Ryan Bergum Q1 2025

QUARTERLY LOS ANGELES REAL ESTATE MARKET REPORT

Q1 2025 STATS ON STACK Q1 A look at SBP’s success for Q1 2025 THE FUTURE OF PALISADES LAND SALES Up-to-the-minute market realities from F. Ron & David TACOS & TEQUILA Highlights from real estate’s top digital magazine HONORS & HIGHLIGHTS Gold stars all around

ROBERT MORTON

SEWIT ESHETU

COURTNEY WELSH

NATHAN STADLER

KRISTA MASELLA

BRANDON SMITH

KATY YAMBAO

EDWARD HUTCHINSON

GARRETT SANDERS

JORDAN KRAMER

NATALIE GUREVITCH

APRIL 2025

To Our Clients and Friends, Spring is here, and with it, a season of hope and renewal has begun. For Los Angeles, it couldn’t come soon enough. With so many lives forever changed by January’s wildfires that took so much from our incredible city, it is astounding to see the resilience and strength of our fellow citizens, on a daily basis. We are so proud to live, work and support LA in every way we can. Our team continues to be an informed resource to all who need guidance in navigating next steps as LA begins to rebuild. You can read more on current and future land sales in Pacific Palisades in our Featured Story, page 28.

Our Q1 Report, representing the first quarter of 2025, follows here.

As always, we are dedicated to bringing you the latest in all things real estate, via our celebrated weekly blog Tacos & Tequila (be sure to sign up at tacosandtequila.com so you don’t miss a thing!) and to continually share our market updates to keep you well versed. We do so with accuracy, and often with a healthy dose of irreverent humor.

We invite you to read SBP’s Market Update for Q1, with helpful real estate info and insights into what makes Los Angeles such an incredible place to live and work—from dining, shopping and local events to some extraordinary experiences.

As a team, SBP takes enormous pride in working with buyers and sellers, finding first homes, dream homes, and second homes, and advising numerous clients. In Q1 2025 alone, SBP achieved $205,057,466 in sales volume across 26 transactions, including the highest sale record for ALL Q1 sales in Santa Monica, Venice, and Cheviot Hills. Our multiple decades of experience informs our ability to successfully navigate the realities of the market and create successful outcomes for our clients.

Smith & Berg Property Group’s steadfast commitment to providing excellent service to our community, with an enthusiastic team spirit, along with the utmost care, compassion, confidentiality and 50+ years of real estate expertise continues to distinguish us. Let us be your next real estate call. We look forward to connecting with you soon.

All the best,

Ryan Bergum

S M I T H & B E R G P R O P E R T Y G R O U P, C O M P A S S 310.500.3931 | TEAM@SMITHANDBERG.COM 1 1 7 4 0 S A N V I C E N T E B LV D , S U I T E 2 0 3 , L O S A N G E L E S , C A 9 0 0 4 9 9 4 5 4 W I L S H I R E B LV D , S U I T E 1 0 0 , B E V E R LY H I L L S , C A 9 0 2 1 2 CA DRE# 01991628, 01481236

2025 QUARTERLY REPORT

3

06

Featured Neighborhoods Brentwood Santa Monica Venice Pacific Palisades Malibu Mar Vista Westwood Beverly Hills Cheviot Hills

26

Stats on Stack Q1 2025 $205,057,466 in YTD sales volume. Check out our epic stats on stack.

TABLE OF CONTENTS

28

Rebuilding, Selling & What Comes Next Demand for prime lots in the Palisades is on the rise.

2025 QUARTERLY REPORT

38

Tacos & Tequila Real estate trends, L.A. happenings, tacos, tequila and all sorts of great stuff — on the blog now.

42

Honors & Highlights SBP wins big.

5

MALIBU

BRENTWOOD

$5.42M 25

$7.14M 66

PACIFIC PALISADES

$3.62M 17

SANTA MONICA

Q1 2025

YOU’VE SEEN US IN THE NEIGHBORHOOD Q1 Average Sales Price

Total Number of Sales in Q1

$4.98M 74

VENICE

$2.94M 59

M

BEVERLY HILLS

$7.28M 75 WESTWOOD

$5.11M 39 CHEVIOT HILLS

$4.19M 14

MAR VISTA

$2.47M 82 #WHEREDOYOUWANTTOLIVENEXT

BRENTWOOD Brentwood offers high-style boutiques and trendy restaurants that are balanced by secluded and often palatial houses in the foothills of the Santa Monica Mountains. Providing the ultimate refuge for residents while maintaining a distinct presence in greater Los Angeles culture, Brentwood is notable for The Getty, historic Brentwood Country Mart and hotspot-lined San Vicente Boulevard.

