MICRO MARKET REPORT LOS ANGELES ISSUE #50 1/17/24 FOR Q4 2023 STATISTICS
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
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 90027 - LOS FELIZ
16
ZIP CODE 90064 - CHEVIOT HILLS
17
ZIP CODE 90291 - VENICE
18
ZIP CODE 90292 - MARINA DEL REY
19
ALL ZIP CODES YEAR TO DATE SALES
20
ABOUT WEA
22
Data provided by First American Title Co. of Los Angeles County records for sales exceeding $1 million.
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
2
A MESSAGE FROM WEA HAPPY NEW YEAR On January 1, 2024, I woke up with a great feeling of optimism. Loan rates have decreased and are expected to continue dropping throughout the year, moving towards a more standard rate. It’s important to note that the 3% rates we recently enjoyed are unlikely to return. Over the past 50 years, the average mortgage rate has been around 6%, and it’s reasonable to expect consistency around that figure. Recent luxury sales indicate many closings below the listed price, signaling a shift from aspirational pricing to more realistic figures. Sellers should be cautious about brokers suggesting inflated list prices just to secure a listing, as this often leads to properties languishing on the market and eventual price reductions. It’s advisable to consult knowledgeable brokers to determine the best pricing strategy. Given that inventory has not shown any significant increase, appropriately priced homes are likely to find demand. However, external factors beyond our control can impact the market. Events like the Russian/Ukrainian war, Israeli/Hamas conflict, tension between China and Taiwan, and the disruption of trade routes through the Red Sea and the Suez Canal result in shipping delays and the increased cost of goods. Maintaining a positive outlook and treating everyone equally is crucial in navigating uncertainties. Stephen Shapiro Co-Founder, Westside Estate Agency
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
3
90210 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
687
$
MILLION
295
$
MILLION
Q4 2022
Q4 2023
10.2
$
MILLION
-57%
Q4 2022
NUMBER OF SALES • Q4
7.04 MILLION
Q4 2023
-31%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
120 12
100
10 IN MILLIONS
80 60 40 20 0
8 6 4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
42
-37.3%
$7,047,119 / $4,181,250
-31% / -40%
Q4 2022
67
-36.2%
$10,254,636 / $7,000,000
10% / 8%
Q4 2021
105
28%
$9,337,605 / $6,460,000
34% / 35%
Q4 2020
82
baseline
$6,964,445 / $4,780,000
baseline
YTD 2023
181
-39.1%
$8,693,938 / $4,983,000
-11% / -29%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
4
90211 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
18.2
$
MILLION
19.1
$
MILLION
Q4 2022
Q4 2023
2.28
$
MILLION
5%
Q4 2022
NUMBER OF SALES • Q4
3.19 MILLION
Q4 2023
40%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
3.5 IN MILLIONS
8 6 4 2
3 2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
6
-25%
$3,193,667 / $2,806,000
40% / 19%
Q4 2022
8
0%
$2,280,688 / $2,350,000
-24% / -20%
Q4 2021
8
300%
$2,989,313 / $2,938,750
15% / 13%
Q4 2020
2
baseline
$2,607,500 / $2,607,500
baseline
YTD 2023
25
-35.9%
$2,992,184 / $2,800,000
4% / 4%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
5
90212 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
11.09
$
MILLION
9.03
$
MILLION
Q4 2022
Q4 2023
3.69
$
MILLION
-19%
Q4 2022
NUMBER OF SALES • Q4
3.01 MILLION
Q4 2023
-19%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
5
6
4 IN MILLIONS
8
4 2 0
MEDIAN PRICE
3 2 1 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
3
0%
$3,012,000 / $2,960,000
-19% / -4%
Q4 2022
3
-57.1%
$3,698,333 / $3,095,000
-8% / -28%
Q4 2021
7
0%
$4,036,429 / $4,300,000
56% / 56%
Q4 2020
7
baseline
$2,584,000 / $2,750,000
baseline
YTD 2023
19
-13.6%
