Page 1

2019 Annual Report


+ TABLE OF CONTENTS

05

37

THE AGENCY: 2019 YEAR IN REVIEW

S O U T H E R N C A L I F O R N I A M A R K E T O V E RV I E W

07

48

OUR MILESTONES

A R I Z O N A M A R K E T O V E RV I E W

11

52

AWARDS & ACCOLADES

MEXICO MARKET OVERVIEW

13

58

PUBLIC RELATIONS

PA R K C I T Y M A R K E T O V E R V I E W

17

62

OUR GROWTH

S O U T H F LO R I D A M A R K E T O V E R V I E W

19

66

T H E A G E N C Y C R E AT E S

TURKS & CAICOS MARKET OVERVIEW

21 T H E A G E N C Y D E V E LO P M E N T G R O U P

23 BRITISH COLUMBIA MARKET OVERVIEW

29 N O RT H E R N C A L I F O R N I A M A R K E T O V E RV I E W


The Agency: 2019 Year in Review The Agency was born from one simple idea. We can do things better. We can modernize the process of buying and selling real estate. We can offer a new way of doing business that drives results for our clients and agents. Here we are, eight years since our inception, taking stock of how far we’ve come. Our culture has set us apart from the rest of the industry. No matter what office you work with, the same feeling of partnership, passion and family remains consistent. We’ve created a place where people want to come to work each day. Where each agent and client is backed by a team of international real estate advisors. This support extends to every division of the company, from marketing to tech, new development to residential sales. In 2019, The Agency had many record-breaking sales in Los Angeles and beyond. Our office had the highest sale in Northern California’s East Bay—3114 Blackhawk Meadow Lane in Danville sold for $7 million. In Encino, The Agency sold 16144 High Valley Place, which created a new record when it sold for $10.8 million, but was soon eclipsed by our sale of 17100 Rancho for $20 million. In Canada’s Cordova Bay, our agents achieved the area’s highest selling price for a single-family home in 2019 with 1104 D’Arcy Lane, which sold for $3,095,000. During the year, we cornered 22% of the market share with only 1% of the agents in Los Angeles. We took our model for the industry and continued our expansion to new markets, from Orange County to Aspen, La Paz to Healdsburg. We were named among Inc. 5000’s list of fastest-growing private companies in the country for the fourth consecutive year. Surpassing 270,000 followers on Instagram, we became the most followed real estate brokerage in the world. None of this would have happened if we didn’t hyper-focus our global expertise in each market we represent—hiring only the best local agents and maintaining our boutique approach every step of the way. Our biggest source of pride has always been our people—we value every member of The Agency team and the clients who influence our every move. Each day, we come to work grateful, inspired and driven to further our mission on behalf of the agents and clients who’ve placed their trust in The Agency. And we’ll never take our mission lightly.

BILLY ROSE

MAURICIO UMANSKY

Founder + President

Founder + CEO


In 2019, The Agency proved we can go global and still be local — just as we always intended.

NO. 5


The Agency Global Forum 2019 MARKED THE LAUNCH OF THE AGENCY’S INAUGURAL GLOBAL FORUM

THE AGENCY REPORT 2019

This two-day conference brought together hundreds of agents from across the U.S., Canada, Mexico and the Caribbean, as well as leading industry specialists and paradigm-shifting innovators. Agents networked and attended workshops led by some of the best and brightest minds in real estate today, including Clara Capano of Ninja Selling, digital marketing expert James Rembert and The Agency's Principal Santiago Arana. The Agency’s Co-Founders, CEO Mauricio Umansky and President Billy Rose, gave a rousing company address in which they reflected on the past eight years and looked to the future. “This company was built for agents, by agents,” Mauricio said. “It’s so important to surround yourself with great people—people with passion and grit—who will lift you up. We are meant to be the few. And what makes us special is how we all come together.” After a spirit-lifting performance from L.A. gospel-pop choir, RAISE, the Forum concluded with an inspiring closing keynote address from bestselling author, entrepreneur, and ESPY award-winning mixed martial arts athlete, Kyle Maynard.


NO. 7


We Like to Keep Things Eventful

THE AGENCY REPORT 2019

In between setting record-breaking sales numbers and growing our roster of agents across the country, The Agency team still found time for fun. Highlights included our summertime Anniversary Party, our first-ever staff kickball game, a high-energy beach clean-up in Santa Monica, 1895 Rising Glen’s star-studded debut fete, a lively ShoreBar happy hour that benefited Giveback Homes, an unforgettable backyard party at Brentwood’s 227 N. Tigertail (complete with synchronized swimmers) and the toastworthy opening of our Healdsburg office in Northern California wine country.


NO. 9


Awards and Accolades THE AGENCY TEAM PICKED UP A NUMBER OF AWARDS IN 2019

5 of our Agents named to REAL Trends Inc.’s ranking of the 50 Top Real Estate Professionals and Teams 42 ranked among REAL Trends Inc.’s America’s Best The Hollywood Reporter named Santiago Arana, Sandro Dazzan, David Parnes and James Harris and The Umansky Team (Mauricio Umansky, Farrah Brittany and Eduardo Umansky) among Top 30 Real Estate Agents in Hollywood The San Francisco Business Journal named Tracy McLaughlin among the Most Influential Women in Business

THE AGENCY REPORT 2019

Michelle Schwartz was selected by L.A. Biz as a Women of Influence Honoree The Los Angeles Business Journal recognized Mauricio Umansky and Santiago Arana among the publication’s exclusive LA 500 for 2019 Our PR team was honored with the Hermes Creative Award for the third consecutive year The Agency Commercial Advisory division was honored by the Los Angeles Business Journal Shane Farkas, The Agency Chief Operating Officer & Chief Technology Officer, was named a finalist in the Rising Star category of the publication’s esteemed CTO awards The Agency was named one of L.A.’s 100 Fastest-Growing Private Companies by The Los Angeles Business Journal T3 Sixty’s Swanepoel Mega 1000—a brokerage and franchise rankings report—ranked The Agency Number 21 among the Nation’s Top 1,000 brokerages For the second year in a row, Mauricio Umansky was recognized by Swanepoel Power 200 as one of the most powerful and influential leaders in residential real estate The Agency Arizona’s Marilyn Cavanaugh was honored at the 5th Annual Scottsdale Women’s Council of Realtors Top Women in Real Estate event For the fourth year in a row, The Agency ranked on Inc. 5000 ’s list of Fastest-Growing Private Companies in America, also making a significant jump in rank this year, from number 3,947 in 2018 to number 3,174

#HUMBLEBRAG


13 agents named among Real Trends Inc.'s The Thousand 2019 featured in The Wall Street Journal As advertised by The Wall Street Journal and REAL Trends

TEAMS

SANTIAGO ARANA

The Umansky Team

SANDRO DAZZAN

MAURICIO UMANSKY

AILEEN COMORA

EDUARDO UMANSKY

TRACY MCLAUGHLIN

FARRAH BRITTANY

PAUL LESTER

The Harris & Parnes Team

BLAIR CHANG

JAMES HARRIS

JON GRAUMAN

DAVID PARNES

CRAIG KNIZEK

NO. 11

INDIVIDUALS


Public Relations 2019 WAS A LANDMARK YEAR FOR THE AGENCY

THE AGENCY REPORT 2019

From our hometown paper (the L.A. Times) to international publications and beyond, The Agency enjoyed a year jam-packed with exceptional press coverage.


The Agency PR team secured 2,096 media placements in 2019 The outlets included: GQ Magazine Haute Residence Herald Sun JustLuxe Ideal Home Inman InMexico Interior Design KTLA Los Angeles Daily News Los Angeles Magazine Luxury Magazine Mansion Global Maxim Mexico News Daily Modern Luxury Modesto Bee MSN NBC Nob Hill Gazette Ocean Home Magazine Observer Ok! Orange County Business Journal Orange County Register Palm Springs Life Penta People Radar Online Realtor.com Refinery 29 Robb Report Robb Report Singapore

Salt Lake Tribune Santa Barbara Life & Style San Diego Union Tribune San Francisco Chronicle South China Morning Post The Chicago Tribune The Daily Mail The Financial Times The Guardian The Hollywood Reporter The Los Angeles Business Journal The Los Angeles Times The Miami Herald The New York Post The New York Times The Real Deal The Sun Sentinel The Sunday Times The Wall Street Journal The Washington Post TMZ Travel + Leisure Travel Weekly Travel Pulse Toronto Star Unique Homes US Weekly USA Today Variety Veranda Vogue Yachts International Yahoo!

NO. 13

Access Hollywood Apartment Therapy Architectural Digest Artful Living Aspen Times Bella Magazine Bloomberg Bravo Business Insider Calgary Herald California Home + Design Caribbean Journal City & Shore Magazine CNBC Cosmopolitan Cottages & Gardens Country & Town House CSQ Magazine Curbed DIGS Magazine DuJour Dwell E! News Elle DĂŠcor Entertainment Tonight Entrepreneur Financial Times Forbes FORE Magazine Fox News Galerie Magazine Globe Street Good Housekeeping


On the Record + MAURICIO UMANKSY

“My advice for anyone who’s looking to start their own real estate business is to be confident in their decisions and soak up as much knowledge of the market as possible and don’t be afraid to fail. Maintaining that fire and tenacity is crucial in order to be successful and offer your clients the best service possible.”

