$
MILLION
36.4 +206%
NUMBER OF SALES • Q2
2.97
MILLION
MILLION
Q2 2021
Q2 2020
$
3.31
$
MILLION Q2 2021
Q2 2020
+11%
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 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
11
175%
$3,306,955
11%
Q2 2020
4
-20%
$2,974,750
10%
Q2 2019
5
-50%
$2,694,200
-19%
Q2 2018
10
150%
$3,308,500
12%
YTD 2021
16
60%
$3,049,781
-3%
Date
© Westside Estate Agency
6
90069 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
88.9
$
MILLION
236
165%
5.93
MILLION
MILLION
Q2 2021
Q2 2020
$
4.45
$
MILLION Q2 2021
Q2 2020
-25%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
60
8 7 6 5 4 3 2 1 0
50 40 30 20 10 0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
53
253%
$4,445,245
-25%
Q2 2020
15
-57%
$5,928,900
54%
Q2 2019
35
-20%
$3,851,486
4%
Q2 2018
44
baseline
$3,707,852
baseline
YTD 2021
103
94%
$4,725,010
-27%
Date
© Westside Estate Agency
7
90077 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
200
$
MILLION
320
+60%
NUMBER OF SALES • Q2
7.69
MILLION
MILLION
Q2 2021
Q2 2020
$
6.04
$
MILLION Q2 2021
Q2 2020
-22%
AVERAGE PRICE • 12 MONTH ROLLING
60
8 7 6 5 4 3 2 1 0
50 40 30 20 10 0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
53
104%
$6,037,274
-22%
Q2 2020
26
-42%
$7,697,827
92%
Q2 2019
45
22%
$4,014,500
-38%
Q2 2018
37
baseline
$6,449,815
baseline
YTD 2021
92
104%
$5,495,418
-28%
Date
© Westside Estate Agency
8
90046 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
98.0
$
MILLION
240
NUMBER OF SALES • Q2
2.23
MILLION
MILLION
Q2 2021 +145%
Q2 2020
$
2.27
$
MILLION Q2 2021
Q2 2020
+2%
AVERAGE PRICE • 12 MONTH ROLLING
120
2.5
100
2.0
80
1.5
60
1.0
40 20
0.5
0
0.0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
106
141%
$2,267,071
2%
Q2 2020
44
-48%
$2,227,659
13%
Q2 2019
84
1%
$1,978,476
-10%
Q2 2018
83
baseline
$2,204,114
baseline
YTD 2021
210
94%
$2,224,409
5%
Date
© Westside Estate Agency
9
90265 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
212
$
MILLION
694
+227%
5.31
MILLION
MILLION
Q2 2021
Q2 2020
$
6.74
$
MILLION Q2 2021
Q2 2020
+27%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
120
8 7 6 5 4 3 2 1 0
100 80 60 40 20 0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
103
158%
$6,740,806
27%
Q2 2020
40
-15%
$5,307,563
12%
Q2 2019
47
-35%
$4,747,223
-30%
Q2 2018
72
baseline
$6,808,514
baseline
YTD 2021
188
107%
$6,875,114
54%
Date
© Westside Estate Agency
10
90272 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
190
$
MILLION
550
4.04
4.59
$
MILLION
MILLION
MILLION
Q2 2021
Q2 2020
$
Q2 2021
Q2 2020
+190%
+14%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
120
6
100
5
80
4
60
3
40
2
20
1
0
0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
120
155%
$4,591,329
14%
Q2 2020
47
-6%
$4,044,330
23%
Q2 2019
50
-28%
$3,288,384
-38%
Q2 2018
69
baseline
$5,319,667
baseline
YTD 2021
228
135%
$4,683,546
5%
Date
© Westside Estate Agency
11
90024 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
30.6
$
MILLION
158
+417%
NUMBER OF SALES • Q2
3.06
MILLION
MILLION
Q2 2021
Q2 2020
$
4.94
$
MILLION Q2 2021
Q2 2020
+62%
AVERAGE PRICE • 12 MONTH ROLLING
35
5
30
4
25 20
3
15
2
10
1
5 0
0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
32
220%
$4,938,906
62%
Q2 2020
10
-57%
$3,055,650
14%
Q2 2019
23
15%
$2,680,413
-40%
Q2 2018
20
baseline
$4,472,345
baseline
YTD 2020
54
80%
$4,411,731
30%
Date
© Westside Estate Agency
12