$3,989,895 / $3,500,000
1% / 2%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
6
90069 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
131.2
$
MILLION
76.4
$
MILLION
Q4 2022
Q4 2023
6.25
$
MILLION
-42%
Q4 2022
NUMBER OF SALES • Q4
3.47 MILLION
Q4 2023
-44%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
70
AVG PRICE
MEDIAN PRICE
60 8
50 IN MILLIONS
40 30 20
6 4 2
10 0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
22
4.8%
$3,472,773 / $2,292,500
-44% / -43%
Q4 2022
21
-65.6%
$6,250,405 / $4,000,000
28% / 10%
Q4 2021
61
27.1%
$4,895,041 / $3,650,000
37% / 22%
Q4 2020
48
baseline
$3,579,831 / $3,000,000
baseline
YTD 2023
119
-7%
$4,647,639 / $3,300,000
4% / -8%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
7
90077 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
153
$
MILLION
41.7
$
MILLION
Q4 2022
Q4 2023
6.12
$
MILLION
-73%
Q4 2022
NUMBER OF SALES • Q4
2.98 MILLION
Q4 2023
-51%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
50 8 IN MILLIONS
40 30 20
6 4 2
10 0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
14
-44%
$2,983,929 / $2,075,000
-51% / -49%
Q4 2022
25
-45.7%
$6,125,500 / $4,050,000
-22% / 10%
Q4 2021
46
-8%
$7,809,402 / $3,677,750
18% / 6%
Q4 2020
50
baseline
$6,637,950 / $3,476,500
baseline
YTD 2023
86
-25.9%
$4,950,902 / $2,992,000
-35% / -28%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
8
90046 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
144
$
MILLION
104
$
MILLION
Q4 2022
Q4 2023
2.44
$
MILLION
-28%
Q4 2022
NUMBER OF SALES • Q4
2.48 MILLION
Q4 2023
2%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
MEDIAN PRICE
100 2.5 IN MILLIONS
80 60 40
2 1.5 1
20 0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
42
-28.8%
$2,486,512 / $2,222,500
2% / 11%
Q4 2022
59
-44.3%
$2,445,542 / $2,000,000
0% / -9%
Q4 2021
106
-0.9
$2,435,888 / $2,196,000
12% / 19%
Q4 2020
107
baseline
$2,170,388 / $1,850,000
baseline
YTD 2023
224
-23.3%
$3,008,767 / $2,287,500
19% / 3%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
9
90265 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
521
$
MILLION
239
$
MILLION
Q4 2022
Q4 2023
10.2
$
MILLION
-54%
Q4 2022
NUMBER OF SALES • Q4
8.24 MILLION
Q4 2023
-19%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
12
80
10 IN MILLIONS
100
60 40 20
MEDIAN PRICE
8 6 4 2
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
29
-43.1%
$8,241,707 / $4,200,000
-19% / -7%
Q4 2022
51
-48%
$10,232,892 / $4,500,000
16% / 22%
Q4 2021
98
-9.3%
$8,814,704 / $3,675,000
50% / 2%
Q4 2020
108
baseline
$5,862,032 / $3,600,000
baseline
YTD 2023
158
-36%
$7,272,369 / $3,725,000
-4% / -15%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
10
90272 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
365
$
MILLION
265
$
MILLION
Q4 2022
Q4 2023
6.52
$
MILLION
-27%
Q4 2022
NUMBER OF SALES • Q4
5.3 MILLION
Q4 2023
-19%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
100
MEDIAN PRICE
8 IN MILLIONS
80 60 40 20 0
6 4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
50
-10.7%
$5,301,050 / $4,300,000
-19% / -15%
Q4 2022
56
-43.4%
$6,524,893 / $5,040,000
33% / 27%
Q4 2021
99
-3.9%
$4,910,455 / $3,980,000
14% / 15%
Q4 2020
103
baseline
$4,307,549 / $3,450,000
baseline
YTD 2023
218
-16.8%
$5,829,952 / $4,277,500
-4% / -7%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
11
90024 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
82.7
$
MILLION
83.5
$
MILLION
Q4 2022
Q4 2023
5.51
$
MILLION
1%
Q4 2022
NUMBER OF SALES • Q4
4.91 MILLION
Q4 2023
-11%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
35 30 6
25 IN MILLIONS
20 15 10
4 2
5 0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
17
13.3%
$4,911,912 / $3,100,000
-11% / -28%
Q4 2022
15
-55.9%
$5,516,600 / $4,306,000
21% / 27%
Q4 2021
34
30.8%
$4,562,265 / $3,400,000
