SBP Q4 2024 Report

QUARTERLY LOS ANGELES REAL ESTATE MARKET REPORT

Q4 2024

F. Ron Smith & David Berg

STATS ON STACK Q4 A look at SBP’s success for Q4 2024 PRICING STRATEGIES TO MAXIMIZE VALUE Hear it from the experts TACOS & TEQUILA Highlights from real estate’s top digital magazine HONORS & HIGHLIGHTS Gold stars all around

ROBERT MORTON

SEWIT ESHETU

NATHAN STADLER

BRANDON SMITH

KRISTIN ALEXANDER

EDWARD HUTCHINSON

JORDAN KRAMER

COURTNEY WELSH

KRISTA MASELLA

KATY YAMBAO

GARRETT SANDERS

NATALIE GUREVITCH

FEBRUARY 2025

To Our Clients and Friends, The lives of Angelenos profoundly changed on January 7th. Reflecting on the last five weeks, we want to first express our gratitude. Gratitude for the brave and heroic First Responders, to our clients and friends who even in their own deep grief and pain, showed everyone around them caring words and gestures of encouragement. To countless communities of support- at schools, places of worship, store fronts, colleges, office spaces and more-who provided endless donations of clothing, food, toiletries and toys to so many people, including those who literally had only the clothes on their backs. We have witnessed the compassion of real angels around us, in this, the City of Angels. Almost everyone of us at Smith & Berg are native Angelenos. We live in, work in, and love LA. We are committed to continuing our mission to be an informed and supportive resource to all who need us- including our clients, friends and families, and to all who may need guidance. Please reach out to us at team@smithandberg.com for immediate assistance.

Our Q4 Report, representing the final quarter of 2024, follows here.

As always, we are dedicated to bringing you the latest in all things real estate, via our celebrated weekly blog Tacos & Tequila — and to continually share our market updates, so that you are well informed. We do so with accuracy, and often a dose of humor, which may provide a moment of relief during stressful times. SBP is forever grateful to live in this resilient city we call home.

We invite you to read SBP’s Market Update for Q4, with helpful real estate info and insights into what continues to make Los Angeles such an incredible place to live and work –– from dining, shopping and local events to some extraordinary experiences. Be sure to sign up at tacosandtequila.com so you don’t miss a thing.

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 Q4, SBP closed 24 transactions, with $84,477,400 in sales volume, with $467,317,350 in total sales volume for 2024. 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,

F. Ron Smith

David Berg

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

2024 QUARTERLY REPORT

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Featured Neighborhoods Brentwood Santa Monica Venice ​Malibu Mar Vista Westwood Cheviot Hills Beverly Hills West Hollywood Hancock Park

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F. Ron & David Talk Strategy for Max Value Get the most of your listing.

TABLE OF CONTENTS

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Stats on Stack Q4 2024 $467,317,350 in YTD sales volume. Check out our epic stats on stack.

2024 QUARTERLY REPORT

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

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Honors & Highlights SBP wins big.

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MALIBU

BRENTWOOD

$5.66M 40

$4.69M 59

SANTA MONICA

Q4 2024

YOU’VE SEEN US IN THE NEIGHBORHOOD Q4 Average Sales Price

Total Number of Sales in Q4

$3.70M 72

VENICE

$2.54M 57

M

WEST HOLLYWOOD BEVERLY HILLS

$7.87M 86

$1.87M 18

HANCOCK PARK $3.52M 18

WESTWOOD

$2.26M 18 CHEVIOT HILLS

$4.22M 6

MAR VISTA

$2.27M 102 #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 Caffe Luxxe

8

BEST GRUB Baltaire

BEST BAR Bar Toscana

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 BRENTWOOD MARKET AVERAGE SALES PRICE OCT - DEC 2024

$4,697,593 JUL - SEP 2024

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

OCT - DEC 2024

$1,711

$1,525

41

59

$20,500,000

$22,907,500

FEATURED HOME

IN ESCROW

13209 Dobbins Place, Brentwood

$11,775,000 6BD | 8BA | 9,139 SF

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2024 QUARTERLY REPORT

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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 10 Speed