90049 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
263
$
MILLION
707
5.27
MILLION
MILLION
Q2 2021
Q2 2020
$
MILLION Q2 2021
Q2 2020
+168%
5.70
$
+8%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
150
6 5
120
4
90
3
60
2
30
1
0
0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
124
148%
$5,702,100
8%
Q2 2020
50
-43%
$5,268,700
-5%
Q2 2019
88
28%
$5,517,608
9%
Q2 2018
69
baseline
$5,078,471
baseline
YTD 2021
224
111%
$5,127,608
3%
Date
© Westside Estate Agency
13
90025 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
10.1
$
MILLION
60.6 +501%
2.24
1.6
$
MILLION
MILLION
Q2 2021
Q2 2020
$
MILLION Q2 2021
Q2 2020
+40%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
30
2.5
25
2.0
20
1.5
15 1.0
10 5
0.5
0
0.0 2018
2020
2019
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
27
350%
$2,242,981
40%
Q2 2020
6
-73%
$1,600,667
-30%
Q2 2019
22
-8%
$2,275,523
24%
Q2 2018
24
baseline
$1,841,625
baseline
YTD 2021
41
273%
$2,304,110
41%
Date
© Westside Estate Agency
14
90402 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
96.2
$
MILLION
334
6
50
5
40
4
30
3
20
2
10
1
0
0 2020
2019
MILLION
+18%
AVERAGE PRICE • 12 MONTH ROLLING
60
2018
5.96
$
Q2 2021
Q2 2020
+247%
NUMBER OF SALES • Q2
5.07
MILLION
MILLION
Q2 2021
Q2 2020
$
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
56
195%
$5,964,063
18%
Q2 2020
19
-14%
$5,065,447
-13%
Q2 2019
22
-24%
$5,809,182
39%
Q2 2018
29
baseline
$4,164,914
baseline
YTD 2021
89
154%
$5,560,124
15%
Date
© Westside Estate Agency
15
90005 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
7.18
$
MILLION
19.6
174%
1.20
MILLION
MILLION
Q2 2021
Q2 2020
$
2.18
$
MILLION Q2 2021
Q2 2020
+82%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
12
4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0
10 8 6 4 2 0 2018
2020
2019
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
9
50%
$2,182,111
82%
Q2 2020
6
-33%
$1,196,167
-40%
Q2 2019
9
-18%
$1,993,611
-31%
Q2 2018
11
baseline
$2,870,818
baseline
YTD 2021
25
92%
$2,583,780
95%
Date
© Westside Estate Agency
16
90027 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
61.7
$
MILLION
152
+147%
2.29
MILLION
MILLION
Q2 2021
Q2 2020
$
2.58
$
MILLION Q2 2021
Q2 2020
+13%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
60
2.5
50
2.0
40
1.5
30
1.0
20 10
0.5
0
0.0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
59
119%
$2,582,271
13%
Q2 2020
27
-34%
$2,287,870
12%
Q2 2019
41
-24%
$2,049,671
-8%
Q2 2018
54
baseline
$2,230,842
baseline
YTD 2021
113
71%
$2,440,739
17%
Date
© Westside Estate Agency
17
90064 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
78
$
MILLION
170
+117%
2.36
MILLION
MILLION
Q2 2021
Q2 2020
$
2.15
$
MILLION Q2 2021
Q2 2020
-9%
NUMBER OF SALES • Q2
AVERAGE PRICE • 12 MONTH ROLLING
80 70 60 50 40 30 20 10 0
2.5 2.0 1.5 1.0 0.5 0.0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
79
139%
$2,147,892
-9%
Q2 2020
33
-59%
$2,364,106
16%
Q2 2019
80
31%
$2,030,662
1%
Q2 2018
61
baseline
$2,017,098
baseline
YTD 2021
132
59%
$2,166,689
-5%
Date
© Westside Estate Agency
18
90291 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
71.3
$
MILLION
187
+162%
NUMBER OF SALES • Q2
2.30
MILLION
MILLION
Q2 2021
Q2 2020
$
2.59
$
MILLION Q2 2021
Q2 2020
+13%
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 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
72
132%
$2,592,167
13%
Q2 2020
31
-33%
$2,298,565