-8% / 20%
Q4 2020
26
baseline
$4,956,538 / $2,822,500
baseline
YTD 2023
67
-21.2%
$4,871,912 / $3,631,000
2% / 0%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
12
90049 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
322
$
MILLION
274
$
MILLION
Q4 2022
Q4 2023
6.2 MILLION
-15%
Q4 2022
NUMBER OF SALES • Q4 125
IN MILLIONS
100 75 50 25 0 2021
2022
4.99 MILLION
Q4 2023
-20%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
2020
$
2023
MEDIAN PRICE
7 6 5 4 3 2 1 0 2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
55
5.8%
$4,992,000 / $3,925,000
-20% / -10%
Q4 2022
52
-55.9%
$6,206,870 / $4,375,000
-5% / 0%
Q4 2021
118
16.8%
$6,525,575 / $4,375,000
44% / 39%
Q4 2020
101
baseline
$4,529,609 / $3,140,000
baseline
YTD 2023
218
-27.1%
$5,499,902 / $3,841,000
-7% / 0%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
13
90025 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
12.8
$
MILLION
42.7
$
MILLION
Q4 2022
Q4 2023
2.14
$
MILLION
231%
Q4 2022
NUMBER OF SALES • Q4
2.51 MILLION
Q4 2023
17%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
25
MEDIAN PRICE
3
20 IN MILLIONS
15 10 5
2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
17
183.3%
$2,514,059 / $2,000,000
17% / 9%
Q4 2022
6
-75%
$2,149,583 / $1,829,000
11% / 0%
Q4 2021
24
4.3%
$1,934,042 / $1,831,750
13% / 15%
Q4 2020
23
baseline
$1,709,739 / $1,590,000
baseline
YTD 2023
58
-1.7%
$3,198,636 / $2,351,250
41% / 27%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
14
90402 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
95.7
$
MILLION
151.3
$
MILLION
Q4 2022
Q4 2023
5.31
$
MILLION
58%
Q4 2022
NUMBER OF SALES • Q4
5.82 MILLION
Q4 2023
9%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
50
MEDIAN PRICE
6
40
5 IN MILLIONS
30 20 10
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
26
44.4%
$5,820,495 / $4,497,500
9% / -5%
Q4 2022
18
-60%
$5,317,639 / $4,737,250
-10% / -8%
Q4 2021
45
80%
$5,901,422 / $5,150,000
1% / 10%
Q4 2020
25
baseline
$5,855,320 / $4,675,000
baseline
YTD 2023
100
-18%
$5,563,422 / $4,990,500
-5% / -7%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
15
90027 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
69.1
$
MILLION
72.6
$
MILLION
Q4 2022
Q4 2023
2.16
$
MILLION
5%
Q4 2022
NUMBER OF SALES • Q4
2.5 MILLION
Q4 2023
16%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
75 3 IN MILLIONS
60 45 30 15
2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
29
-9.4%
$2,504,776 / $1,933,000
16% / 11%
Q4 2022
32
-49.2%
$2,161,202 / $1,742,500
-13% / 0%
Q4 2021
63
-13.7%
$2,474,019 / $1,745,000
-2% / -4%
Q4 2020
73
baseline
$2,525,561 / $1,825,000
baseline
YTD 2023
127
-14.8%
$3,204,030 / $2,450,000
19% / 7%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
16
90064 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
101
$
MILLION
81.2
$
MILLION
Q4 2022
Q4 2023
2.53
$
MILLION
-20%
Q4 2022
NUMBER OF SALES • Q4
2.8 MILLION
Q4 2023
10%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
75 3 IN MILLIONS
60 45 30 15
2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
29
-27.5%
$2,801,121 / $2,256,000
10% / -3%
Q4 2022
40
-38.5%
$2,537,513 / $2,330,000
-1% / 10%
Q4 2021
65
-13.3%
$2,553,590 / $2,124,818
11% / 12%
Q4 2020
75
baseline
$2,296,880 / $1,905,000
baseline
YTD 2023
152
-23.2%
$3,209,256 / $2,252,000
27% / 2%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
17
90291 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
96.6
$
MILLION
111.8
$
MILLION
Q4 2022
Q4 2023
2.84
$
MILLION
16%
Q4 2022
NUMBER OF SALES • Q4
2.94 MILLION
Q4 2023
4%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
3 IN MILLIONS
80 60 40 20
2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
38
11.8%
$2,942,303 / $2,629,000
4% / 29%
Q4 2022
34
-57.5%
$2,841,214 / $2,041,250
2% / -21%