THE AGENCY REPORT 2019

+ DAVID PARNES

“To crack the market in Bel Air, James [Harris] and I would literally play rock, paper, scissors to determine who would have to cold-knock on the door to find new clients. We’d be parked outside Keanu Reeves’ and Leonardo DiCaprio’s house playing the game. I remember having to walk up to Dr. Dre’s house and ring the bell. I was petrified and I could see James in the car laughing his head off. But that’s how we broke in.” + BILLY ROSE

“We’ve done analyses in the past in Los Angeles that showed if you’ve owned anywhere in the city for any seven-year period of time, you’ve always made money.” + SANTIAGO ARANA

“I believe in life, there are moments. I believe that we shape our lives and our destinies by the decisions we make—the good ones and the bad.”


OUR AGENTS IN THE PRESS

+ RACHEL SWANN

“When buyers are looking, they look for what is not commonplace; they look for the diamond in the rough— something you keep in a collection, something with a story or iconic aspect to it.” + IAN HURDLE

+ TRACY MCLAUGHLIN

“The Agency is a company that I have long admired for its collaborative spirit and marketing prowess. Mauricio Umansky and Billy Rose created a firm that is one of the most innovative in the real estate industry, and I am honored to be leading operations in Marin County.” + BERNARDO MUCINO KOENIG

“The Agency in Los Cabos has revolutionized the real estate market in the region, and it has been a pleasure to bring to Mexico the collaborative philosophy and unique culture our firm represents.”

NO. 15

"We are seeing investors flocking to our shores, who recognize the value that our contemporary beachfront product offers versus the rest of the Caribbean and who love the symbiosis our low-density luxury lifestyle in tandem with our friendly Island community and of course East Coast accessibility.”


OUR RESULTS

THE AGENCY REPORT 2019

THE AGENCY ACHIEVED

Approximately $6 Billion in Sales Volume IN 2019

WE OPENED

8 New Offices OUR TEAM COMPLETED APPROXIMATELY

2,800 Transactions


Honorable Mentions THE AGENCY ARIZONA Over just two years, we tripled our market share in the region. We completed 258 transactions. This was an increase of 49% over 2018.

THE AGENCY VANCOUVER ISLAND, BRITISH COLUMBIA We made a record-breaking sale—1104 D’Arcy Lane garnered the highest selling price for a Single-Family home in Cordova Bay in 2019, $3,095,000.

THE AGENCY NORTHERN CALIFORNIA We achieved the highest sale in the East Bay in 2019—3114 Blackhawk Meadow Lane, $7 million.

THE AGENCY LOS ANGELES We sold The Manor, achieving the highest recorded sale in Holmby Hills and, as of print, was the second-highest sale in Los Angeles for $120 million.

THE AGENCY TURKS & CAICOS We achieved the highest recorded sale on Long Bay Beach—Triton Villa, $11.5 million. We achieved the highest recorded sale on International Drive—Stargazer, $5 million. We more than doubled our sales volume in 2019.

NO. 17


THE AGENCY REPORT 2019

The Agency Creates

The Agency single-handedly changed the way people buy and sell real estate by adapting to the nature of the global consumer. It was adaptability that was the driving force behind the brokerage’s vision for marketing real estate. The Agency’s in-house creative team excels in the art of branding and marketing real estate, having collaborated on some of the most influential properties in the world. The Agency Creates (TAC) has branded billions of dollars in real estate, from Los Angeles to Los Cabos, San Francisco to Miami. TAC continually innovates fresh ways to present properties to the world, calling on its team of forwardthinking designers and creatives for of-the-moment tactics and compelling strategies.

DIGITAL FOOTPRINT TAC led the charge in establishing The Agency’s powerful owned media network, including social media, website and email marketing, an invaluable asset to our agents and their clients. Surpassing 270,00+ Instagram followers in 2019, The Agency became the most followed brokerage in the world.

WEBSITE TAC led the creation of TheAgencyRE.com, which was envisioned to put the firm’s technology, power and knowledge into the hands of our clients.


NO. 19


THE AGENCY REPORT 2019

The Agency Development Group

YERBA BUENA ISLAND, SAN FRANCISCO


2019 was a banner year for The Agency Development Group, which has been inking new deals, selling out projects and representing incredible properties and brands around the globe. The Agency Development Group offers a fully integrated approach to the representation of new, luxury development clients worldwide. The company is comprised of leading real estate industry experts with various specialties, including development, asset management, sales and private equity. With the engine in-house to lead everything from land entitlement to sales strategy, The Agency Development Group provides pre-construction design input, marketing and public relations strategy, sales operation management, branding solutions and a vast international client reach.

The Agency Development Group’s current portfolio is almost $2.218 billion in total sales mandates, with approximately $1.668 billion in new sales mandates added in 2019 alone.

NO. 21


THE AGENCY REPORT 2019


MARKET REVIEW

NO. 23

Our Notable Sales $5,500,000 2612 QUEENSWOOD LANE, VICTORIA $4,630,000 2753 SOMASS DRIVE, VICTORIA $3,157,500 430 ST. PATRICK STREET, VICTORIA


Victoria SINGLE-FAMILY RESIDENCES

Having already showed signs of slowing last year, a combination of new federal and provincial tax and lending rules aimed at housing served to further cool market activity in Victoria during 2019. Despite moderating prices, purchase activity fell across all segments of the market with inventory building up throughout most of

the year as homes sat on the market longer. The once competitive seller’s market has largely shifted in favour of buyers, although affordability constraints continue to be a challenge.

Sales

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

1,760

$779,950

$370

-1.9%

29

2019

719

$998,788

$432

4.9

YoY

-39.9%

-3.8%

-2.4%

-

38.1%

YoY

44.4%

11.0%

5.1%

140.4%

2018

2,930

$811,000

$379

-1.2%

21

2018

498

$899,900

$411

2.0

2017

3,772

$769,000

$359

0.8%

14

2017

349

$960,000

$397

1.1

2016

4,924

$665,000

$311

1.4%

14

2016

290

$899,444

$359

0.7

2015

4,037

$575,750

$274

-1.6%

27

2015

547

$644,000

$287

1.6

5 Year History $1,250,000

1,600

$800,000

1,400 1,600

$700,000 $1,000,000

1,200

$600,000

1,200 1,000

$750,000 $500,000

800

$400,000

600

$300,000

400 400

$200,000 $250,000

200

$100,000

800

$500,000

0

$0

Q3-15 Q3-15

Q4-15 Q4-15

Q1-16 Q1-16

Q2-16 Q2-16

Q3-16 Q3-16

Q4-16 Q4-16

Sales

Q1-17 Q1-17

Active Units

Sales by Price Range

Q2-17 Q2-17

Q3-17 Q3-17

Q4-17 Q4-17

Q1-18 Q1-18

Q2-18 Q2-18

$0

Q4-19 Q4-19

723

Median DOM by Price Range 40 31

21

26

20 17

20

23

9

10

100 0 $0 - $599,999 $600,000 $699,999

$700,000 $799,999

$800,000 $899,999

$900,000 - $1,000,000 - $3,000,000 + $999,999 $2,999,999

5 0

$0 - $599,999 $600,000 $699,999

$700,000 $799,999

$800,000 $899,999

2018 2019

15

173

200

25

20

342

303

2019

26

28

475

2018

28

560

30

390 310

382

Q3-19 Q3-19

45

35

278

300

255

400

Q2-19 Q2-19

40

461

500

Q1-19 Q1-19

Median DOM by Price

700 600

Q4-18 Q4-18

Median Active Price Median Sale Price Median Active Price

Sales by Price Range 800

Q3-18 Q3-18

42

Q2-15 Q2-15

22

Q1-15 Q1-15

16

Q4-14 Q4-14

28

0

Price Price

2,000

Units Units

+ THE AGENCY REPORT 2019

2019 Market Overview

$900,000 $999,999

$1,000,000 - $3,000,000 + $2,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Similar to the single-family space, Victoria’s condominium market recorded another year of cooling real estate activity. Sales activity fell sharply across all segments of the market, with homes taking about 10 days longer to sell than the previous year. Although the median sale price decreased and homes sold at a larger discount, buyers paid more on price per

square foot. Despite a build up in supply throughout most of the year, inventory is slightly tighter than a year ago but still above levels in 2016/17. List prices have come down; however, it’s largely a result of the changing composition of supply, with a shift toward new development as well as compact units that garner a premium per square foot.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

1,561

$424,000

$449

YoY

-44.7%

-3.6%

4.1%

2018

2,824

$440,000

$432

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

-2.0%

27

-

58.8%

-0.8%

17

MEDIAN PPSF

MONTHS OF INVENTORY

2019

408

$519,450

$612

3.1

YoY

-4.7%

-1.9%

28.2%

72.5%

2018

428

$529,400

$477

1.8

3,613

$393,000

$394

1.0%

12

2017

260

$525,000

$408

0.9

3,891

$339,900

$326

-0.5%

19

2016

218

$394,900

$366

0.7

2015

2,899

$320,000

$288

-2.5%

40

2015

561

$320,000

$299

2.3

NO. 25

2017 2016

$600,000 $800,000

1,400 1,250

$700,000 $500,000

1,200 1,000 1,000

$600,000 $400,000 $500,000

750 800

$300,000 $400,000

600 500

$300,000 $200,000

400 250 200

$200,000 $100,000 $100,000 Q4-14 Q4-14 Q1-15 Q1-15 Q2-15 Q2-15 Q3-15 Q3-15 Q4-15 Q4-15 Q1-16 Q1-16 Q2-16 Q2-16 Q3-16 Q3-16 Q4-16 Q4-16 Q1-17 Q1-17 Q2-17 Q2-17 Q3-17 Q3-17 Q4-17 Q4-17 Q1-18 Q1-18 Q2-18 Q2-18 Q3-18 Q3-18 Q4-18 Q4-18 Q1-19 Q1-19 Q2-19 Q2-19 Q3-19 Q3-19 Q4-19 Q4-19 Sales