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BEST GRUB Burgette

BEST BAR Vamos Vamos

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 SANTA MONICA MARKET AVERAGE SALES PRICE OCT - DEC 2024

$3,702,069 JUL - SEP 2024

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

OCT - DEC 2024

$1,870

$1,705

47

72

$11,000,000

$10,715,000

FEATURED HOME

IN ESCROW

926 Centinela Avenue, Santa Monica

$7,398,000 4BD | 7BA | 6,213 SF

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2024 QUARTERLY REPORT

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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 Intelligentsia

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BEST GRUB Si! Mon

BEST BAR Market

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 VENICE MARKET AVERAGE SALES PRICE OCT - DEC 2024

$2,549,912 JUL - SEP 2024

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

OCT - DEC 2024

$1,584

$1,463

47

57

$6,175,000

$5,850,000

FEATURED HOME

IN ESCROW

1037 Victoria Avenue, Venice

$8,495,000 3BD | 5BA | 4,177 SF

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2024 QUARTERLY REPORT

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MALIBU Serene and sun-soaked, Malibu is undoubtedly Los Angeles’ most coveted seaside retreat. Via a dreamlike route along Highway 1, Angelenos get a front row seat to the pristine coastline and remarkable oceanfront homes that maintain a distinct sense of privacy. Here, jagged cliffs, secluded coves and the city’s most exclusive residential neighborhoods draw celebrities, entertainment industry tycoons, sun-seeking daytrippers and surfers to experience its stunning shores.

BEST CUP OF JOE Caffe Luxxe

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BEST GRUB Broad Street Oyster

BEST BAR Calamigos Beach Club

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 MALIBU MARKET AVERAGE SALES PRICE OCT - DEC 2024

$5,668,115 JUL - SEP 2024

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

OCT - DEC 2024

$2,423

$2,081

51

40

$61,000,000

29,000,000

FEATURED HOME

FOR LEASE

3415 Sweetwater Mesa Road, Malibu

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

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2024 QUARTERLY REPORT

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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 Coffee Connection

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BEST GRUB Taverna

BEST BAR Accomplice

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 MAR VISTA MARKET AVERAGE SALES PRICE OCT - DEC 2024

$2,270,446 JUL - SEP 2024

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

OCT - DEC 2024

$1,367

$1,422

58

102

$4,615,000

$6,600,00

FEATURED HOME

SOLD

3252 Granville Avenue, Mar Vista

$4,480,000 5BD | 5BA | 4,251 SF

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2024 QUARTERLY REPORT

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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 Espresso Profeta

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BEST GRUB Violet Bistro

BEST BAR Double Take

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 WESTWOOD MARKET AVERAGE SALES PRICE OCT - DEC 2024

$2,263,556 JUL - SEP 2024

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

OCT - DEC 2024

$1,338

$1,576

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18

$18,350,000

$4,040,000

FEATURED HOME

SOLD

1901 Thayer Avenue, Westwood

$3,995,000 4BD | 5BA | 3,677 SF

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2024 QUARTERLY REPORT

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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 John O’Groats

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BEST GRUB Vicini

BEST BAR The Stalking Horse

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 CHEVIOT HILLS MARKET AVERAGE SALES PRICE OCT - DEC 2024

$4,227,500 JUL - SEP 2024

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

OCT - DEC 2024

$1,176

$1,444

5

6

$3,700,000

$7,100,000

FEATURED HOME

IN ESCROW

3077 Earlmar Drive, Cheviot Hills

$7,498,000 6BD | 8BA | 6,540 SF

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2024 QUARTERLY REPORT

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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 Maru Espresso Bar

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BEST GRUB Sushi Note Omakase

BEST BAR The Maybourne Bar

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 BEVERLY HILLS MARKET AVERAGE SALES PRICE OCT - DEC 2024

$7,876,899 JUL - SEP 2024

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

OCT - DEC 2024

$1,372

$1,721

74

86

$27,300,000

$44,000,000

FEATURED HOME

SOLD

2275 Betty Lane, Beverly Hills

$2,760,000 3BD | 3BA | 2,490 SF

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2024 QUARTERLY REPORT

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WEST HOLLYWOOD West Hollywood packs a punch in its compact size, offering a vibrant mix of glamor and counterculture.

Known for world-famous nightlife on the Sunset Strip, trendy shopping on Melrose, and a thriving LGBTQ+ scene, WeHo embodies LA’s creative spirit. This energetic city balances celebrity hotspots and design districts with quiet residential areas, making it a unique blend of excitement and livability in the heart of Los Angeles.