BEST CUP OF JOE Amandine

8

BEST GRUB Jon & Vinny’s

BEST BAR Baltaire

2025 QUARTERLY REPORT

FIRST QUARTER 2025 BRENTWOOD MARKET AVERAGE SALES PRICE JAN - MAR 2025

$7,146,758 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,525

$2,042

59

66

$22,907,500

$30,906,000

FEATURED HOME

FOR SALE

11968 Brentridge Drive, Brentwood

$40,00,000 8 BD | 11 BA | 12,587 SF

VIEW HOME

2025 QUARTERLY REPORT

9

SANTA MONICA Brimming with beautiful homes, bustling beaches, upscale shopping and plenty of fine dining, Santa Monica is among the most iconic shoreside cities in Los Angeles. From the landmark Santa Monica Pier to the Third Street Promenade, the coastal metropolis offers every modern necessity just moments from its quaint tree-lined residential streets.

BEST CUP OF JOE Primo Passo

10

BEST GRUB Xuntos

BEST BAR No No Bar

2025 QUARTERLY REPORT

FIRST QUARTER 2025 SANTA MONICA MARKET AVERAGE SALES PRICE JAN - MAR 2025

$4,989,047 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,705

$1,656

72

74

$10,715,000

$14,550,000

FEATURED HOME

SOLD

628 25th Street, Santa Monica

$14,550,000 (Highest Q1 Sale in Santa Monica) 6 BD | 9 BA | 7,692 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

11

VENICE Known for its hip style and laid-back culture, Venice is among the city’s hottest neighborhoods. Homes here are predominantly modern while quaint walk streets are woven with chic beach bungalows.

Residents enjoy the neighborhood’s popular selection of restaurants and shops along Abbot Kinney, Rose, and Pacific where hotspots like Gjelina and Ospi add an elevated touch to the casual beach scene. With a bustling boardwalk, beautiful homes and a trendy feel, locals prize Venice as one of the Westside’s most vibrant communities to live and work.

BEST CUP OF JOE Little Lunch

12

BEST GRUB RVR

BEST BAR Gran Blanco

2025 QUARTERLY REPORT

FIRST QUARTER 2025 VENICE MARKET AVERAGE SALES PRICE JAN - MAR 2025

$2,941,097 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,463

$1,737

57

59

$5,850,000

$8,250,000

FEATURED HOME

SOLD

1037 Victoria Avenue, Venice

$8,250,000 (Highest Q1 Sale in Venice) 3 BD | 5 BA | 4,177 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

13

PACIFIC PALISADES After the devastating fires of January 2025, Pacific Palisades is emerging as a community of hope and renewal. Rebuilding has begun. Please see our Featured Story on Page 28.

OPEN FOR BIZ Palisades Garden Cafe

14

2025 QUARTERLY REPORT

FIRST QUARTER 2025 PACIFIC PALISADES MARKET AVERAGE SALES PRICE JAN - MAR 2025

$3,620,765 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,754

$1,234

54

17

$20,659,090

$8,225,000

FEATURED HOME

FOR SALE

15219 Mc Kendree Avenue, Pacific Palisades

$4,349,000 HOMESITE | 9,125 SF LOT

VIEW HOME

2025 QUARTERLY REPORT

15

MALIBU Property clearances are bringing positivity to the rebuilding process in Malibu, as residents remain eager to return home and restore this serene and stunning coastal community. After the challenges brought on by recent fires, the sense of renewal is strong, and signs of progress are beginning to emerge across the landscape. Malibu remains one of Los Angeles’ most coveted seaside enclaves—serene, sun-soaked, and steeped in natural beauty. The iconic drive along Highway 1 reveals breathtaking oceanfront homes nestled against rugged cliffs and secluded coves.

BEST CUP OF JOE Saloon Coffee

16

BEST GRUB Zinqué

BEST BAR Nobu

2025 QUARTERLY REPORT

FIRST QUARTER 2025 MALIBU MARKET AVERAGE SALES PRICE JAN - MAR 2025

$5,423,040 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$2,081

$1,907

40

25

29,000,000

$14,500,000

FEATURED HOME

FOR LEASE

3415 Sweetwater Mesa Road, Malibu

$175,000/month 5 BD | 9 BA | 6,533 SF

VIEW HOME

2025 QUARTERLY REPORT

17

MAR VISTA Mar Vista charms with its blend of suburban tranquility and urban convenience on LA’s Westside. This family-friendly enclave boasts tree-lined streets of mid-century homes, while Venice Boulevard hums with local eateries and boutique stores. The weekend farmers market draws crowds with fresh produce and crafted goods, embodying the area’s community spirit. With top-notch schools, lush parks, and easy access to both beaches and downtown, Mar Vista provides an idyllic slice of Los Angeles living.

