Smith & Berg | Q2 2024 Report by TeamWicked

QUARTERLY LOS ANGELES REAL ESTATE MARKET REPORT

F. Ron Smith & David Berg

Q2 2024

STATS ON STACK Q2 2024 A look at SBP’s success RECORD-BREAKING SALE ON EUCLID See the SBP approach 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

KRISTIN ALEXANDER RYAN BERGUM

GARRETT SANDERS

PARISA SCHNIDER

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.

SECOND QUARTER 2024 BRENTWOOD MARKET

SALES PRICE

TOTAL NUMBER OF SALES

$4,830,763

HIGHEST SALE AMOUNT

FEATURED HOME

Caffe Luxxe

Jemma di Mare

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.

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.

FEATURED HOME

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.

Aharon

Sushi Note

Tom Tom

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.

$4,042,300

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 SALES PRICE

AVERAGE PRICE PER SQUARE FOOT

TOTAL NUMBER OF SALES

$2,206,685

HIGHEST SALE AMOUNT

FEATURED HOME

With SBP’s expert representation, the property attracted multiple offers and sold for $435,000 above the list price in just 7 days.

MAR VISTA

Nestled on the Westside of Los Angeles, Mar Vista offers a perfect blend of family-friendly charm and modern amenities. Its tree-lined streets and mid-century homes create a welcoming community vibe. Residents enjoy local eateries, artisanal coffee shops, and boutique stores along Venice Boulevard and Grand View. The Mar Vista Farmers Market, a weekend staple, is beloved for its fresh produce and artisanal goods. With excellent schools, lush parks, and easy access to the beach and downtown, Mar Vista is a desirable and convenient place to live.

Photo: Goop.com

THE SBP APPROACH: A Record-Breaking Sale on Euclid Street

Smith & Berg Partners recently orchestrated a feat that has the LA real estate market buzzing. The star of the show? A charming Santa Monica home at 627 Euclid Street, which became the stage for an impressive sale that showcases SBP’s expertise in the luxury real estate market.

This beautifully appointed property in the coveted North of Montana neighborhood hit the market with a strategy designed to turn heads. Within days, a flurry of offers poured in, resulting in a closed escrow at a whopping 120% of the listing price. The final sale price soared $1,045,005 over asking, achieving a record-breaking $2,460 per square foot. This record-breaking transaction comfortably secured its place among the top three sales of the year in the area.

What set this sale apart wasn’t luck — it was a testament to SBP’s deep market insight and strategic approach. The team merged their understanding of the area with expert negotiation skills to navigate this transaction from beginning to end, all while guiding their sellers through the off-market purchase of their next home.

This glowing review from the seller paints a picture of the SBP team process, highlighting their white-glove, concierge-style service, consummate professionalism, and enthusiastic positivity:

“If you are contemplating buying or selling anywhere on the Westside of LA, I wouldn’t consider any other brokers. They are honest, capable, work incredibly hard and will deliver unbelievable results. Their entire team and staff are A+ professionals. We could not have been happier. More importantly, they are fun and great people. As stressful as the process is, they made us feel at ease during even the toughest moment. Incredible people!”

This Euclid Street success story exemplifies SBP’s ability to maximize value in a dynamic market.

This Euclid Street success story exemplifies SBP’s ability to maximize value in a dynamic market. Their approach combines expert pricing strategy, targeted marketing, and skillful negotiation, ensuring a seamless experience for clients — whether selling their current home or transitioning into their next dream property.

In a field where the bar is set high, Smith & Berg Partners continues to aim for the stars, fostering long-term relationships along the way (which often leads to multiple transactions with the same clients).

Ready for your own property adventure with a team that can deliver exceptional results? Get in touch with Smith & Berg Partners at team@smithandberg.com today.

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