Q4 2021
80
27%
$2,794,834 / $2,585,000
22% / 32%
Q4 2020
63
baseline
$2,291,937 / $1,960,000
baseline
YTD 2023
150
-34.2%
$3,093,831 / $2,642,500
8% / 11%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
18
90292 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
29.5
$
MILLION
15.2
$
MILLION
Q4 2022
Q4 2023
2.95
$
MILLION
-48%
Q4 2022
NUMBER OF SALES • Q4
2.18 MILLION
Q4 2023
-26%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
20
MEDIAN PRICE
3 IN MILLIONS
15 10 5
2.5 2 1.5 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q4 2023
7
-30%
$2,184,286 / $1,915,000
-26% / -28%
Q4 2022
10
-47.4%
$2,956,500 / $2,677,500
2% / -6%
Q4 2021
19
26.7%
$2,887,263 / $2,835,000
6% / -5%
Q4 2020
15
baseline
$2,734,333 / $2,975,000
baseline
YTD 2023
25
-34.2%
$2,498,000 / $2,175,000
-15% / -24%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
19
YEAR TO DATE SALES 2021
2020
20
Zip Code
Sales
Average Price
Sales
Δ vs ‘20
Average Price
Δ vs ‘20
90210
286
$8,353,146
324
13.3%
$7,872,778
-6%
90211
30
$2,507,550
42
40%
$2,968,405
18%
90212
23
$3,097,500
29
26.1%
$3,250,948
5%
90069
141
$4,660,932
176
24.8%
$4,622,815
-1%
90077
151
$6,331,116
133
-11.9%
$5,667,707
-10%
90046
318
$2,142,689
310
-2.5%
$2,348,516
10%
90265
313
$5,450,607
282
-9.9%
$6,863,796
26%
90272
294
$4,286,492
330
12.2%
$5,199,089
21%
90024
69
$4,041,822
84
21.7%
$5,103,024
26%
90049
309
$4,678,175
320
3.6%
$5,167,193
10%
90025
53
$1,777,830
61
15.1%
$2,334,754
31%
90402
94
$5,343,245
144
53.2%
$5,609,406
5%
90027
187
$2,349,769
173
-7.5%
$2,497,610
6%
90064
209
$2,257,533
201
-3.8%
$2,139,988
-5%
90291
203
$2,272,733
200
-1.5%
$2,423,819
7%
90292
46
$2,524,267
47
2.2%
$2,723,245
8%
PROPERTIES OF $1M OR MORE 2022
2023
Sales
Δ vs ‘21
Average Price
Δ vs ‘21
Sales
Δ vs ‘22
Average Price
Δ vs ‘22
297
-8.3%
$9,783,970
24%
181
-39.1%
$8,693,938
-11%
39
-7.1%
$2,868,267
-3%
25
-35.9%
$2,992,184
4%
22
-24.1%
$3,967,818
22%
19
-13.6%
$3,989,895
1%
128
-27.3%
$4,449,768
-4%
119
-7%
$4,647,639
4%
116
-12.8%
$7,622,612
34%
86
-25.9%
$4,950,902
-35%
292
-5.8%
$2,520,058
7%
224
-23.3%
$3,008,767
19%
247
-12.4%
$7,537,056
10%
158
-36%
$7,272,369
-4%
262
-20.6%
$6,093,374
17%
218
-16.8%
$5,829,952
-4%
85
1.2%
$4,764,182
-7%
67
-21.2%
$4,871,912
2%
299
-6.6%
$5,921,634
15%
218
-27.1%
$5,499,902
-7%
59
-3.3%
$2,262,466
-3%
58
-1.7%
$3,198,636
41%
122
-15.3%
$5,868,603
5%
100
-18%
$5,563,422
-5%
149
-13.9%
$2,693,105
8%
127
-14.8%
$3,204,030
19%
198
-1.5%
$2,536,427
19%
152
-23.2%
$3,209,256
27%
228
14%
$2,858,214
18%
150
-34.2%
$3,093,831
8%
28
-19.1%
$2,926,505
7%
25
-34.2%
$2,498,000
-15%
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.
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.
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.”
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 in-house escrow or title company; rather, we’re free to focus on getting the best and doing the best for each client.
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. 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 cutting-edge of innovation, keeping a pulse on and implementing new technologies as soon as they’re available.
WESTSIDE ESTATE AGENCY
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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.
MICRO MARKET REPORT LOS ANGELES Q2 2023
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CONTACT US BEVERLY HILLS
MALIBU
Westside Estate Agency 460 North Canon Drive Beverly Hills, CA 90210
Westside Estate Agency 3900 Cross Creek Rd #5 Malibu, CA 90265
(310) 247-7770 SalesBH@WEAhomes.com
(310) 456-1171 SalesMalibu@WEAhomes.com
WESTSIDE ESTATE AGENCY
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MICRO MARKET REPORT LOS ANGELES Q2 2023
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