SBP Q4 2024 Report by TeamWicked

QUARTERLY LOS ANGELES REAL ESTATE MARKET REPORT

F. Ron Smith & David Berg

Q4 2024

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

BRANDON SMITH

KATY YAMBAO

SEWIT ESHETU

COURTNEY WELSH

ROBERT MORTON

JORDAN KRAMER

NATHAN STADLER

KRISTA MASELLA

EDWARD HUTCHINSON

NATALIE GUREVITCH

KRISTIN ALEXANDER

GARRETT SANDERS

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

SMITH & BERG PROPERTY GROUP, COMPASS

310.500.3931 | TEAM@SMITHANDBERG.COM 11740 SAN VICENTE BLVD, SUITE 203, LOS ANGELES, CA 90049 9454 WILSHIRE BLVD, SUITE 100, BEVERLY HILLS, CA 90212 CA DRE# 01991628, 01481236

Featured Neighborhoods

Brentwood

Santa Monica

Venice

Malibu

Mar Vista

Westwood

Cheviot Hills

Beverly Hills

West Hollywood

Hancock Park

F. Ron & David Talk Strategy for Max Value

Get the most of your listing.

Stats on Stack Q4 2024

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

36 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.

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

BEST GRUB Baltaire

BEST BAR Bar Toscana

$4,697,593

TOTAL NUMBER OF SALES HIGHEST SALE AMOUNT

ESCROW 13209 Dobbins Place, Brentwood $11,775,000

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

BEST GRUB Burgette

BEST BAR Vamos Vamos

$3,702,069 $1,705 72 $10,715,000

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

BEST GRUB Si! Mon

BEST BAR Market

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 GRUB Broad Street Oyster

BEST BAR Calamigos Beach Club

BEST CUP OF JOE Caffe Luxxe

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 GRUB Taverna

BEST BAR Accomplice

BEST CUP OF JOE Coffee Connection

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

BEST GRUB Violet Bistro

BEST BAR Double Take

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

BEST GRUB Vicini

BEST BAR The Stalking Horse

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

BEST GRUB Sushi Note Omakase

BEST BAR The Maybourne Bar

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

BEST GRUB Chez Mia

BEST BAR Tower Bar

FEATURED HOME

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

BEST GRUB Republique

BEST BAR The Little Bar

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.

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

F. Ron: It starts with understanding the market at both a macro and micro level. We study the trends but also rely on decades of experience. Pricing isn’t just about where the market is today — it’s about where we think it’s headed. This year, for example, we priced 321 21st Street strategically to drive multiple offers. The property sold in just five days, well above asking, and even avoided Measure GS taxes — a win-win for the seller.

David: A well-crafted pricing strategy not only attracts attention but creates a sense of urgency. At 627 Euclid, we generated multiple offers within a week and closed escrow at 120% of the list price — more than a million dollars above asking. That’s the power of a strategy that balances market intelligence with tailored marketing efforts.

“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.”

-BRENTWOOD DEVELOPER

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.”

-HANCOCK PARK SELLER

2024 Q4

2024 SALES VOLUME (PENDING & CLOSED)

$467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 $467,317,350 108 108 108 108 108 108 108 108 108 108 108 108

$84,477,400

$4,407,205 HOMES CLOSED IN 2024 PYREX CONTAINERS & A PARACHUTE ROBE TOP RATED GIFTS AT THE WHITE ELEPHANT PARTY Q4 2024 TOTAL SALES

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