BEST CUP OF JOE Dialog Cafe

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BEST GRUB Chez Mia

BEST BAR Tower Bar

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 WEST HOLLYWOOD MARKET AVERAGE SALES PRICE OCT - DEC 2024

$1,871,472 JUL - SEP 2024

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

OCT - DEC 2024

$1,288

$1,350

13

18

$3,726,000

$3,300,000

FEATURED HOME

SOLD

8788 Shoreham Drive, Unit 33, WeHo

$1,560,000 3BD | 3BA | 2,250 SF

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2024 QUARTERLY REPORT

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HANCOCK PARK Regarded as one of Los Angeles’ most prestigious areas, Hancock Park is known for its historic mansions and charming tree-lined streets. Homes built in the 1920s and 30s in styles like Tudor, Spanish Colonial, and Mediterranean Revival give the neighborhood an air of old Hollywood glamor.

The area also features the iconic L.A. Country Club and historic sites like the Getty House. With a central location, quiet streets and highly rated schools, Hancock Park remains a coveted place for families and professionals to reside.

BEST CUP OF JOE Go Get Em Tiger

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BEST GRUB Republique

BEST BAR The Little Bar

2024 QUARTERLY REPORT

FOURTH QUARTER 2024 HANCOCK PARK MARKET AVERAGE SALES PRICE OCT - DEC 2024

$3,524,995 JUL - SEP 2024

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

OCT - DEC 2024

$1,013

$1,133

18

18

$14,980,000

$9,100,000

FEATURED HOME

SOLD

62 Fremont Place, Hancock Park

$7,780,000 4BD | 6BA | 6,408 SF

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2024 QUARTERLY REPORT

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F. RON & DAVID TALK PRICING STRATEGY

Maximize Your Real Estate Value Wondering how to maximize your real estate value? Pricing strategy is certainly key, and includes reading the market, anticipating buyer behavior, and creating a narrative that drives demand. In this exclusive Q&A, Founding Partners F. Ron Smith and David Berg share the secrets behind their record-breaking results.

F O L L O W U S T O S T AY I N T H E L O O P @ S M I T H A N D B E R G

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How do you consistently achieve over-asking sales in such a competitive market?

F. Ron: It starts with understanding the market

David: A well-crafted pricing strategy not

at both a macro and micro level. We study the

only attracts attention but creates a sense of

trends but also rely on decades of experience.

urgency. At 627 Euclid, we generated multiple

Pricing isn’t just about where the market is

offers within a week and closed escrow at 120%

today — it’s about where we think it’s headed.

of the list price — more than a million dollars

This year, for example, we priced 321 21st

above asking. That’s the power of a strategy

Street strategically to drive multiple offers.

that balances market intelligence with tailored

The property sold in just five days, well above

marketing efforts.

asking, and even avoided Measure GS taxes — a win-win for the seller.

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2024 QUARTERLY REPORT

“F. Ron & David have an incredible pulse on the market, making their recommendations well thought out and supported by both qualitative and quantitative measures. They have a great read on market values as well as exceptional negotiating skills that help set them apart as top-tier real estate professionals.”

-BREN T WOOD D E V E LOPE R

2024 QUARTERLY REPORT

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What role does preparation and marketing play in your approach?

F. Ron: Preparation is everything. We work closely with our sellers to ensure their property shines, whether that’s staging, professional photography, or leveraging press coverage. For instance, 306 Georgina received widespread media attention with over 437 million impressions, from Mansion Global to Dwell, which helped us secure multiple offers in just three days and close $610,000 above asking.

David: And it’s not just about aesthetics.

We bring a team approach to every listing, ensuring seamless communication and execution. That’s something our clients always comment on — how supported they feel throughout the process.

Whether it’s closing $502,000 over asking at 711 Westgate or setting a record $1,214 per square foot at 62 Fremont, Smith & Berg Property Group consistently proves that a strategic approach to pricing can make all the difference. As F. Ron puts it: “When you trust the process and the expertise behind it, the results speak for themselves.”

“The team at Smith & Berg Property Group runs like a well-oiled machine.

They are highly efficient, organized, communicative, knowledgeable, and hardworking professionals who know how to execute in every way possible.

