SBP Q3 Report 2023 by TeamWicked

Q U A R T E R LY L O S A N G E L E S R E A L E S TAT E M A R K E T R E P O R T

F. Ron Smith & David Berg

Q3 2023

STATS ON STACK Q3 2023 A look at SBP’s success HOLLYWOOD’S TIMELESS GEMS A living legend on S. Muirfield Road TACOS & TEQUILA Highlights from real estate’s top digital magazine HONORS & HIGHLIGHTS Gold stars all around

ROBERT MORTON

SEWIT ESHETU

NATHAN STADLER

BRANDON SMITH

PARISA SCHNIDER

RYAN BERGUM

EDWARD HUTCHINSON

COURTNEY WELSH

KRISTA MASELLA

KATY YAMBAO

GARRETT SANDERS

NATALIE GUREVITCH

It’s Fall, 2023 To Our Clients and Friends, Yes, FALL has officially begun. Although it may not (yet) be ‘crisp’ outside, it certainly feels much cooler than some of the scorchers we experienced this Summer. Here at Smith and Berg, we welcome the cozy season with open arms. Yes, that may mean a pumpkin latte or two and some scented candles here and there. It’s definitely buzzing in the office, so some of the comforts of home adorn our space and keep the Fall energies flowing. We hope you keep up-to-date with SBP each week via our blog Tacos & Tequila. In it, you will find our weekly listings and sales, as well as a fabulous weekly blog you will find informative, and seriously fun to read with your Saturday AM coffee and croissant. If you haven’t already, please do subscribe so you don’t miss a thing: tacosandtequila.com In the meantime, please read our latest: the Q3 Report. 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 each day. In Q3, SBP proudly closed 29 transactions and currently has a listing volume of more than $227M in properties — with a year-to-date sales volume of over $284M. In this report, you will find market stats and other pertinent data, along with expert commentary to enlighten today, and inform your next real estate decision. Take a look. Our decades of experience provides the ability to successfully navigate the realities of the market and create successful outcomes for our clients. Smith & Berg Partners’ 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 expertisecontinues 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

310.500.3931 TEAM@SMITHANDBERG.COM S M I T H A N D B E R G . C O M | TA C O S A N D T E Q U I L A . C O M 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

2023 QUARTERLY REPORT

TABLE OF CONTENTS

Featured Neighborhoods Brentwood

Santa Monica

Westwood

Pacific Palisades

Beverly Hills

Venice

Malibu

Sherman Oaks

Encino

Stats on Stack Q3 2023 $284,596,514 in YTD sales volume. Check out our epic stats on stack.

Hollywood’s Timeless Gems: A Living Legend on S. Muirfield Road Everything you need to know.

2023 QUARTERLY REPORT

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

Honors & Highlights SBP wins big.

ENCINO $2.23M 77

SHERMAN OAKS $2.06M 104

BRENTWOOD MALIBU $7.36M 46

PACIFIC PALISADES $5.50M 58

$4.78M 48

BEVERLY HILLS $8.21M 61

WESTWOOD $2.70M 36

SANTA MONICA

Q3 2023

YOU’VE SEEN US IN THE NEIGHBORHOOD Q3 Average Sales Price

Total Number of Sales in Q3

HANCOCK PARK $3.02M 8

$4.07M 55

VENICE $2.52M 37

#WHEREDOYOUWANTTOLIVENEXT

BRENTWOOD Brentwood offers high-style boutiques and trendy restaurants that are balanced by secluded and

THIRD QUARTER 2023 BRENTWOOD MARKET

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

BEST GRUB

BEST BAR

Literati

Jemma di Mare

Bar Toscana

AVERAGE SALES PRICE JUL - SEP 2023

$4,789,510 -10.1% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,533

$1,662

-7.8%

Total Number of Sales

-32.4%

Highest Sale Amount

$26,968,000

$16,500,000

+63.4%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

430 South Bundy Drive, Brentwood

$13,300,000 7BD/8BA | 10,199 SF | 24,949 SF LOT

2023 QUARTERLY REPORT

SANTA MONICA Brimming with beautiful homes, bustling beaches, upscale shopping and plenty of fine dining,

THIRD QUARTER 2023 SANTA MONICA MARKET

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

BEST GRUB

BEST BAR

10 Speed

Le Great Outdoor

Calabra

AVERAGE SALES PRICE JUL - SEP 2023

$4,079,755 -4.8% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,768

$1,792

-1.3%

Total Number of Sales

-17.9%

Highest Sale Amount

$13,500,000

$19,500,000

-31.3%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

306 Georgina Avenue, Santa Monica

$13,500,000 4BD/5BA | 6,705 SF | 21,107 SF LOT

2023 QUARTERLY REPORT

WESTWOOD Westwood has upscale residential and commercial vibes, best known for being home to UCLA and

THIRD QUARTER 2023 WESTWOOD MARKET

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

BEST GRUB

BEST BAR

Espresso Profeta

Violet Bistro

Barney’s Beanery

AVERAGE SALES PRICE

$2,704,736 +2.4% UP FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,328

$1,256

+5.7%

Total Number of Sales

+33.3%

Highest Sale Amount

$4,999,500

$6,075,000

-17.7%

Average Price Per Square Foot

% Change

FEATURED HOME

FOR SALE

10436 Kinnard Avenue, Westwood

$3,798,000 4BD/4BA | 3,101 SF | 6,362 SF LOT

2023 QUARTERLY REPORT

PACIFIC PALISADES Pacific Palisades is among the most polished, highbrow residential areas in Los Angeles with

THIRD QUARTER 2023 PACIFIC PALISADES MARKET

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.