Active Units

Sales by Price Range

Median DOM by Price

Sales by Price Range

$400,000 $499,999

15

22

27

19

22

26

26

27

32

$500,000 $749,999

20

42

10

0 $0 - $299,999 $300,000 $399,999

30

9

54

100

25

173

2019

17

337

2018

90

200

294

300

155

400

40

460

485

500

44

50

700 600

50

707

768

800

Median DOM by Price Range 60

783

900

$0$0

Median SaleMedian Price Active Price Median Active Price

22

00

16

Units Units

1,500 1,600

Price Price

5 Year History

$750,000 - $1,000,000 - $1,250,000 + $999,999 $1,249,999

0

$0 - $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $1,250,000 + $1,249,999

2018 2019


Nanaimo and Cowichan SINGLE-FAMILY RESIDENCES

Housing indicators continue to signal a cooling market for single-family homes in Nanaimo and Cowichan. Purchasing activity declined for the third consecutive year despite moderating price growth. Whereas the market recorded doubledigit price gains between 2015 and 2018, year-over-year growth

slowed to just under 5% in 2019. In addition to slower sales and price growth, the gap between the sold and list price widened, and homes took longer to sell across all price segments.

Sales

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

2,040

$549,900

$260

-1.7%

19

2019

530

$653,500

$287

3.1

YoY

-19.1%

4.7%

2.0%

-

26.7%

YoY

20.2%

0.6%

1.3%

48.5%

2018

2,521

$525,000

$255

-0.9%

15

2018

441

$649,900

$283

2.1

2017

3,235

$474,900

$234

-0.5%

12

2017

352

$636,950

$275

1.3

2016

3,471

$415,000

$200

-1.3%

17

2016

389

$509,000

$230

1.3

2015

4,402

$373,000

$178

-2.2%

28

2015

649

$424,900

$197

1.8

5 Year History $800,000

1,400

$700,000

1,200

$600,000

1,000

$500,000

800

$400,000

600

$300,000

400

$200,000

200

$100,000

0

$0 Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q2-19

Q3-19

Q4-19

Median DOM by Price Range 83

982

90 80 776

70

18

9

$550,000 $699,999

$700,000 $849,999

$850,000 - $1,000,000 - $1,500,000 + $999,999 $1,499,999

33

41

38

39 27

27 20

16

16

12

75

70

249

100

88

20

0 $0 - $399,999 $400,000 $549,999

40 30

213

200

50

20

433

2019

12

664

637

60

2018 247

400

Q1-19

Median Active Price

Sales by Price Range

800

Q4-18

Median DOM by Price

1200 1000

Q3-18

18

Q4-14

600

Price

1,600

PRICE

UNITS Units

+THE THEAGENCY AGENCYREPORT REPORT2019 2019

2019 Market Overview

10 0

$0 - $399,999 $400,000 $549,999

$550,000 $699,999

$700,000 $849,999

$850,000 $999,999

$1,000,000 - $1,500,000 + $1,499,999

2018 2019


CONDOMINIUM RESIDENCES

2019 Market Overview Affordability continues to challenge condominium buyers in Nanaimo and Cowichan. Despite expanding inventory and slowing home price growth, purchase activity fell across all segments of the market, with units taking longer to sell and at a larger discount during 2019. Supply increases typically put a downward pressure on prices, helping balance an

overheated market. However, price movements observed with current supply signal much of the downward adjustment in prices is mostly a result of more compact (and thus cheaper on an absolute level) units on the market, rather than a true correction.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

724

$320,450

$286

-1.6%

20

2019

200

$365,000

$362

3.3

YoY

-23.7%

5.1%

3.3%

-

66.7%

YoY

49.3%

-3.9%

19.8%

95.6%

2018

949

$305,000

$276

-0.7%

12

2018

134

$379,900

$302

1.7

2017

1,001

$260,000

$237

0.3%

8

2017

92

$399,900

$294

1.1

2016

1,049

$237,257

$208

-1.4%

21

2016

111

$330,800

$341

1.3

2015

785

$224,900

$186

-2.5%

46

2015

262

$233,900

$214

4.0

NO. 27

YEAR

$420,000

360

$360,000

300

$300,000

240

$240,000

180

$180,000

120

$120,000

60

$60,000

0

Price

420

PRICE

UNITS Units

5 Year History

$0 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Sales

Active Units

Sales by Price Range

Median Sale Price

Median Active Price

Median DOM by Price

Sales by Price Range

Median DOM by Price Range

322

297

70

300 221

50

200 144

40

0

$300,000 $399,999

$400,000 $499,999

$500,000 $749,999

23 17

21

19

22

0

0 $0 - $199,999 $200,000 $299,999

14

1

0

7

5

10

2019

8

50

9

11

20

17

77

67

2018

30 19

2019

100

112

2018 93

100

52

227

60

250

150

59

350

$750,000 - $1,000,000 + $999,999

$0 - $199,999

$200,000 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 +


THE AGENCY REPORT 2019


MARKET REVIEW

NO. 29

Our Notable Sales $14,000,000 1 & 7 BELLAGIO ROAD, MARIN $11,495,000 41 UPPER ROAD, MARIN $7,000,000 3114 BLACKHAWK MEADOW LANE, ALAMO


San Francisco SINGLE-FAMILY RESIDENCES

2019 Market Overview Although year-over-year home price growth has slowed—up less than 1% in 2019 compared to last year’s double-digit gains—San Francisco remains the most expensive market in the country with 2019 home prices at a five-year high. Price growth in 2019 was largely driven by a second-quarter frenzy in response to the IPO hype rather than sustainable demand drivers as buyers—hoping to pre-empt the influx of new tech wealth—fueled demand while sellers delayed

listing their homes, hoping to catch the height of the wealth boom in the fall. Despite the buzz generated in anticipation of the wave of IPOs by San Francisco’s tech giants at the start of the year, 2019 sales activity closed at its lowest in five years. Demand for homes in the city remains high— those that do sell continue to do so in just two weeks and at a substantial premium over ask—yet housing affordability continues to challenge buyers.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

2,126

$1,600,000

$942

12.9%

14

2019

74

$1,872,500

$976

0.4

YoY

-4.2%

0.8%

4.0%

-

0.0%

YoY

-64.8%

34.9%

27.1%

-58.4%

2018

2,220

$1,587,000

$906

15.9%

14

2018

210

$1,388,500

$768

1.1

2017

2,261

$1,415,000

$855

15.1%

14

2017

129

$1,250,000

$767

0.7

2016

2,221

$1,325,000

$782

11.6%

21

2016

197

$1,249,000

$741

1.1

17

2015

193

$998,000

$623

1.0

2015

2,305

$1,250,000

$722

15.4%

800

$2,000,000

700

$1,750,000

600

$1,500,000

500

$1,250,000

400

$1,000,000

300

$750,000

200

$500,000

100

$250,000

0

$0 Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

1,400

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price 50

1,225

1,289

Sales by Price Range

Q2-17

46

Q4-14

45

1,200

40

1,000

35

19

20

11

14

13

17 13

14

14

14

14

20

18

25

2019

15 10 11

11

57

51

73

65

141

141

410 253

217

200

402

600

2018

22

30

800

400

Price

5 Year History Units

+ THE AGENCY REPORT 2019

Sales

5 0

0 $0 $999,999

$1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999 +

$0 - $999,999 $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999

2018 2019


CONDOMINIUM RESIDENCES

2019 Market Overview The same forces driving the single-family market caused buyers to pull back in the condominium market. Despite momentum from the IPO buzz, purchasing activity for the year fell by 8.7% with closings down across most price segments. The median sale price hit a five-year high; however, year-overyear gains in 2019 were slower than previous years. While the

market remains competitive, low inventory—much of which is skewed toward the ultra-high-end (evidenced in the uptick in median active price)—will likely exacerbate affordability and weigh down sales activity.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