From start to finish, we felt like we were in good hands throughout the entire process of selling our beloved home of 18 years.”

- HA N COC K PA R K SE L L E R 32

2024 QUARTERLY REPORT

Need expert advice on pricing your home for maximum value?

Contact Smith & Berg Property Group to discuss how we can help you achieve extraordinary results.

2024 QUARTERLY REPORT

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2024 Q4

$467,317,350 2 0 2 4 SA L ES VO LU M E ( P E N D I N G & C LO S E D)

108 $84,477,400 Q4 2024

TOTAL SALES VOLUME

H O M E S C LO S E D IN 2024

$4,407,205 TOP RATED GIFTS AT THE WHITE ELEPHANT PARTY PYREX CONTAINERS & A PARACHUTE ROBE

2024 QUARTERLY REPORT

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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 cult-favorite Tacos & Tequila train.

To read full stories visit: tacosandtequila.com 36

2024 QUARTERLY REPORT

OCTOBER SBP GUIDE: 10 SHOWS WE’RE BINGING THIS FALL 10.04.24 Grab the popcorn.

To read the full story, visit here.

5 COZY FALL HOME DECOR IDEAS SURE TO INSPIRE 10.11.24 Go *fall* out.

To read the full story, visit here.

JUST IN! SBP’S Q3 REAL ESTATE MARKET REPORT 10.18.24 The Q3 lowdown.

To read the full story, visit here.

REAL ESTATE AGENTS GETTING SPOOKY: CHECK OUT OUR HALLOWEEN COSTUME CONTEST! 10.25.24 SBP gone spooky!

To read the full story, visit here.

2024 QUARTERLY REPORT

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NOVEMBER HOW THE 2024 ELECTION IMPACTS HOMEOWNERS IN LA 11.01.24 Everything you need to know.

To read the full story, visit here.

HISTORIC LA: A CENTURY OF LEGACY AT FREMONT PLACE 11.08.24 From Einstein to Muhammad Ali. To read the full story, visit here.

Photo: fremontplace.blogspot.com

WTF, YOU CAN’T SAY THAT AT THE HOLIDAY TABLE! PART IV 11.22.24 Think before you speak.

To read the full story, visit here.

6 EASY WAYS TO WINTER-PROOF YOUR HOME RIGHT NOW 11.29.24 Winter is coming!

To read the full story, visit here.

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2024 QUARTERLY REPORT

DECEMBER SHOP LOCAL: WESTSIDE FAVES FOR FESTIVE HOLIDAY SHOPPING 12.06.24 Support small biz.

Photo: @burrogoods

To read the full story, visit here.

PANTONE’S 2025 COLOR OF THE YEAR IS MOCHA MOUSSE — HERE’S HOW TO USE IT NOW 12.13.24 Get your mocha on.

To read the full story, visit here.

SBP GUIDE: 7 LA NYE EXPERIENCES TO RING IN 2025 12.21.24 Cheers to the new year!

Photo: @biltmore_nye

To read the full story, visit here.

SBP’S STANDOUT MOMENTS OF 2024 & GOALS FOR THE NEW YEAR 12.28.24 Looking back & ahead.

To read the full story, visit here.

2024 QUARTERLY REPORT

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2024 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 2024, 2023, 2022 Los Angeles Magazine’s Real Estate All-Star Team 2024, 2023, 2022 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 Top 1% of 29,000 Compass Agents Nationwide

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

READ MORE >

Haven Electric Bowery-Designed Venice Compound Hits the California Market For $8.495 Million

READ MORE >

Robb Report A 1920s Neoclassical Palazzo in L.A.’s Historic Fremont Place Lists for $7.5 Million

READ MORE >

Meet Our Team

F. RON SMITH

DAVID BERG

ROBERT MORTON

SEWIT ESHETU

NATHAN STADLER

BRANDON SMITH

KRISTIN ALEXANDER

EDWARD HUTCHINSON

JORDAN KRAMER

COURTNEY WELSH

KRISTA MASELLA

KATY YAMBAO

GARRETT SANDERS

NATALIE GUREVITCH

Phone

Social

310.500.3931

@smithandberg

Website

Email

smithandberg.com

team@smithandberg.com

2024 QUARTERLY REPORT

A leading Westside team at

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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