BEST CUP OF JOE

BEST GRUB

BEST BAR

Alfred Coffee

Angelini Ristorante

The Draycott

AVERAGE SALES PRICE JUL - SEP 2023

$5,505,000 -6.3% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,994

$1,593

+25.2%

Total Number of Sales

0.0%

Highest Sale Amount

$24,950,000

$28,500,000

-12.5%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

1476 Amalfi Dr, Pacific Palisades

$11,070,000 6BD/7BA | 6,220 SF | 14,433 SF LOT

2023 QUARTERLY REPORT

BEVERLY HILLS With a reputation as the “it” place for Hollywood celebrities and high-profile residents, Beverly Hills is

THIRD QUARTER 2023 BEVERLY HILLS MARKET

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

BEST GRUB

BEST BAR

Greendoor

La Dolce Vita

Honor Bar

AVERAGE SALES PRICE

$8,213,047 +9.7% UP FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,722

$1,763

-2.3%

Total Number of Sales

-18.7%

Highest Sale Amount

$34,400,000

$42,000,000

-18.1%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

625 N Sierra Dr, Beverly Hills

$10,100,000 5BD/6BA | 4,542 SF | 14,244 SF LOT

2023 QUARTERLY REPORT

VENICE Known for its hip style and laid-back culture, Venice is among the city’s hottest neighborhoods. Homes

THIRD QUARTER 2023 VENICE MARKET

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

BEST CUP OF JOE

BEST GRUB

BEST BAR

Little Lunch

Ospi

Paloma

JUL - SEP 2023

$2,521,041 -2.5% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$1,768

$2,011

-12.1%

Total Number of Sales

-38.3%

Highest Sale Amount

$4,650,000

$6,900,000

-32.60%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

33 20th Ave, Venice

Sold for $3,300,000 3BD/4BA | 3,334 SF | 2,642 SF LOT

2023 QUARTERLY REPORT

MALIBU Serene and sun-soaked, Malibu is undoubtedly Los Angeles’ most coveted seaside retreat. Via

THIRD QUARTER 2023 MALIBU MARKET

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

BEST GRUB

BEST BAR

Caffe Luxxe

Broad Street Oyster

Calamigos Beach Club

AVERAGE SALES PRICE JUL - SEP 2023

$7,367,207 -17.2% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$2,323

$2,855

-18.60%

Total Number of Sales

+2.2%

Highest Sale Amount

$28,500,000

$70,400,000

-59.5%

Average Price Per Square Foot

% Change

FEATURED HOME

SOLD

0 Murphy Way, Malibu

$2,550,000 1.83 ACRES

2023 QUARTERLY REPORT

SHERMAN OAKS Nestled in the eastern San Fernando Valley, Sherman Oaks is a peaceful residential community with

THIRD QUARTER 2023 SHERMAN OAKS MARKET

a country feel. Tree-lined streets feature Spanish-style houses and ranch homes, many with pools and palm trees dotting their yards. The area is known for excellent schools like Notre Dame High School and its proximity to the bustling Ventura Boulevard corridor. With easy access to Hollywood and DTLA plus suburban perks like the Sherman Oaks Galleria, locals enjoy the calmness of Sherman Oaks with the conveniences of city life.

AVERAGE SALES PRICE

BEST CUP OF JOE

BEST GRUB

BEST BAR

The Boy & the Bear

Anajak Thai

Boneyard Bistro

JUL - SEP 2023

$2,065,512 -1.65% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$994

$909

+9.4%

Total Number of Sales

104

128

-18.8%

Highest Sale Amount

$5,763,000

$5,620,000

+2.54

Average Price Per Square Foot

% Change

FEATURED HOME

IN ESCROW

4107 Stansbury Ave, Sherman Oaks

$4,998,000 6BD/7BA | 5,397 SF | 12,239 SF LOT

2023 QUARTERLY REPORT

ENCINO Situated in the southern San Fernando Valley, Encino offers an upscale suburban lifestyle. Primarily

THIRD QUARTER 2023 ENCINO MARKET

a single-family home community, the neighborhood is dotted with sprawling Mediterranean-style estates surrounded by lush lawns and greenery. Encino Commons provides excellent shopping and dining options, while the nearby Sepulveda Basin Recreation Area offers opportunities for outdoor recreation. The excellent public school district, low crime rate and proximity to Ventura Boulevard make Encino an ideal choice for valley residents seeking safety, convenience and a touch of luxury.