2,745

$1,240,000

$1,082

YoY

-8.7%

3.3%

2.2%

2018

3,006

$1,200,000

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

5.6%

19

-

-5.0%

$1,059

6.4%

20

MONTHS OF INVENTORY

2019

211

$1,595,000

$1,260

0.9

YoY

-40.4%

45.1%

28.1%

-23.5%

2018

354

$1,099,000

$984

1.4

2,886

$1,142,750

$989

5.0%

24

2017

284

$1,099,000

$1,016

1.2

2,791

$1,085,000

$950

4.6%

29

2016

307

$1,150,000

$966

1.3

2015

2,886

$1,095,000

$939

8.6%

22

2015

290

$950,000

$829

1.2

NO. 31

2017 2016

1,000

$1,800,000

800

$1,440,000

600

$1,080,000

400

$720,000

200

$360,000

Price

Units

5 Year History

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Median Sale Price

1,566

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

83

80 70

1,400

47

2019 22

19 15

13

270

16

16

23

22

29

30

12

14

65

65

10

0 $0 - $499,999 $500,000 $749,999

2019

2018

20 251

328 92

61

400

292

600

40 28

690 543

800

2018

48

50

1,000

52

60

1,200

200

Q3-18

Median DOM by Price

1,502

1,600

Q2-18

Median Active Price

90 1,800

Q1-18

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 - $5,000,000 + $999,999 $1,999,999 $2,999,999 $4,999,999

0 $0 - $499,999 $500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,000,000 - $3,000,000 - $5,000,000 + $1,999,999 $2,999,999 $4,999,999


Noe Valley & The Castro SINGLE-FAMILY RESIDENCES

2019 Market Overview Noe Valley and The Castro’s single-family market experienced a strong year of sales and price growth with both metrics hitting a five-year high in 2019. After flattening the previous year, growth in the median sale price resumed an upward trend, although buyers continued to pay about the same price per square foot. The strong upward movement in median sale price and flat price per square foot suggest that home price growth is in part a reflection

of a shift in the composition of home sales toward the higher end of the market: larger and thus more expensive homes. Noe Valley and The Castro face a severe shortage of inventory, particularly at entry-level price points, with the number of active units down 56.5% and median active price up 49% from just a year ago.

+ THE AGENCY REPORT 2019

Sales

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

327

$2,500,000

$1,199

10.2%

14

2019

10

$3,575,000

$1,157

0.4

YoY

1.9%

8.7%

-0.3%

-

7.7%

YoY

-56.5%

49.0%

12.4%

-57.3%

2018

321

$2,300,000

$1,202

11.2%

13

2018

23

$2,400,000

$1,029

0.9

2017

314

$2,305,500

$1,148

10.3%

14

2017

15

$2,250,000

$1,048

0.6

2016

316

$2,063,750

$1,065

8.9%

19

2016

18

$3,172,500

$1,026

0.7

14

2015

8

$1,884,500

$974

0.3

2015

300

$2,100,000

$1,102

14.7%

$4,200,000

100

$3,500,000

80

$2,800,000

60

$2,100,000

40

$1,400,000

20

$700,000

Units

120

$0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

44 37

21

19

21

26

28

33

40

12

14 13

14

14 13

14 13

13

13

15

12 45

50

18

14

52

60

14

69

16

70

14

84

87 82

18

80

2018

10

2018

2019

8

2019

6 4 2

10 0

Q4-17

20

90

20

Q3-17

Median DOM by Price

100

30

Q2-17

0 $0 $1,500,000 - $2,000,000 - $2,500,000 - $3,000,000 - $3,500,000 - $4,000,000 + $1,499,999 $1,999,999 $2,499,999 $2,999,999 $3,499,999 $3,999,999

$0 $1,499,999

$1,500,000 - $2,000,000 - $2,500,000 - $3,000,000 - $3,500,000 - $4,000,000 + $1,999,999 $2,499,999 $2,999,999 $3,499,999 $3,999,999

Price

5 Year History


CONDOMINIUM RESIDENCES

2019 Market Overview Noe Valley and The Castro’s condominium market recorded another year of strong price appreciation with the median sale price up about 7% from the previous year. Whereas housing indicators, such as the substantial premium paid over list price and rapid pace of sales—just two weeks—signal strong demand, the market saw a pullback in annual sales activity in 2019. While 2019 kicked off with supply at about the same level as the previous year, inventory over the next two quarters remained flat. Many sellers withheld bringing their unit to market hoping that by

delaying, they could catch the height of the wealth boom expected to occur as hotly anticipated IPO lockup periods expire. The lack of supply throughout most of the year resulted in fewer closings and strong price appreciation as buyers competed for what little was available while others were priced out. Sellers eventually dumped much of the withheld inventory at the end of the third quarter helping drive the strongest fourth quarter of condominium sales in 2019. In this context, it’s evident that lower sales activity is in large part a reflection of supply rather than demand conditions.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

419

$1,500,000

$1,138

YoY

-5.2%

7.1%

-0.6%

2018

442

$1,400,000

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

12.7%

14

-

0.0%

$1,145

13.6%

14

MONTHS OF INVENTORY

2019

9

$1,791,000

$1,140

0.3

YoY

-47.1%

55.7%

11.6%

-44.2%

2018

17

$1,150,000

$1,022

0.5

425

$1,335,000

$1,081

10.8%

16

2017

15

$895,000

$1,092

0.4

394

$1,253,500

$1,020

8.6%

24

2016

22

$1,232,500

$821

0.7

2015

474

$1,225,000

$1,033

14.0%

18

2015

27

$950,000

$887

0.7

NO. 33

2017 2016

200

$2,000,000

160

$1,600,000

120

$1,200,000

Price

Units

5 Year History

80

$800,000

40

$400,000

$0

0 Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q4-17

Q1-18

Median Sale Price

Q3-18

Q3-19

Q4-19

29

13

16 12

12

12

15

7

9

14

5 2

0

0 $0 - $749,999 $750,000 - $1,000,000 - $1,500,000 - $2,000,000 - $2,500,000 - $3,000,000 + $999,999 $1,499,999 $1,999,999 $2,499,999 $2,999,999

2018 2019

10

34

46 18

21

Q2-19

8

57

2019

13

15

2018

80

40

Q1-19

13

20

20

100

14

25

157

25

120

60

Q4-18

Median Active Price

140

20

Q2-18

30 143

160

153

180

Q3-17

Median DOM by Price

171

Sales by Price Range

Q2-17

19

Q1-15

24

Q4-14

$0 - $749,999

$750,000 $999,999

$1,000,000 - $1,500,000 - $2,000,000 - $2,500,000 - $3,000,000 + $1,499,999 $1,999,999 $2,499,999 $2,999,999


Danville Alamo SINGLE-FAMILY RESIDENCES

2019 Market Overview With less than a month’s worth of inventory, Danville continues to be a competitive market for home buyers; however, 2019 housing indicators signal a cooling market. Both sales activity and prices were broadly flat year-overyear while homes, previously selling at a premium over the list price, sold at a discount and spent about 5 days longer on the market before selling. Looking at the market by price segment, there was strong demand at both the lowest and

highest end of the market with both segments recording an increase in the number of home closings and reduced time spent on the market. Whereas the market was broadly flat in 2019, exceptionally tight inventory conditions—cut by almost half from a year ago—will likely fuel some price growth as buyers compete for a smaller pool of inventory, but also suppress sales activity as buyers wrangle with supply constraints.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

700

$1,375,000

$519

-1.0%

16

2019

50

$1,724,050

$509

0.9

YoY

-0.3%

-0.4%

1.0%

-

45.5%

YoY

-47.9%

-1.4%

-3.8%

-47.8%

2018

702

$1,380,000

$514

0.3%

11

2018

96

$1,749,400

$529

1.6

2017

763

$1,330,000

$490

0.3%

11

2017

72

$1,898,450

$514

1.1

2016

731

$1,250,000

$464

-0.5%

13

2016

108

$1,459,900

$457

1.8

12

2015

96

$1,554,162

$452

1.5

2015

756

$1,190,000

$454

0.5%

5 Year History 300

$2,500,000

240

$2,000,000

180

$1,500,000

120

$1,000,000

Price

Units

60

$500,000

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price 70 61

300

227

60 223

250

177

174

50

200

0

14

14

15

14 11

14

13

2019

8

10

9

30

35

57

65

20 45

50

43

59

20

100

2018

30 19

2019

21

124

115

2018

32

40

150

28

+THE THEAGENCY AGENCYREPORT REPORT2019 2019

Sales

0

$0 - $999,999 $1,000,000 - $1,250,000 - $1,500,000 - $1,750,000 - $2,000,000 - $2,500,000 + $1,249,999 $1,499,999 $1,749,999 $1,999,999 $2,499,999

$0 - $999,999 $1,000,000 - $1,250,000 - $1,500,000 - $1,750,000 - $2,000,000 - $2,500,000 + $1,249,999 $1,499,999 $1,749,999 $1,999,999 $2,499,999


NO. 35


+ THE AGENCY REPORT 2019


MARKET REVIEW

NO. 37

Our Notable Sales $120,000,000 594 S. MAPLETON, BEVERLY HILLS $37,500,000 800 STRADELLA ROAD, BEVERLY HILLS $35,500,000 8408 HILLSIDE AVENUE, HOLLYWOOD HILLS


Los Angeles Prime Markets SINGLE-FAMILY RESIDENCES

2019 Market Overview After a weak start to the year, Los Angeles’ single-family market gained some momentum in the latter half of 2019. However, total annual closings finished at the lowest level in five years. Sales activity declined across all segments of the market. The median sale price fell for the first time since 2015 and the sold versus list inverted as homes sat on the market longer—a sign buyers are less willing to pay sky-high prices at the same pace seen in previous years. While scarcity in inventory continues to exacerbate housing affordability and challenge buyers at the lower end of the market, the luxury $10MM+ segment faces an

oversupply issue driven primarily by the construction boom of spec homes in recent years. The exception is the ultra-exclusive $100MM+ segment, which recorded its strongest year with three closings including a record-breaking sale at $150MM. While inventory was up at the end of 2019 over a year ago, most available inventory was skewed toward the higher end of the market. The share of active listings priced $5MM+ at the end of 2019 increased by 40% from a year ago—almost half of which are listed for $10MM+ and heavily concentrated in the spec home heavy Sunset Strip-Hollywood Hills West neighborhood.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