1%
Q2 2019
46
-12%
$2,278,109
2%
Q2 2018
52
baseline
$2,225,202
baseline
YTD 2021
133
82%
$2,392,518
3%
Date
© Westside Estate Agency
19
90292 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
10.7
$
MILLION
59
+453%
NUMBER OF SALES • Q2
2.13
MILLION
MILLION
Q2 2021
Q2 2020
$
2.68
$
MILLION Q2 2021
Q2 2020
+26%
AVERAGE PRICE • 12 MONTH ROLLING
25
3.0
20
2.5 2.0
15
1.5
10
1.0
5
0.5
0
0.0 2018
2019
2020
2021
2018
2019
2020
2021
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
22
340%
$2,681,659
26%
Q2 2020
5
-55%
$2,133,400
-10%
Q2 2019
11
38%
$2,365,182
-13%
Q2 2018
8
baseline
$2,724,688
baseline
YTD 2021
37
164%
$2,514,568
-3%
Date
© Westside Estate Agency
20
METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION
SALES VOLUME
$
871
$
MILLION
5.42 +522%
NUMBER OF SALES • Q2
2.55
MILLION
BILLION
Q2 2021
Q2 2020
$
2.93
$
MILLION Q2 2021
Q2 2020
+15%
AVERAGE PRICE • 12 MONTH ROLLING 3.0
2000
2.5
1500
2.0 1.5
1000
1.0
500
0.5 0.0
0 2018
2019
2020
2021
2018
2019
2020
2021
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q2 2021
1884
441%
$2,937,772
15%
Q2 2020
341
-39%
$2,553,252
13%
Q2 2019
563
-8%
$2,254,253
-12%
Q2 2018
615
baseline
$2,563,328
baseline
YTD 2021
3119
294%
$2,930,307
23%
© Westside Estate Agency
21
YEAR TO DATE SALES 2019
2018 Zip Code
Sales
Average Price
Sales
Δ vs ‘18
Average Price
Δ vs ‘18
90210
126
$5,633,242
124
-2%
$7,029,852
25%
90211
12
$2,706,000
16
33%
$2,723,844
1%
90212
18
$3,173,056
10
-44%
$2,531,300
-20%
90069
73
$3,959,959
67
-8%
$4,114,810
4%
90077
55
$7,252,667
67
22%
$4,488,449
-38%
90046
138
$2,206,846
135
-2%
$2,133,037
-3%
90265
120
$6,711,533
78
-35%
$4,531,628
-32%
90272
125
$5,231,059
95
-24%
$3,817,344
-27%
90024
39
$4,039,415
35
-10%
$2,755,729
-32%
90049
145
$4,867,248
148
2%
$5,099,802
5%
90025
39
$1,748,090
32
-18%
$1,992,375
14%
90402
42
$4,351,500
36
-14%
$5,234,278
20%
90005
18
$3,749,667
16
-11%
$1,736,938
-54%
90027
90
$2,153,733
69
-23%
$1,929,319
-10%
90064
102
$1,998,265
130
27%
$2,064,415
3%
90291
89
$2,233,090
80
-10%
$2,436,081
9%
90292
20
$2,473,403
13
-35%
$2,367,462
-4%
Miami
1074
$2,470,231
949
-12%
$2,436,383
-1%
PROPERTIES OF $1M OR MORE 2020
2021
Sales
Δ vs ‘19
Average Price
Δ vs ‘19
Sales
Δ vs ‘20
Average Price
Δ vs ‘20
116
-6%
$8,679,888
23%
218
88%
$7,507,955
-14%
19
19%
$2,588,053
-5%
31
63%
$3,051,694
18%
10
0%
$3,132,850
24%
16
60%
$3,049,781
-3%
53
-21%
$6,429,670
56%
103
94%
$4,725,010
-27%
45
-33%
$7,655,422
71%
92
104%
$5,495,418
-28%
108
-20%
$2,119,815
-1%
210
94%
$2,224,409
5%
91
17%
$4,473,505
-1%
188
107%
$6,875,114
54%
97
2%
$4,455,861
17%
228
135%
$4,683,546
5%
30
-14%
$3,381,217
23%
54
80%
$4,411,731
30%
106
-28%
$4,978,133
-2%
224
111%
$5,127,608
3%
11
-66%
$1,628,455
-18%
41
273%
$2,304,110
41%
35
-3%
$4,821,786
-8%
89
154%
$5,560,124
15%
13
-19%
$1,321,769
-24%
25
92%
$2,583,780
95%
66
-4%
$2,090,070
8%
113
71%
$2,440,739
17%
83
-36%
$2,272,861
10%
132
59%
$2,166,689
-5%
73
-9%
$2,322,079
-5%
133
82%
$2,392,518
3%
14
8%
$2,588,877
9%
37
164%
$2,514,568
-3%
792
-17%
$2,382,052
-2%
3119
294%
$2,930,307
23%
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 2018. 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 3900 Cross Creek Rd #5 Malibu, CA 90265
Westside Estate Agency 2980 Macfarlane Road Miami, FL 33133 s
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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