BEST CUP OF JOE

BEST GRUB

BEST BAR

Coral Tree

Pasta|Bar

The Surly Goat

AVERAGE SALES PRICE JUL - SEP 2023

$2,239,409 -18.2% DOWN FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$939

$909

+3.3%

Total Number of Sales

-18.9%

Highest Sale Amount

$9,760,000

$16,000,000

-39.0%

Average Price Per Square Foot

% Change

FEATURED HOME

FOR SALE

3943 Hayvenhurst Drive, Encino

$4,998,000 5BD/7 BA | 8,124 SF | 18,211 SF LOT

2023 QUARTERLY REPORT

HANCOCK PARK Regarded as one of Los Angeles’ most prestigious areas, Hancock Park is known for its historic

THIRD QUARTER 2023 HANCOCK PARK MARKET

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

BEST CUP OF JOE

BEST GRUB

BEST BAR

Neighborhood

Republique

The Edmon

$3,025,625 +0.4% UP FROM JUL - SEP 2022

JUL - SEP 2023

JUL - SEP 2022

$973

$912

+6.7%

Total Number of Sales

-57.9%

Highest Sale Amount

$7,800,000

$5,900,000

+32.2%

Average Price Per Square Foot

% Change

FEATURED HOME

FOR SALE

211 S Muirfield Rd, Los Angeles

$23,000,000 8BD/12BA | 10,179 SF | 30,224 SF LOT

2023 QUARTERLY REPORT

HOLLYWOOD’S TIMELESS GEM:

A Living Legend on South Muirfield Road

Transport yourself to the vibrant, intoxicating era of the roaring twenties. A time when jazz hung in the air like sweet incense, and the promise of the silver screen beckoned on the horizon. Los Angeles was in the throes of a renaissance, and the boulevards seemed to compete in a grand display of opulence.

2023 QUARTERLY REPORT

And in the midst of this architectural rebirth, there it stood: 211 South Muirfield Road. Crafted in 1926 by master architect Roland E. Coate, this historic Spanish Revival Estate swiftly became an integral part of Hollywood history, home to socialite Eva K. Fudger, and later, movie mogul and aviation pioneer Howard Hughes Imagine the 15-year period when this house was graced by the presence of Hughes, the eccentric genius whose life was filled with mystery and intrigue. He roamed these halls, perhaps deep in thought, contemplating the next grand adventure or innovation that would define his legacy. The views of the eighth green of the Wilshire Country Club that stretch before you were once his daily inspiration, a canvas for his imagination.

Today, no expense has been spared updating the estate to suit a modern lifestyle. The kitchen, a masterpiece with polished brass countertops and a 24-foot kitchen island, flows into a spacious family room adorned with towering bookshelves and an expansive, outdoor oasis fit for today’s entertaining. An intimate screening room, a 2,500-bottle wine vault, and an attached guest residence add layers of excitement. And did we mention it’s listed on the National Register of Historic Places and bestowed with the prestigious Los Angeles Historic Cultural Monument #1123 designation? This is so much more than just a home; it’s a new page for the 211SOUTHMUIRFIELD.COM

2023 QUARTERLY REPORT

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2023 QUARTERLY REPORT

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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.

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2023 QUARTERLY REPORT

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Roll up your sleeves.

Move over, Guy Fieri.

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2023 QUARTERLY REPORT

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2023 QUARTERLY REPORT

Meet Our Team

Honors & Highlights

2023 F. RON SMITH

DAVID BERG

ROBERT MORTON

SEWIT ESHETU

NATHAN STADLER

BRANDON SMITH

PARISA SCHNIDER

RYAN BERGUM

EDWARD HUTCHINSON

COURTNEY WELSH

KRISTA MASELLA

KATY YAMBAO

GARRETT SANDERS

NATALIE GUREVITCH

Real Trends & Wall Street Journal’s #1 Team on LA’s Westside / #10 in the Nation 2023 Los Angeles Business Journal The List: Top 100 Residential Real Estate Agents 2023 Hollywood Reporter Top 30 Real Estate Agents 2023 Variety Magazine Showbiz Real Estate Elite 2023 Los Angeles Business Journal Leaders of Influence: F. Ron Smith & David Berg 2021, 2022, 2023 Los Angeles Magazine’s Real Estate All-Star Team 2023 Top 1% of Compass The Real Deal’s Top Selling Luxury Real Estate Agents 2023 Los Angeles Business Journal Top Real Estate Agents & Sales 2023

Phone

Social

310.500.3931

@smithandberg

Website

smithandberg.com

team@smithandberg.com

2023 QUARTERLY REPORT

A leading Westside team at

smithandberg.com 310.500.3931 team@smithandberg.com | @smithandberg 11740 San Vicente Blvd, Suite 203, Los Angeles, CA 990049 150 S Rodeo Dr, Suite 100, Beverly Hills, CA 90212

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