4,193

$1,800,000

$866

-1.6%

41

2019

1,284

$3,395,000

$966

3.7

YoY

-6.7%

-1.4%

0.7%

-

13.9%

YoY

5.8%

27.2%

4.6%

-2.4%

2018

4,496

$1,825,000

$860

-0.5%

36

2018

1,214

$2,669,500

$924

3.2

2017

4,925

$1,725,000

$824

-0.4%

39

2017

1,174

$2,990,000

$876

2.9

2016

4,771

$1,600,000

$761

-0.6%

46

2016

1,562

$2,497,000

$820

3.9

42

2015

1,509

$2,249,000

$766

3.8

2015

4,811

$1,499,000

$719

0.1%

5 Year History 2,500

$3,500,000

2,000

$2,800,000

1,500

$2,100,000

1,000

$1,400,000

Price

Units

$700,000

500

$0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

105

93 84 49

47

43

40

36 31

20 108

327

270

199

182

35

40

29

50

2019

30

407

410

925 521

836

60 2018

56

58

70

60

80

41

2,006

1,903

90

1,500 1,000

Q4-19

Median DOM by Price Range 100

2,000

0

Q3-19

Median Active Price

Sales by Price Range

500

Q2-19

Median DOM by Price

2,500

490

+THE THEAGENCY AGENCYREPORT REPORT2019 2019

Sales

10 0

$0 $999,999

$1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999 +

$0 - $999,999 $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999

2018 2019


CONDOMINIUM RESIDENCES

2019 Market Overview Condominium sales in Los Angeles’ prime markets continued to decline for the second consecutive year while prices flattened, and units sat on the market longer. Sales activity slowed across most segments of the market with the exception of the $5MM+, which recorded nearly double the number of closings compared

to 2018. Despite the surge in supply at the end of last year and recent pullback in purchasing, Los Angeles’ condominium market saw a return to tight inventory conditions.

Sales

Inventory

SALES

MEDIAN PRICE

2019

3,592

YoY

-4.3%

2018

YEAR

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

$840,000

$656

0.0%

-0.2%

3,753

$840,000

$657

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

-0.9%

39

-

18.2%

0.5%

33

MONTHS OF INVENTORY

2019

695

$1,050,000

$756

2.3

YoY

-32.9%

10.6%

6.4%

-29.8%

2018

1,035

$949,000

$711

3.3

4,321

$780,000

$615

0.3%

35

2017

672

$979,950

$713

1.9

4,163

$740,000

$573

-0.4%

44

2016

897

$865,000

$629

2.6

2015

4,434

$687,500

$538

-0.5%

44

2015

923

$835,000

$590

2.5

NO. 39

2017 2016

1,500

$1,200,000

1,250

$1,000,000

1,000

$800,000

750

$600,000

500

$400,000

250

$200,000 $0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Sales

Q4-16

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price

Sales by Price Range

Median DOM by Price Range

1,400

77

70

23

13

40

39

114

200

35

36

33

29

30

36

41 33

35

40

0

10 0

$0 - $499,999 $500,000 $749,999

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 - $5,000,000 + $999,999 $1,999,999 $2,999,999 $4,999,999

$0 - $499,999

$500,000 $749,999

$750,000 $999,999

2018 2019

20 102

352

336

2019

43

50 2018

600

44

50

60

800

49

1,094

1,026

1,036

80 62

1,000

987

1,105

1,078

90

1,200

400

Price

Units

5 Year History

$1,000,000 - $2,000,000 - $3,000,000 - $5,000,000 + $1,999,999 $2,999,999 $4,999,999


Pasadena SINGLE-FAMILY RESIDENCES

2019 Market Overview Moderating price growth and higher inventory at the start of the year helped bolster sales activity for single-family homes in Pasadena. While demand in Pasadena remains strong—homes continue to sell at a premium over their list price and in just over a month—affordability constraints following years of strong price appreciation and a pullback in foreign investment weigh on home sales. The luxury segment accounts for a large share of remaining inventory—

evidenced in the surge in median price and more moderate appreciation in price per square foot. Whereas larger homes are generally more expensive, the premium buyers pay per square foot diminishes.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

984

$1,055,000

$610

1.0%

34

2019

117

$1,958,000

$639

1.4

YoY

4.1%

0.5%

1.8%

-

13.3%

YoY

-45.1%

64.8%

5.1%

-47.2%

2018

945

$1,050,000

$600

3.9%

30

2018

213

$1,188,000

$608

2.7

2017

1,021

$984,370

$575

2.2%

30

2017

168

$1,371,500

$588

2.0

2016

1,074

$875,000

$533

1.5%

38

2016

185

$1,088,000

$560

2.1

37

2015

206

$899,000

$507

2.2

2015

1,111

$830,000

$509

1.4%

400

$2,000,000

350

$1,750,000

300

$1,500,000

250

$1,250,000

200

$1,000,000

150

$750,000

100

$500,000

50

$250,000 $0

0 Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range 288

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

11

12

9

5

27

23

134 68

2018 2019

51

49

20

22

19

16

32

31

60 27

80

2019

40

74

82

2018

31

264 171

174

Q3-18

100

150

50

Median Sale Price

Q2-18

120

250

100

Q1-18

140

350 300

Q4-17

160

377

400

Q3-17

Median DOM by Price

412

450

Q2-17

29

Q2-15

41

Q1-15

35

Q4-14

200

Price

5 Year History

Units

+THE THEAGENCY AGENCYREPORT REPORT2019 2019

Sales

0

0 $0 - $749,999 $750,000 - $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $999,999 $1,999,999 $2,999,999 $3,999,999 $4,999,999

$0 - $749,999 $750,000 $999,999

$1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Housing indicators signal a cooling market for condominiums in Pasadena. Moderating price growth did little to bolster purchase activity in 2019 and in addition to fewer sales and flattening prices, the gap between the sold and list price essentially zeroed out, while the median days spent on the market increased by 10 days. Looking at sales by price tier, the $2.5MM+ segment recorded an exceptionally strong year in 2019. The number of

closings nearly tripled while the typical amount of time spent on the market fell to three days. Although the segment accounts for a small portion of the overall market, its strength is notable. While inventory typically dips heading into a new year, the supply of condominiums in Pasadena at the end of 2019 is notably tight.

Sales

Inventory

SALES

MEDIAN PRICE

2019

547

YoY

-10.6%

2018

YEAR

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

$650,000

$525

0.7%

-0.1%

612

$645,250

$526

ACTIVE UNITS

MEDIAN PRICE

0.2%

35

-

42.9%

1.3%

25

MEDIAN PPSF

MONTHS OF INVENTORY

2019

61

$825,500

$532

1.3

YoY

-55.8%

9.5%

-1.5%

-50.5%

2018

138

$753,945

$541

2.7

657

$608,000

$492

1.7%

30

2017

99

$702,000

$553

1.8

685

$560,000

$453

0.3%

37

2016

137

$700,000

$518

2.4

2015

704

$519,000

$431

-0.3%

37

2015

149

$619,000

$457

2.5

NO. 41

2017 2016

250

$900,000

200

$720,000

150

$540,000

100

$360,000

50

$180,000

Price

Units

5 Year History

Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q4-17

Median Sale Price

180

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

$0

Q4-19

Median Active Price

299

160 257

300

Q1-18

Median DOM by Price

350

140

250

120

200

100

$0 - $299,999 $300,000 $399,999

2019 36

11

20

29

24

34

36 25

25

37

38

45

60

3

11

76

67

101

2018

80

40

4

13

6

2

50

2019

35

131

2018

17

100

88

87

150

0

Q2-17

170

0

0

$400,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,500,000 + $999,999 $2,499,999

$0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,500,000 + $2,499,999


The Valley

INCLUDES PRIME VALLEY NEIGHBORHOODS: WOODLAND HILLS, SHERMAN OAKS, ENCINO, STUDIO CITY, TARZANA, CALABASAS, VALLEY VILLAGE, TOLUCA LAKE, AND HIDDEN HILLS

SINGLE-FAMILY RESIDENCES

2019 Market Overview The Valley’s single-family market is heating up once again. Annual purchasing activity increased from the previous year, bolstered by moderate price growth and exceptionally strong fourth-quarter home buying, which helped offset the year’s slow start. Although annual home prices showed only modest appreciation compared to previous years, 2019 was a strong year for the ultra-luxury segment of the market. Nearly half of all homes sold for $10MM+ since 2015 closed this past year, including a record-breaking sale just over $22MM in the

second quarter of 2019. Looking at inventory conditions, supply is undoubtedly tighter than it was a year ago. However, the severity of the shortage is likely overstated given seasonal trends—historically, inventory has always dropped at the end of the year—and the strength of sales activity during the latter half of the year.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

