MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #37 10/25/20 FOR Q3 2020 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 WHO WOULD HAVE THOUGHT? When the COVID-19 lockdown started in early/mid-March, the majority of people thought that the real estate market would be severely affected, if not stalled or crashed. We believed that this health crisis was going to stop our business and, for a while, we weren’t even allowed to show houses. Then we were given limited permissions that restricted the number of people who could view a home, including no open houses or broker open houses, and to this day we still have substantial restrictions. These rules severely limit our abilities, but then an interesting thing happened. The real estate business remained strong due to the optics that it is safer to live in Los Angeles and in single-family homes. Most people were (and still are) working out of their homes instead of offices, which became a seductive reason to move here or upgrade. This trend has continued through the 3rd quarter of the year as the included statistics reflect. The vast percentage of Los Angeles’ zip codes show increases in price and volume, with the exceptions being in more congested areas. Review the statistics that apply to your zip code for more details, and let’s hope we conquer this virus and continue our upward trend in sales and values.
DON’T FORGET TO VOTE! Stephen Shapiro Co-Founder, Westside Estate Agency
3
90210 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
515
$
MILLION
811
+58%
9.21
6.6
$
MILLION
MILLION
Q3 2020
Q3 2019
$
MILLION Q3 2020
Q3 2019
+40%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
100
10
80
8
60
6
40
4
20
2
0
0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
88
13%
$9,216,458
40%
Q3 2019
78
-5%
$6,597,346
15%
Q3 2018
82
8%
$5,735,689
5%
Q3 2017
76
baseline
$5,457,191
baseline
204
1%
$8,183,409
29%
Date
YTD 2020
© Westside Estate Agency
4
90211 90210 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
16
$
MILLION
20.8 +30%
NUMBER OF SALES • Q3
2.67
MILLION
MILLION
Q3 2020
Q3 2019
$
2.32
$
MILLION Q3 2020
Q3 2019
-13%
AVERAGE PRICE • 12 MONTH ROLLING
10
3.0
8
2.5 2.0
6
1.5
4
1.0
2
0.5
0
0.0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
9
50%
$2,315,389
-13%
Q3 2019
6
-33%
$2,667,500
6%
Q3 2018
9
0%
$2,515,333
6%
Q3 2017
9
baseline
$2,363,111
baseline
YTD 2020
28
27%
$2,500,411
-29%
Date
© Westside Estate Agency
5
90212 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
30.1
$
MILLION
20.8 -31%
NUMBER OF SALES • Q3
3.35
MILLION
MILLION
Q3 2020
Q3 2019
$
3.47
$
MILLION Q3 2020
Q3 2019
+4%
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 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
6
-33%
$3,472,667
4%
Q3 2019
9
80%
$3,348,056
8%
Q3 2018
5
-50%
$3,107,900
-6%
Q3 2017
10
baseline
$3,313,400
baseline
YTD 2020
16
-11%
$3,322,156
13%
Date
© Westside Estate Agency
6
90069 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
148
$
MILLION
145
-2%
NUMBER OF SALES • Q3
MILLION +12%
AVERAGE PRICE • 12 MONTH ROLLING 5
40
4
30
3
20
2
10
1
0
0 2018
