SBP Q1 Real Estate Market Report

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QUARTERLY

David Berg & F. Ron Smith

STATS ON STACK Q1 2024 A look at SBP’s success ULTIMATE LA TACO MAP SBP-vetted tacos joints TACOS & TEQUILA Highlights from real estate’s top digital magazine HONORS & HIGHLIGHTS Gold stars all around

ROBERT MORTON
EDWARD HUTCHINSON
BRANDON SMITH
KATY YAMBAO
NATHAN STADLER
KRISTA MASELLA
SEWIT ESHETU
COURTNEY WELSH
PARISA SCHNIDER RYAN BERGUM
GARRETT SANDERS
KRISTIN ALEXANDER
NATALIE GUREVITCH

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.

AVERAGE PRICE PER SQUARE FOOT

HIGHEST SALE AMOUNT AVERAGE SALES PRICE

$5,568,602

TOTAL NUMBER OF SALES

FEATURED HOME

BEST CUP OF JOE Farmshop
GRUB Baltaire
BAR Bar Toscana

PACIFIC PALISADES

Pacific Palisades is among the most polished, highbrow residential areas in Los Angeles with extravagant homes, spectacular ocean views and incredible hiking trails. Here, find the new Palisades Village, a highly curated collection of stylish boutiques and specialty shops, as well as several local joints that exude authentic small-town charm.

FIRST QUARTER 2024 PACIFIC PALISADES MARKET

AVERAGE SALES PRICE JAN - MAR 2024

$4,624,195

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT

FEATURED HOME

BEST CUP OF JOE Caffe Luxxe
GRUB Angelini
BAR The Draycott

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.

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT AVERAGE SALES PRICE JAN - MAR 2024 FIRST QUARTER 2024 SANTA MONICA MARKET

$4,095,486

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.

FIRST QUARTER 2024 BEVERLY HILLS MARKET

AVERAGE SALES PRICE JAN - MAR 2024

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT

$8,035,500

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.

AVERAGE PRICE PER SQUARE FOOT

HIGHEST SALE AMOUNT AVERAGE SALES PRICE

$2,466,835

TOTAL NUMBER OF SALES

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.

AVERAGE PRICE PER SQUARE FOOT

HIGHEST SALE AMOUNT AVERAGE SALES PRICE JAN - MAR 2024

$2,618,050

TOTAL NUMBER OF SALES

FEATURED HOME

Sold for 99% of list price after just 8 days on market.

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.

AVERAGE SALES PRICE JAN - MAR 2024 FIRST QUARTER 2024 HANCOCK PARK MARKET

$2,694,060

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT

FEATURED

HOLLYWOOD HILLS

Tucked into the eastern Santa Monica Mountains, the Hollywood Hills offers a luxurious lifestyle with picturesque views, secluded estates, and opulent homes — from Mediterranean villas to mid-century retreats amidst lush landscapes. The iconic Hollywood sign overlooks the city below, while Hollywood Boulevard provides dining and entertainment. Winding roads through Runyon and Bronson Canyons beckon outdoor enthusiasts. Gated properties, private security, and a removed location ensure tranquility and low crime rates in this exclusive, scenic neighborhood.

AVERAGE SALES PRICE JAN - MAR 2024 FIRST QUARTER 2024 HOLLYWOOD HILLS MARKET

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT

FEATURED HOME

$3,182,005

WOODLAND HILLS

Nestled in the western San Fernando Valley, Woodland Hills is a tranquil, family-friendly suburb. Treelined streets house cozy bungalows to sprawling estates. The Village at Westfield Topanga offers upscale shopping, dining, and entertainment. Numerous parks and hiking trails, including Upper Las Virgenes Canyon Open Space Preserve, provide outdoor recreation. With proximity to the Santa Monica Mountains and easy freeway access, Woodland Hills balances natural beauty and urban convenience. Excellent schools and low crime rates make it an attractive family community in the Valley.

AVERAGE SALES PRICE JAN - MAR 2024 FIRST QUARTER 2024 WOODLAND HILLS MARKET

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

HIGHEST SALE AMOUNT

$1,448,841

As longtime (self-proclaimed) taco connoisseurs, the SBP team knows where to find the very best in LA. That’s why we’re excited to announce www.sbptacomap.com, the ultimate guide to epic taco hotspots across the entire city, spotlighting our team’s go-to orders at each locale. Trust us, we did extensive, first-hand research, so all you have to do is GO. Use our trusty map and head out soon to discover all the SBP-certified taquerias one could ever want (you can thank us later).

Tacos & Tequila

When the Smith & Berg Partners 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

JANUARY

To

Tacos

To

SBP

To

In

The

Real Trends & Wall Street Journal’s #1 Team on LA’s Westside / #10 in the Nation 2023

Variety Magazine Showbiz Real Estate Elite 2024, 2023

Los Angeles Business Journal The List: Top 100 Residential Real Estate Agents 2024, 2023

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

Hollywood Reporter Top 35 Real Estate Agents 2023, 2022

Los Angeles Business Journal Leaders of Influence: F. Ron Smith & David Berg 2023, 2022

The Real Deal’s Top 20 Residential Brokers 2023, 2022

Top 10 Team of 29,000 Compass Agents Nationwide

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SBP Q1 Real Estate Market Report by TeamWicked - Issuu