2,869

$1,198,000

$514

-1.6%

48

2019

445

$1,749,000

$557

1.9

YoY

2.6%

2.8%

0.6%

-

11.6%

YoY

-45.8%

21.5%

6.8%

-41.6%

2018

2,797

$1,165,000

$511

-0.7%

43

2018

821

$1,439,000

$522

3.5

2017

3,091

$1,076,000

$477

-1.1%

47

2017

602

$1,495,000

$497

2.3

2016

2,998

$1,035,000

$458

-1.3%

52

2016

757

$1,319,000

$474

3.0

51

2015

799

$1,288,000

$455

3.2

2015

3,006

$925,000

$425

-0.7%

5 Year History 1,200

$2,100,000

1,000

$1,800,000

$1,200,000 600

Price

$1,500,000

800

Units

$900,000 400

$600,000

200

$300,000

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q4-17

Q1-18

Median Sale Price

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

71

2018

40

2019

30

36

32

43

40

58

57

59

48

52

51

10 0

$0 $999,999

$1,000,000 - $1,500,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $1,499,999 $1,999,999 $2,999,999 $3,999,999 $4,999,999

2018 2019

20 113

160

101

320

355

299

429

405

480

38

41

50

640

43

48

56

60

800

56

66

70 820

960

0

Q2-18

80

903

1,084

1,280 1,120

Q2-17

Median DOM by Price

1,006

+ THE AGENCY REPORT 2019

Sales

$0 - $999,999 $1,000,000 - $1,500,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $1,499,999 $1,999,999 $2,999,999 $3,999,999 $4,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Housing indicators suggest The Valley’s condominium market is moving toward balanced growth. Last year’s sharp pullback in sales and subsequent build-up in inventory put downward pressure on prices, helping drive the market’s recovery during 2019. Although purchasing activity picked up from the previous year, growth and volume are still below their 5-year peak. Looking more closely at The Valley’s prime sub-markets, Calabasas, Encino, and Studio City saw the largest increase in purchasing activity as well as steady to moderate price movement. The

latter, along with Valley Village, are also The Valley’s fastest appreciating sub-markets. Price growth in Studio City picked up from about a 2% year-over-year gain in 2018 to 6.4% in 2019. Meanwhile Valley Village saw a 10.3% year-over-year gain after last year’s negative price movement.

Sales

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

1,320

YoY

5.4%

2018

1,252

MEDIAN DOM

YEAR

$515,000

$410

-1.0%

-0.4%

$520,000

$412

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

-0.7%

46

-

27.8%

0.7%

36

MONTHS OF INVENTORY

2019

132

$523,000

$430

1.2

YoY

-52.0%

4.8%

9.1%

-43.3%

2018

275

$499,000

$394

2.6

1,573

$485,000

$382

0.1%

39

2017

148

$530,625

$389

1.1

1,441

$440,000

$355

-0.5%

46

2016

253

$498,000

$359

2.1

2015

1,474

$415,000

$325

-1.0%

46

2015

260

$446,645

$349

2.1

NO. 43

2017 2016

500

$600,000

400

$480,000

300

$360,000

200

$240,000

100

$120,000

Price

Units

5 Year History

$0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price

400 341

323

65

60

2019

114

150

47

41 37

37

36

31

31

36

40 2018

145

200

179

195

250

37

41

46

46

50

47

287

291

273

333

70

350 300

Q2-17

30

2019

20

100

10 16

14

35

26

50 0

0 $0 - $399,999 $400,000 $499,999

$500,000 $599,999

$600,000 $699,999

$700,000 $849,999

$850,000 - $1,000,000 + $999,999

2018

$0 - $399,999

$400,000 $499,999

$500,000 $599,999

$600,000 $699,999

$700,000 $849,999

$850,000 $999,999

$1,000,000 +


Orange County

INCLUDES ORANGE COUNTY PRIME MARKETS: NEWPORT BEACH, LAGUNA BEACH, DANA POINT, AND NEWPORT COAST

SINGLE-FAMILY RESIDENCES

2019 Market Overview Home sales in Orange County’s prime coastal markets—Dana Point, Laguna Beach, Newport Beach, and Newport Coast— strengthened in 2019 following a pullback in closings the previous year. A strong second half of home buying—boosted by a downward correction in home prices—helped the market rebound after a slow start to the year. Laguna Beach and Newport Beach recorded the strongest year-over-year increase in home sales with the latter also seeing an upward movement

in home prices. While tighter inventory conditions compared to a year ago have placed moderate upward pressure on list prices, they were below peak levels.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

1,389

$2,000,000

$842

-4.1%

46

2019

745

$2,995,000

$997

6.4

YoY

3.9%

-2.6%

-0.3%

-

9.5%

YoY

-5.5%

5.1%

2.8%

25.2%

2018

1,337

$2,053,702

$845

-4.1%

42

2018

788

$2,850,000

$971

7.1

2017

1,479

$1,990,000

$800

-3.9%

49

2017

686

$2,965,000

$999

5.6

2016

1,446

$1,822,500

$767

-3.8%

70

2016

738

$2,717,500

$922

6.1

70

2015

612

$2,499,500

$882

5.1

2015

1,429

$1,775,000

$729

-3.8%

1,400

$3,500,000

1,200

$3,000,000

1,000

$2,500,000

800

$2,000,000

600

$1,500,000

400

$1,000,000

200

$500,000

0

$0 Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17 Active Units

Sales by Price Range

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

519 478

100

41

60 48

62

65 52

34 26

24

20 32

44

96

76

75

115

40

40

60

2019

176

142

165

164

2018

55

63

320

311

80

300

0

Q4-17

120

400

100

Q3-17

Median DOM by Price

600 500

Q2-17

114

Q2-15

94

Q1-15

200

Price

5 Year History

Units

+ THE AGENCY REPORT 2019

Sales

0

$0 - $999,999 $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999 +

$0 - $999,999 $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 - $10,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999 $9,999,999

2018 2019


CONDOMINIUM RESIDENCES

2019 Market Overview Orange County’s prime coastal markets recorded a strong year of condominium sales following a return to more moderate price appreciation in 2019. Although aggregate units took longer to sell in 2019 than the previous year, the under $500k and $1MM-$1.75MM segments saw a reduction in time spent on the market. Newport Beach recorded the strongest year-overyear gain in home sales, followed by Newport Coast, which

also recorded a marked 11% increase in the median sale price. While the market ended the year on a high, exceptionally tight inventory conditions heading into 2020—down 24.3% from a year ago, the lowest in 5 years—have placed a strong upward pressure on prices which have the potential to weigh down home sales if buyers find themselves priced out.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

431

$835,000

$609

YoY

4.6%

2.6%

3.1%

2018

412

$813,750

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

-2.8%

40

-

17.6%

$591

-2.5%

34

MONTHS OF INVENTORY

2019

153

$1,075,000

$686

4.3

YoY

-24.3%

8.0%

3.5%

-7.6%

2018

202

$994,995

$663

5.9

489

$760,000

$567

-2.5%

36

2017

169

$979,000

$620

4.1

481

$740,000

$543

-2.7%

60

2016

190

$995,000

$648

4.7

2015

458

$679,000

$510

-2.7%

65

2015

176

$887,750

$601

4.6

NO. 45

2017 2016

300

$1,200,000

250

$1,000,000

200

$800,000

150

$600,000

100

$400,000

50

$200,000

0

$0 Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17 Active Units

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

74 65 51

95

60

42

40

31

30

39

41 29

30

36

40

25

20 15

24

20

2019

28

58

55

39

46

44

50

56

40

2018

41

50

80 60

Q1-18

70

90

100

Q4-17

80

115

140

Q3-17

Median DOM by Price

131

Sales by Price Range

Q2-17

53

Q1-15

120

Price

Units

5 Year History

0

10 0

$0 - $499,999 $500,000 $749,999

$750,000 $999,999

$1,000,000 - $1,250,000 - $1,500,000 - $1,750,000 + $1,249,999 $1,499,999 $1,749,999

$0 - $499,999 $500,000 $749,999

$750,000 $999,999

$1,000,000 - $1,250,000 - $1,500,000 - $1,750,000 + $1,249,999 $1,499,999 $1,749,999

2018 2019


The Desert

INCLUDES DESERT PRIME MARKETS: RANCHO MIRAGE, PALM SPRINGS, AND NORTH PALM SPRINGS

SINGLE-FAMILY RESIDENCES

2019 Market Overview The market for single-family homes in The Desert continued to remain hot in 2019. Although sales activity dipped slightly from the previous year, the pullback in home buying can largely be attributed to fewer sales at the lower end of the market. While the Desert has long been a destination for luxury vacation and investment home buyers, the last few years have marked an accelerated shift toward this buyer segment. Whereas at the start of the decade, the region attracted both luxury buyers and those looking for a bargain after prices plummeted in the housing

crash; today bargains are hard to come by. Prices continued to appreciate in 2019, reaching a five-year peak in the second quarter, with the median sale price up 5.5% from the previous year. Although price growth is slightly slower than the last two years, the continued upward movement and shorter selling time signal the market’s strength. While the luxury segment has thus far propped up the market, tight inventory and scarcity at lower price points will likely weigh on sales activity in the coming year, with many would-be buyers priced out of the area.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