3.61
$
Q3 2020
Q3 2019
50
2017
3.22
MILLION
MILLION
Q3 2020
Q3 2019
$
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
40
-13%
$3,614,675
12%
Q3 2019
46
5%
$3,216,251
-31%
Q3 2018
44
-4%
$4,659,636
37%
Q3 2017
46
baseline
$3,406,543
baseline
YTD 2020
93
-18%
$5,218,919
55%
Date
© Westside Estate Agency
7
90077 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
185
$
MILLION
280
+51%
NUMBER OF SALES • Q3
5.44
MILLION
MILLION
Q3 2020
Q3 2019
$
4.99
$
MILLION Q3 2020
Q3 2019
-8%
AVERAGE PRICE • 12 MONTH ROLLING
60
8 7 6 5 4 3 2 1 0
50 40 30 20 10 0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
56
65%
$4,992,982
-8%
Q3 2019
34
13%
$5,437,794
2%
Q3 2018
30
-12%
$5,334,500
-23%
Q3 2017
34
baseline
$6,941,603
baseline
YTD 2020
101
0%
$6,179,218
50%
Date
© Westside Estate Agency
8
90046 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
157
$
MILLION
220
+40%
1.99
MILLION
MILLION
Q3 2020
Q3 2019
$
2.14
$
MILLION Q3 2020
Q3 2019
+8%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
120
2.5
100
2.0
80
1.5
60
1.0
40 20
0.5
0
0.0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
103
30%
$2,137,899
8%
Q3 2019
79
-6%
$1,985,829
2%
Q3 2018
84
8%
$1,956,458
1%
Q3 2017
78
baseline
$1,927,910
baseline
YTD 2020
211
-1%
$2,128,643
-13%
Date
© Westside Estate Agency
9
90265 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
283
$
MILLION
666
5.89
MILLION
MILLION
Q3 2020
Q3 2019
$
MILLION Q3 2020
Q3 2019
+135%
5.84
$
-1%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
120
6
100
5
80
4
60
3
40
2
20
1
0
0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
114
138%
$5,840,803
-1%
Q3 2019
48
-34%
$5,894,271
32%
Q3 2018
73
4%
$4,455,827
-6%
Q3 2017
70
baseline
$4,760,628
baseline
205
63%
$5,233,856
8%
Date
YTD 2020
© Westside Estate Agency
10
90272 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
361
$
MILLION
384
5
80
4
60
3
40
2
20
1
0
0 2018
MILLION
-11%
AVERAGE PRICE • 12 MONTH ROLLING
100
2017
4.09
Q3 2020
Q3 2019
+6%
NUMBER OF SALES • Q3
4.57
$
MILLION
MILLION
Q3 2020
Q3 2019
$
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
94
19%
$4,088,644
-11%
Q3 2019
79
30%
$4,572,937
20%
Q3 2018
61
-19%
$3,826,287
-6%
Q3 2017
75
baseline
$4,083,880
baseline
YTD 2020
191
10%
$4,275,136
6%
Date
© Westside Estate Agency
11
90024 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
62.4
$
MILLION
48.6 -22%
NUMBER OF SALES • Q3
MILLION
+8%
AVERAGE PRICE • 12 MONTH ROLLING 5
20
4
15
3
10
2
5
1
0
0 2018
3.74
$
Q3 2020
Q3 2019
25
2017
3.46
MILLION
MILLION
Q3 2020
Q3 2019
$
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
13
-28%
$3,736,863
8%
Q3 2019
18
-10%
$3,463,889
19%
Q3 2018
20
-13%
$2,906,550
-32%
Q3 2017
23
baseline
$4,267,304
baseline
YTD 2019
43
-19%
$3,488,738
10%
Date
© Westside Estate Agency
12
90049 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
390
$
MILLION
460
4.81
4.51
$
MILLION
MILLION
MILLION
Q3 2020
Q3 2019
$
Q3 2020
Q3 2019
+18%
-6%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
120
5
100
4
80
3
60
2
40 20
1
0
0 2017
2019
2018
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