BEST CUP OF JOE Kind Grounds

18

BEST GRUB Little Fatty

BEST BAR Accomplice

2025 QUARTERLY REPORT

FIRST QUARTER 2025 MAR VISTA MARKET AVERAGE SALES PRICE JAN - MAR 2025

$2,479,366 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,422

$1,498

102

82

$6,600,00

$5,850,000

FEATURED HOME

SOLD

3252 Granville Avenue, Mar Vista

$4,480,000 (Off Market Sale) 5 BD | 5 BA | 4,251 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

19

WESTWOOD Westwood has upscale residential and commercial vibes, best known for being home to UCLA, The Hammer Museum, and the family-friendly Westwood Village. The neighborhood attracts a diverse crowd of residents, from out-of-towners to entertainment professionals and celebs. On a typical day, expect to see students studying at Espresso Profeta and locals eating at Fundamental LA or, more often than not, heading to red carpet events.

BEST CUP OF JOE Sipp Coffee House

20

BEST GRUB Wolfsglen

BEST BAR Tiny’s Hi-Dive

2025 QUARTERLY REPORT

FIRST QUARTER 2025 WESTWOOD MARKET AVERAGE SALES PRICE JAN - MAR 2025

$4,145,946 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,576

$1,507

18

37

$4,040,000

$14,725,000

FEATURED HOME

SOLD

10655 Rochester Avenue, Westwood

$5,149,500 5 BD | 6 BA | 4,812 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

21

BEVERLY HILLS With a reputation as the “it” place for Hollywood celebrities and high-profile residents, Beverly Hills is one of the most sought after places for quiet luxury living. North Beverly Park boasts lush, sprawling estates like Trousdale and Gateway overlooking Greater L.A., while modern upscale eateries and designer boutiques can be found minutes away on Rodeo Drive. Locals, however, will find that the neighborhood’s real charm lies in its tranquil, easy-going community.

BEST CUP OF JOE Aharon

22

BEST GRUB Funke

BEST BAR Dante

2025 QUARTERLY REPORT

FIRST QUARTER 2025 BEVERLY HILLS MARKET AVERAGE SALES PRICE JAN - MAR 2025

$7,286,654 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,721

$1,644

86

75

$44,000,000

$27,000,000

FEATURED HOME

SOLD

2275 Betty Lane, Beverly Hills

$2,760,000 (Represented Buyer) 3 BD | 3 BA | 2,490 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

23

CHEVIOT HILLS Cheviot Hills combines timeless charm with a tranquil, residential vibe. Known for its pristine parks, classic architecture, and a tight-knit community, this neighborhood offers a peaceful retreat without sacrificing city access. It’s a favorite among families, golf enthusiasts, and those drawn to its understated elegance. On a typical day, you might spot neighbors chatting on leisurely walks, enjoying brunch at John O’Groats, or practicing their swing at Rancho Park Golf Course.

BEST CUP OF JOE Eyes Peeled

24

BEST GRUB Vicini

BEST BAR Sorry Not Sorry

2025 QUARTERLY REPORT

FIRST QUARTER 2025 CHEVIOT HILLS MARKET AVERAGE SALES PRICE JAN - MAR 2025

$4,195,714 OCT - DEC 2024

AVERAGE PRICE PER SQUARE FOOT TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

JAN - MAR 2025

$1,444

$1,429

6

14

$7,100,000

$8,300,000

FEATURED HOME

SOLD

3077 Earlmar Drive, Cheviot Hills

$8,300,000 (Highest Q1 Sale in Cheviot Hills) 6 BD | 8 BA | 6,540 SF

VIEW MORE HOMES

2025 QUARTERLY REPORT

25

2025 Q1

Stats on Stack

$205,057,466

26

103.67%

FAVORITE MARCH MADNESS MOMENT Watching the incredible athletes of the NCAA Women's Basketball, from beginning to end.