1,541

$675,000

$299

-3.2%

58

2019

520

$799,000

$316

4.0

YoY

-1.3%

5.5%

4.6%

-

-3.3%

YoY

-28.8%

6.7%

3.1%

-27.8%

2018

1,562

$640,000

$286

-3.0%

60

2018

730

$749,000

$306

5.6

2017

1,598

$605,000

$274

-3.3%

66

2017

590

$679,000

$268

4.4

2016

1,426

$569,000

$265

-4.0%

74

2016

753

$625,000

$254

6.3

79

2015

757

$599,900

$253

7.0

2015

1,291

$556,000

$252

-4.0%

1,000

$900,000

900

$810,000

800

$720,000

700

$630,000

600

$540,000

500

$450,000

400

$360,000

300

$270,000

200

$180,000

100

$90,000

0

Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Median Active Price

75 69 62

69

70 55

61

66

64 54

61 272

237

53

51

82

61

100

2018

40

2018

2019

30

2019

20

109

120

198

164

256

212

200

57

50

54

60

58

673 615

70

400

$0

Q4-19

80

500

0

Q1-18

Median Sale Price

600

300

Q4-17

Median DOM by Price

800 700

Q2-17

10 0

$0 - $599,999 $600,000 $699,999

$700,000 $799,999

$800,000 $899,999

$900,000 - $1,000,000 - $2,000,000 + $999,999 $1,999,999

Price

5 Year History

Units

+ THE AGENCY REPORT 2019

Sales

$0 - $599,999

$600,000 $699,999

$700,000 $799,999

$800,000 $899,999

$900,000 $999,999

$1,000,000 - $2,000,000 + $1,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Sales activity in 2019 for The Desert’s condominium market contracted more sharply than in the single-family market; however, housing indicators broadly suggest the pullback was supply rather than demand driven. Low inventory heading into 2019 in conjunction with strong price growth and reduced selling time during the year signal demand was strong, but inventory—particularly at more affordable price points—was scarce. In other words, buyers were challenged with both what they could find and what they could afford, a trend likely

to continue in the upcoming year given where inventory conditions were heading at the end of 2019. Looking at the year’s closings by segment, the low end recorded the sharpest fall in transactions, while the very top of the market recorded an uptick in closings and reduced time spent on the market.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

1,424

$275,000

$209

YoY

-5.9%

5.8%

8.2%

2018

1,513

$260,000

$193

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

-2.8%

49

-

-3.9%

-3.0%

51

MEDIAN PPSF

MONTHS OF INVENTORY

2019

311

$349,000

$229

2.6

YoY

-31.9%

18.3%

11.3%

-27.7%

2018

457

$295,000

$206

3.6

1,553

$235,000

$176

-3.9%

61

2017

550

$299,000

$191

4.2

1,328

$225,000

$169

-4.8%

77

2016

685

$269,000

$182

6.2

2015

1,306

$221,375

$169

-4.4%

70

2015

735

$269,900

$180

6.8

NO. 47

2017 2016

1,000

$400,000

800

$320,000

600

$240,000

400

$160,000

200

$80,000

0

$0 Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

60

63 53

53

59

58 41

45

50

316

303

350

54

60

49

446

70

400

300

150

30

2018 22

2019

29

181

177

200

2018

34

40

250

17

10 11

32

50

27

65

81

20

100

0

Q3-17

Median DOM by Price

405

401

450

475

Sales by Price Range

Q2-17

49

Q4-14

500

Price

Units

5 Year History

0 $0 - $199,999 $200,000 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $599,999

$600,000 $699,999

$700,000 +

$0 - $199,999

$200,000 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $599,999

$600,000 $699,999

$700,000 +

2019


+THE THEAGENCY AGENCYREPORT REPORT2019 2019


MARKET REVIEW

NO. 49

Our Notable Sales $4,400,000 7588 N. 66TH STREET, SCOTTSDALE $4,000,000 5430 E. SAPPHIRE LANE, SCOTTSDALE $3,450,000 6166 N. SCOTTSDALE ROAD, SCOTTSDALE


Scottsdale & Paradise Valley SINGLE-FAMILY RESIDENCES

2019 Market Overview Scottsdale and Paradise Valley continue to experience a vibrant housing market. Although the pace of growth has moderated, 2019 was the strongest of the last five years. Both home sales and median prices hit their five-year peak, bolstered by strong sales activity in the last two quarters of the year. Despite continued price growth, homes continued to sell in about two months signaling strong demand for homes. Looking at the market by price tier, most segments recorded either steady or increased sales activity. The $5MM+ segment saw the strongest growth with transaction volume more than doubling and homes selling

significantly faster than the previous year. Although inventory has steadily declined since 2017, current supply conditions are exceptionally tight with the number of active units down 31% from the previous year. While there is a fair amount of new construction inventory, a large share of what is currently available is skewed toward the luxury segment—evidenced in the surge in median active prices.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

5,866

$625,000

$247

-3.1%

60

2019

1,741

$1,300,000

$315

3.6

YoY

1.8%

4.2%

5.3%

-

-1.6%

YoY

-31.0%

37.6%

15.9%

-32.2%

2018

5,763

$600,000

$235

-3.0%

61

2018

2,524

$945,000

$272

5.3

2017

5,622

$555,000

$222

-3.1%

67

2017

2,588

$950,000

$263

5.5

2016

5,262

$517,500

$212

-3.5%

69

2016

2,846

$895,000

$254

6.5

69

2015

2,812

$875,000

$247

6.6

2015

5,144

$500,000

$204

-3.6%

4,000

$1,400,000

3,500

$1,225,000

3,000

$1,050,000

2,500

$875,000

2,000

$700,000

1,500

$525,000

1,000

$350,000

500

$175,000 $0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price

3,677

300 257

3,722

Sales by Price Range 4,000

Price

5 Year History

Units 3,500

250

50

142

124

119

108

77

91

46

20

40

28

73

0 $0 $749,999

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $999,999 $1,999,999 $2,999,999 $3,999,999 $4,999,999

$0 - $749,999 $750,000 $999,999

2018 2019

49

78

100

75

101

150

50 78

214

500

244

1,000

896

2019 877

2018

1,500 890

2,000

138

200

2,500

0

182

3,000

824

+ THE AGENCY REPORT 2019

Sales

$1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Scottsdale and Paradise Valley recorded a pullback in annual condominium sales, moderate (though slowing) price growth and a slight increase in the number of days spent on the market during 2019. While fourth quarter sales hit a five-year peak for the three-month period, it was not enough to offset a weak first six months of the year. The decline in sales during 2019 can, in part, be attributed to tighter supply conditions at the end of 2018, a trend that has only been intensified since then with the number of active units dwindling down to

just 318—a 35% decrease from the previous year. As supply tightens, the market typically sees price growth as buyers are forced to compete for what little is available, but supply constraints also suppress sales with buyers having fewer options to purchase.

Sales

Inventory

SALES

MEDIAN PRICE

2019

1,616

YoY

-1.5%

2018

1,641

YEAR

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

$231,000

$215

5.5%

6.5%

$219,000

$202

ACTIVE UNITS

MEDIAN PRICE

-2.3%

47

-

11.9%

-2.4%

42

MEDIAN PPSF

MONTHS OF INVENTORY

2019

318

$395,000

$300

2.4

YoY

-35.0%

47.4%

29.0%

-34.0%

2018

489

$268,000

$232

3.6

1,629

$199,000

$183

-2.6%

43

2017

519

$284,900

$228

3.8

1,441

$180,000

$167

-3.0%

59

2016

585

$250,000

$203

4.9

2015

1,360

$174,000

$159

-3.5%

58

2015

655

$225,000

$187

5.8

NO. 51

2017 2016

1,000

$500,000

800

$400,000

600

$300,000

400

$200,000

200

$100,000

Price

Units

5 Year History

$0

0 Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price 140

1,212

1,400

1,275

Sales by Price Range

Q2-17

120

1,000

100

0

73

76

61

46

59

58

5

4

53

2019

52

32

20 21

77

63

71

67

200

178

147

40

2018

19

400

60 42

2019

39

600

69

80 2018

71

800

90

102

1,200

117

Q4-14

0 $0 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,500,000 + $999,999 $2,499,999

$0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,500,000 + $2,499,999


+THE THEAGENCY AGENCYREPORT REPORT2019 2019


MARKET REVIEW

NO. 53

Our Notable Sales $4,000,000 292 LAS CLAVELLINAS, PUNTA DE MITA $2,200,000 CASA VISTA BONITA, LOS CABOS $2,050,000 TERRAZAS 368, LOS CABOS


Punta de Mita & Puerto Vallarta SINGLE-FAMILY RESIDENCES

2019 Market Overview An exceptionally strong third and fourth quarter helped cap off a strong year for home sales in Punta de Mita and Puerto Vallarta. Annual closings reached a five year peak—up 16.3% from the previous year—however, it is important to note that because the MLS does not capture all real estate activity in the area, the data does not paint a comprehensive picture of the local housing market. Instead, it provides insight in understanding trends and allows for inferences to be made when gauging the market’s movement. Looking at price trends, the strongly opposing movement in the median sale price and price per square foot

reflect the strength of the under $400,000 segment of the market. Buyers in this price range are not only paying a premium for new construction—primarily at the new Ebano community—but also for more compact units with a cheaper absolute price. While the luxury $1MM+ segment strengthened in 2019, much of the inventory heading into the new year is skewed toward the lower end of the market. Although inventory is steady with levels recorded a year ago, prices are significantly lower.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