102
26%
$4,512,941
-6%
Q3 2019
81
-5%
$4,814,501
12%
Q3 2018
85
2%
$4,304,184
15%
Q3 2017
83
baseline
$3,742,639
baseline
208
-9%
$4,750,316
-4%
Date
YTD 2020
© Westside Estate Agency
13
90025 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
39.4
$
MILLION
36.9 -6%
1.87
MILLION
MILLION
Q3 2020
Q3 2019
$
1.94
$
MILLION Q3 2020
Q3 2019
+4%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
25
2.0
20
1.5
15 1.0
10
0.5
5 0
0.0 2017
2019
2018
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
19
-10%
$1,946,737
4%
Q3 2019
21
91%
$1,874,381
-1%
Q3 2018
11
-21%
$1,900,273
10%
Q3 2017
14
baseline
$1,728,650
baseline
YTD 2020
30
-43%
$1,830,033
-8%
Date
© Westside Estate Agency
14
90402 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
142
$
MILLION
187
+32%
NUMBER OF SALES • Q3
5.24
5.5
$
MILLION
MILLION
MILLION
Q3 2020
Q3 2019
$
Q3 2020
Q3 2019
+5%
AVERAGE PRICE • 12 MONTH ROLLING
35
6
30
5
25
4
20
3
15
2
10 5
1
0
0 2017
2019
2018
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
34
26%
$5,503,515
5%
Q3 2019
27
0%
$5,244,924
10%
Q3 2018
27
-13%
$4,754,611
-11%
Q3 2017
31
baseline
$5,312,484
baseline
YTD 2020
69
10%
$5,157,710
-3%
Date
© Westside Estate Agency
15
90005 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
22.3
$
MILLION
9.62 -57%
NUMBER OF SALES • Q3
MILLION -21%
AVERAGE PRICE • 12 MONTH ROLLING
12
3.0 2.5
8
2.0
6
1.5
4
1.0
2
0.5
0
0.0 2019
2018
1.6
$
Q3 2020
Q3 2019
10
2017
2.02
MILLION
MILLION
Q3 2020
Q3 2019
$
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
6
-45%
$1,603,167
-21%
Q3 2019
11
22%
$2,026,727
-24%
Q3 2018
9
-18%
$2,660,833
-2%
Q3 2017
11
baseline
$2,704,091
baseline
YTD 2020
19
-30%
$1,410,632
-34%
Date
© Westside Estate Agency
16
90027 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
75.9
$
MILLION
117
+54%
NUMBER OF SALES • Q3
MILLION
+41%
AVERAGE PRICE • 12 MONTH ROLLING 2.5
40
2.0
30
1.5
20
1.0
10
0.5
0
0.0 2018
2.44
$
Q3 2020
Q3 2019
50
2017
1.73
MILLION
MILLION
Q3 2020
Q3 2019
$
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
48
9%
$2,439,503
41%
Q3 2019
44
0%
$1,726,648
-28%
Q3 2018
44
10%
$2,388,295
26%
Q3 2017
40
baseline
$1,893,688
baseline
YTD 2020
114
1%
$2,237,200
-3%
Date
© Westside Estate Agency
17
90064 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
87.2
$
MILLION
111
+27%
NUMBER OF SALES • Q3
2.17
1.9
$
MILLION
MILLION
Q3 2020
Q3 2019
$
MILLION Q3 2020
Q3 2019
+15%
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 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
51
11%
$2,174,725
15%
Q3 2019
46
-37%
$1,896,533
-6%
Q3 2018
73
-1%
$2,020,973
26%
Q3 2017
74
baseline
$1,604,845
baseline
YTD 2020
134
-24%
$2,235,511
1%
Date
© Westside Estate Agency
18
90291 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
121
$
MILLION
147
+22%
2.15
MILLION
MILLION
Q3 2020
Q3 2019
$
2.2
$
MILLION Q3 2020
Q3 2019
+2%
NUMBER OF SALES • Q3
AVERAGE PRICE • 12 MONTH ROLLING
2.5
2.5
2.0
2.0
1.5
1.5
1.0
1.0
0.5
0.5
0.0
0.0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
67
20%
$2,201,031
2%
Q3 2019
56
10%
$2,152,598
0%
Q3 2018
51
-14%
$2,152,627
-9%