2025 QUARTERLY REPORT

FAVORITE NEW BRENTWOOD LUNCH SPOT Tu Madre 27

The Future of Land Sales in Pacific Palisades REBUILDING, SELLING & WHAT COMES NEXT

In the wake of January’s catastrophic fires that swept through Pacific Palisades, homeowners are now in the position of navigating the path forward in a market defined by both devastating loss and future opportunity.

As plans to rebuild and renew the community begin, with the first home already under construction, demand for prime lots is on the rise.

Smith & Berg Property Group has been on the front lines of these conversations — most recently featured in The New York Times for their insight on the post-fire real estate landscape in Pacific Palisades. With expert advice and a sincere desire to be of service to our clients and friends in this incredible city, F. Ron Smith and David Berg are helping homeowners weigh their options with clarity and compassion.

28

2025 QUARTERLY REPORT

2025 QUARTERLY REPORT

29

30

2025 QUARTERLY REPORT

MARKET OVERVIEW:

Post-Fire Land Sales in Pacific Palisades

158

19

14

ACTI VE L IST INGS

IN E SC R OW

SOL D IN Q1 2 02 5

$2,779,130 AVER AGE SA L E PR IC E

$5,900,000 H IGHE ST SA L E PR IC E

$575,000 LOW E ST SA L E PR IC E

* Stats information from CLAW / The MLS, compiled on 04/15/25.

2025 QUARTERLY REPORT

31

A MARKET IN TRANSITION:

Why Selling Now May Make Sense The fires’ aftermath has created an unprecedented real estate environment, where property owners must carefully weigh their options.

“Many homeowners are facing difficult

David Berg added, “We’re seeing strong

decisions,” F. Ron Smith told The New York

interest from buyers looking for a fresh start —

Times. “Some are eager to rebuild, while

whether it’s developers, end-users, or investors

others see an opportunity to sell and move

who recognize the long-term potential of a new

on. The key is understanding the demand

Pacific Palisades. With limited inventory and a

dynamics in the market.”

prime location, land values remain strong.”

32

2025 QUARTERLY REPORT

“Some are eager to rebuild, while others see an opportunity to sell and move on. The key is understanding the demand dynamics in the market.”

2025 QUARTERLY REPORT

33

34

2025 QUARTERLY REPORT

The New Reality for Landowners For those on the fence about selling, there are several key factors to consider:

The Reality of Rebuilding: Permits, construction costs, and insurance hurdles can make rebuilding a complex and lengthy process.

Buyer Demand: There’s a unique window of opportunity to attract motivated buyers.

Market Uncertainty: While property values remain stable, economic conditions, rebuilding timelines, and future regulations could shift the landscape.

2025 QUARTERLY REPORT

35

THE EXPERTS WEIGH IN:

F. Ron & David in The New York Times Have you seen shifts in buyer sentiment following the fire?

F. Ron Smith: Westside Buyers are considering the realities of climate-related risks more than ever before, with an increased interest in properties with modern, reinforced construction that meets or exceeds Wildland-Urban Interface (WUI) area standards.

Pacific Palisades has always been a sought-after enclave, and while some buyers may hesitate momentarily, the long-term desirability of the area remains unchanged.

How are lot prices being determined?

David Berg: Lot prices are primarily determined by a combination of factors including location, size, and views (if applicable). Additional variables, such as the inclusion of relevant architectural plans, environmental clean-up status, and the availability of key surveys or reports, also play a role. As more lots are sold or put under contract, the market sees more comparables, which will help standardize pricing over time.

Is there a risk in waiting to sell?

F. Ron Smith: The market is strong now, but factors like rising construction costs and potential changes in regulations could impact land values down the line. If selling is on your mind, now is the time to explore your options.

With a new Pacific Palisades on the horizon, the market for prime property is dynamic. Whether rebuilding or selling, property owners should stay informed and work with experienced advisors to position themselves for the best possible outcome.

36

2025 QUARTERLY REPORT

For expert rebuilding guidance and exclusive land listings visit: landinthepalisades.com

2025 QUARTERLY REPORT

37

Tacos & Tequila When the Smith & Berg Property Group team combines tacos and tequila (collectively our two favorite things) there’s an outpour of ideas both prolific and nonsensical. This is where the blog comes in. Here, you can read up on what’s catching our interest as of late—whether that be epic new developments in L.A. or the best sushi spots in town—and hop on the cultfavorite Tacos & Tequila train.

To read full stories visit: tacosandtequila.com 38

2025 QUARTERLY REPORT

JANUARY SBP PREDICTS THE TOP HOME TRENDS OF 2025 — AND WHAT WILL STAY IN 2024 01.04.25 Gaze into our crystal ball.