Q3 2017
59
baseline
$2,375,305
baseline
YTD 2020
140
3%
$2,264,149
-6%
Date
© Westside Estate Agency
19
90292 AVG. PRICE PER TRANSACTION
SALES VOLUME
$
25.3
$
MILLION
38.9 +54%
NUMBER OF SALES • Q3
2.29
2.3
$
MILLION
MILLION
Q3 2020
Q3 2019
$
MILLION Q3 2020
Q3 2019
-1%
AVERAGE PRICE • 12 MONTH ROLLING
20
3.0 2.5
15
2.0
10
1.5 1.0
5
0.5
0
0.0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
17
55%
$2,285,706
-1%
Q3 2019
11
120%
$2,300,000
3%
Q3 2018
5
-64%
$2,227,000
-15%
Q3 2017
14
baseline
$2,612,786
baseline
YTD 2020
31
29%
$2,422,622
4%
Date
© Westside Estate Agency
20
METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION
SALES VOLUME
$
1.25
$
BILLION
1.89
+51%
NUMBER OF SALES • Q3
2.53
MILLION
BILLION
Q3 2020
Q3 2019
$
2.8
$
MILLION Q3 2020
Q3 2019
+11%
AVERAGE PRICE • 12 MONTH ROLLING 3.0
800 700 600 500 400 300 200 100 0
2.5 2.0 1.5 1.0 0.5 0.0 2017
2018
2019
2020
2017
2018
2019
2020
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q3 2020
674
36%
$2,800,768
11%
Q3 2019
494
8%
$2,526,647
7%
Q3 2018
459
28%
$2,350,747
8%
Q3 2017
359
baseline
$2,172,446
baseline
YTD 2020
1464
1%
$2,574,913
4%
Date
© Westside Estate Agency
21
YEAR TO DATE SALES 2018
2017 Zip Code
Sales
Average Price
Sales
Δ vs ‘17
Average Price
Δ vs ‘17
90210
220
$5,587,837
208
-5%
$5,806,642
4%
90211
30
$2,339,533
21
-30%
$2,604,048
11%
90212
21
$3,163,266
23
10%
$3,158,891
0%
90069
126
$3,174,683
117
-7%
$4,019,833
27%
90077
105
$4,881,238
85
-19%
$6,387,161
31%
90046
224
$2,495,599
222
-1%
$2,184,054
-12%
90265
186
$4,867,769
193
4%
$5,376,851
10%
90272
223
$3,728,130
186
-17%
$4,582,228
23%
90024
64
$4,028,375
59
-8%
$3,412,179
-15%
90049
242
$3,848,569
230
-5%
$4,507,125
17%
90025
55
$2,043,347
50
-9%
$2,785,240
36%
90402
92
$4,381,848
69
-25%
$4,133,200
-6%
90005
34
$2,547,235
27
-21%
$3,503,944
38%
90027
123
$3,154,310
134
9%
$2,261,526
-28%
90064
205
$2,366,539
175
-15%
$2,302,746
-3%
90291
160
$3,367,741
140
-13%
$2,456,114
-27%
90292
35
$2,690,343
25
-29%
$3,172,480
18%
Miami
1265
$2,309,734
1532
21%
$2,435,171
5%
PROPERTIES OF $1M OR MORE 2019
2020
Sales
Δ vs ‘18
Average Price
Δ vs ‘18
Sales
Δ vs ‘19
Average Price
Δ vs ‘19
202
-3%
$6,345,631
9%
204
1%
$8,183,409
29%
22
5%
$3,525,318
35%
28
27%
$2,500,411
-29%
18
-22%
$2,945,472
-7%
16
-11%
$3,322,156
13%
113
-3%
$3,359,474
-16%
93
-18%
$5,218,919
55%
101
19%
$4,123,431
-35%
101
0%
$6,179,218
50%
214
-4%
$2,439,495
12%
211
-1%
$2,128,643
-13%
126
-35%
$4,863,702
-10%
205
63%
$5,233,856
8%
174
-6%
$4,019,527
-12%
191
10%
$4,275,136
6%
53
-10%
$3,158,726
-7%
43
-19%
$3,488,738
10%
229
0%
$4,923,461
9%
208
-9%
$4,750,316
-4%
53
6%
$1,997,792
-28%
30
-43%
$1,830,033
-8%
63
-9%
$5,293,729
28%
69
10%
$5,157,710
-3%
27
0%
$2,136,481
-39%
19
-30%
$1,410,632
-34%
113
-16%
$2,309,916
2%
114
1%
$2,237,200
-3%
176
1%
$2,210,895
-4%
134
-24%
$2,235,511
1%
136
-3%
$2,420,471
-1%
140
3%
$2,264,149
-6%
24
-4%
$2,340,292
-26%
31
29%
$2,422,622
4%
1443
-6%
$2,467,284
1%
1464
1%
$2,574,913
4%
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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