To read the full story, visit here.

SBP GUIDE: TOOLS FOR WILDFIRE RECOVERY & PREPAREDNESS 01.17.25 Stay safe, stay strong.

To read the full story, visit here.

SBP GUIDE: HOW TO PRACTICE SELF-CARE IN LA RIGHT NOW 01.24.25 Show yourself some love.

To read the full story, visit here.

SUPER BOWL SUNDAY IN LA: WHERE TO EAT, WATCH (AND ESCAPE) THE GAME 01.31.25 Ready, set, watch.

To read the full story, visit here.

2025 QUARTERLY REPORT

39

FEBRUARY VALENTINE’S INSPIRATION: UNIQUE WAYS TO SPEND THE DAY OF LOVE IN LA 02.07.25 We love LA. To read the full story, visit here.

RECORD-BREAKING YEAR IN REVIEW: SBP’S Q4 2024 MARKET REPORT 02.14.25 Another one in the books.

To read the full story, visit here.

SBP GUIDE: HOW TO CURATE YOUR HOME LIKE AN INTERIOR DESIGNER 02.21.25 Transform your space…without a design degree.

To read the full story, visit here.

IT’S OSCAR NIGHT: WILL YOU FAVORITES TAKE HOME THE GOLD? 02.28.25 And the Oscar goes to…

To read the full story, visit here.

40

2025 QUARTERLY REPORT

MARCH SBP NEIGHBORHOOD SPOTLIGHT: SANTA MONICA 03.07.25 Insider’s guide to SM. To read the full story, visit here.

SBP GUIDE: HOW TO CELEBRATE MARATHON WEEKEND & ST. PADDY’S IN LA 03.14.25 Sip, sprint, celebrate.

To read the full story, visit here.

CREATE A PERFECT SPRING DAY IN LA 03.21.25 The ultimate itinerary.

To read the full story, visit here.

10 LIFE LESSONS FROM GEORGE FOREMAN: A CHAMPION’S JOURNEY OF RESILIENCE & REINVENTION 03.28.25 Legends Never Day To read the full story, visit here.

2025 QUARTERLY REPORT

41

2025 Honors & Highlights Wall Street Journal (Real Trends Verified) #1 Team on LA’s Westside / #10 in the Nation 2024, 2023 Variety Magazine Showbiz Real Estate Elite 2024, 2023 Los Angeles Business Journal The List: Top 100 Residential Real Estate Agents 2025, 2024, 2023...

Los Angeles Magazine’s Real Estate All-Star Team 2025, 2024, 2023...

Hollywood Reporter Top Real Estate Agents 2024, 2023, 2022 Los Angeles Business Journal Leaders of Influence: F. Ron Smith & David Berg 2024, 2023, 2022 The Real Deal’s Top 20 Residential Brokers 2024, 2023, 2022 Compass Top 1% of Compass

ICYMI Los Angeles Times Fire victims compete to find new homes as real estate market rages in Pacific Palisades, Altadena

READ MORE >

Fox Business LA wildfires drive surge in rental housing prices, prompting price gouging concerns

READ MORE >

Robb Report This $40 Million L.A. Mansion Has a Funicular and a Hillside Glamping Spot

READ MORE >

Dwell Lavish Ken Ungar-Designed Estate in Brentwood Lists for $29.9M

READ MORE >

Meet Our Team

F. RON SMITH

DAVID BERG

ROBERT MORTON

SEWIT ESHETU

NATHAN STADLER

BRANDON SMITH

EDWARD HUTCHINSON

JORDAN KRAMER

COURTNEY WELSH

KRISTA MASELLA

KATY YAMBAO

GARRETT SANDERS

Phone

Social

310.500.3931

@smithandberg

Website

Email

smithandberg.com

team@smithandberg.com

2025 QUARTERLY REPORT

NATALIE GUREVITCH

A leading Westside team at

43

DISCOVER MORE: SMITHANDBERG.COM

S M I T H & B E R G P R O P E R T Y G R O U P, C O M PA S S 310.500.3931 | TEAM@SMITHANDBERG.COM 1 1 7 4 0 S A N V I C E N T E B LV D , S U I T E 2 0 3 , L O S A N G E L E S , C A 9 0 0 4 9 9 4 5 4 W I L S H I R E B LV D , S U I T E 1 0 0 , B E V E R LY H I L L S , C A 9 0 2 1 2 CA DRE# 01991628, 01481236

A leading Westside team at