150

$196,500

$97

-4.9%

163

2019

219

$259,000

$114

17.5

YoY

16.3%

-8.6%

5.9%

-

-44.2%

YoY

1.4%

-34.4%

-8.5%

-12.8%

2018

129

$215,000

$91

-6.5%

292

2018

216

$395,000

$124

20.1

2017

97

$200,000

$87

-8.2%

225

2017

271

$395,000

$124

33.5

2016

90

$150,000

$75

-8.4%

251

2016

291

$299,900

$105

38.8

281

2015

337

$234,000

$91

94.0

2015

43

$234,000

$104

-13.0%

400

$600,000

350

$525,000

300

$450,000

250

$375,000

200

$300,000

150

$225,000

100

$150,000

50

$75,000 $0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q4-17

Median Sale Price

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

647

736 557

78

600

200 10

5

390

332

331

348

325

2019

100

3

5

8

13

10

8 5

9

14

18

20

2018

106

30

305

300

262

400

2019

217

2018

40

126

50

266

500

60

0

Q2-18

700

70

10

Q1-18

800

90 80

Q2-17

Median DOM by Price

93

100

Price

5 Year History

Units

+ THE AGENCY REPORT 2019

Sales

0 $0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $3,000,000 + $999,999 $2,999,999

$0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $3,000,000 + $2,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview Unlike the single-family market, condominium sales in Punta de Mita and Puerto Vallarta fell in 2019 across most segments of the market. Low inventory throughout much of the year combined with a seasonal slowdown in the fourth quarter were two contributing factors to the year’s slow sales. Although price growth moderated in 2019, following last year’s double-

digit gains, the continued upward movement likely put a strain on many prospective buyers as condos that did sell took about 10 days longer than the previous year.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

508

$260,284

$220

YoY

-20.5%

4.7%

2.3%

2018

639

$248,660

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

-5.0%

222

-

5.0%

$215

-5.6%

211

MONTHS OF INVENTORY

2019

717

$335,000

$258

16.9

YoY

1.8%

12.8%

6.1%

28.1%

2018

704

$297,000

$243

13.2

554

$218,250

$181

-6.2%

241

2017

890

$305,512

$260

19.3

375

$213,281

$179

-7.7%

285

2016

846

$288,906

$226

27.1

2015

262

$231,500

$166

-8.8%

266

2015

712

$269,500

$189

32.6

NO. 55

2017 2016

1,000

$400,000

800

$320,000

600

$240,000

400

$160,000

200

$80,000

Price

Units

5 Year History

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

450

402

250

Q3-17

Median DOM by Price

235

Sales by Price Range

Q2-17

$0 - $199,999 $200,000 $299,999

$300,000 $399,999

60

$400,000 $499,999

$500,000 $749,999

239

258

281 224

138

161

247

260

215

2018

8

4

7

100 12

0

200 150

49

50

48

57

2019

146

102

100

2018

178

250

117

100

233

300 150

252

350

171

177

400 200

$750,000 - $1,000,000 + $999,999

50 0 $0 - $199,999 $200,000 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 +

2019


Los Cabos SINGLE-FAMILY RESIDENCES

2019 Market Overview Los Cabos continues to experience a strong housing market despite the decline in annual sales volume in 2019. Although closings recorded in the MLS do not capture all real estate activity, they are a useful indicator of market performance. The year started on a high note with home sales during the first quarter hitting a five-year peak for the three-month period. While a large share of first-quarter closings were concentrated at the lower end of the market, demand was strong across the board. As the year continued, inventory declined rapidly while prices appreciated in response to not only increased competition among buyers but also the growing relative share of high-priced homes,

which typically take longer to sell. With supply constrained and limited, home sales waned through the rest of the year despite strong demand from buyers. Although inventory once again picked up at the close of 2019, it is still 22.5% lower than a year ago. The strength of the single-family market is instead highlighted by the surge in median prices and sharply reduced time spent on the market. Despite the strong upward movement in prices, buyers saw some relief with homes selling about 4.6% below their list price, compared to selling at a premium during the previous year.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

300

$300,000

$144

-4.6%

232

2019

685

$699,000

$268

27.4

YoY

-11.8%

20.0%

34.7%

-

-12.6%

YoY

-22.5%

33.1%

66.4%

-12.2%

2018

340

$250,000

$107

1.5%

266

2018

884

$525,000

$161

31.2

2017

348

$241,875

$108

-7.9%

285

2017

824

$450,000

$144

28.4

2016

289

$240,000

$110

-9.9%

297

2016

903

$405,000

$141

37.5

239

2015

982

$399,000

$138

47.3

2015

249

$305,000

$115

-8.8%

5 Year History 1,200

$1,000,000 $900,000

1,000

$800,000 $700,000

800

$600,000 $500,000

600

Price

Units

$400,000 400

$300,000 $200,000

200

$100,000

0

$0 Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Sales

Q4-16

Q1-17

Active Units

Q3-18

Q4-18

Q1-19

Q2-19

2019 33

17 7

13

21

17

8

9

20

200

404 343

348 243

297

326

315

256

2018 2019

150 100

16

28

40

Q4-19

216

250 2018

241

99

300

60

Q3-19

Median Active Price

350

71

80

Median Sale Price

Q2-18

400

120 100

Q1-18

450

160 140

Q4-17

185

180

Q3-17

Median DOM by Price

168

Sales by Price Range

Q2-17

314

Q2-15

299

Q1-15

303

Q4-14

133

+ THE AGENCY REPORT 2019

Sales

50 0

0 $0 - $249,999 $250,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 + $999,999 $1,999,999 $2,999,999

$0 - $249,999 $250,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 + $999,999 $1,999,999 $2,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview In contrast to mixed housing indicators in the single-family space, Los Cabos’ condominium market showed clear signs of strength in 2019. The booming market recorded a 32.7% increase in condominium closings, primarily driven by strong growth in the under $500,000 segment. The median sale price made moderate gains, while price per square foot sky-rocketed, reflecting the premium buyers pay for new construction as well as for more compact units. Moreover, units sold faster across all segments of the market, with the median number of days down by just over three months.

Whereas Los Cabos faces a shortage of single-family homes heading into 2020, the condominium market saw an uptick in the number of units for sale at the year’s end driven by an influx of new developments.

Sales

Inventory

SALES

MEDIAN PRICE

2019

377

YoY

32.7%

2018

YEAR

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

$264,111

$206

2.6%

22.2%

284

$257,500

ACTIVE UNITS

MEDIAN PRICE

-6.1%

165

-

-37.4%

$168

-7.0%

264

MEDIAN PPSF

MONTHS OF INVENTORY

2019

745

$328,700

$264

23.7

YoY

4.2%

-13.5%

17.6%

-21.5%

2018

715

$380,000

$225

30.2

315

$200,000

$144

-6.0%

239

2017

702

$372,500

$203

26.7

268

$196,250

$156

-6.9%

309

2016

713

$325,000

$208

31.9

2015

195

$227,000

$167

431.7%

309

2015

781

$288,000

$192

48.1

NO. 57

2017 2016

900

$450,000

800

$400,000

700

$350,000

600

$300,000

500

$250,000

400

$200,000

300

$150,000

200

$100,000

100

$50,000

Price

Units

5 Year History

$0

0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q2-17

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price

250

460

204

515

600 500

$0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

291

329 236

231 122

178

143

132

214

7

10

5

0

$750,000 - $1,000,000 - $2,500,000 + $999,999 $2,499,999

0 $0 - $299,999 $300,000 $399,999

2018 2019

100 10

19

10

37

32

26

33

67

200

37

50

300

2019

197

2018 100

327

400

150

339

164

200

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,500,000 + $2,499,999


+THE THEAGENCY AGENCYREPORT REPORT2019 2019


MARKET REVIEW

NO. 59

Our Notable Sales $6,850,000 10738 N. SUMMIT VIEW DRIVE, PARK CITY $5,995,000 1495 RED FOX, PARK CITY $5,700,000 103 WHITE PINE CANYON ROAD, PARK CITY


Park City SINGLE-FAMILY RESIDENCES

2019 Market Overview After a sluggish start to 2019, the market for single-family homes in Park City ended the year on an upswing with fourth-quarter closings in 2019 at a five-year high for the three-month period. Moderating home price growth helped bolster sales activity across Park City with the median sale price in 2019 up about 4% year-over-year compared to the previous two years, which saw double-digit price gains as high as 17%. Although annual home price growth lost momentum, buyers still faced sky-high prices in 2019, with the median sale price hitting a five-year peak in the first quarter of the year. While 2019 was a strong year for Park

City—evidenced in increased closings, moderate price growth, and reduced selling time—the market for single-family homes faces some challenges in the year ahead. While likely to contribute to continued price growth, tight inventory at the end of 2019—down about 26% from the previous year—will also impede future home sales as buyers are faced with fewer available options. Moreover, much of the remaining inventory heading into 2020 is skewed toward the luxury segment of the market—evidenced in the strong upward movement in the median active price.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

543

$1,500,000

$383

-4.6%

52

2019

297

$3,295,000

$599

6.6

YoY

5.2%

3.9%

0.5%

-

-8.0%

YoY

-25.9%

27.0%

13.2%

-29.6%

2018

516

$1,443,500

$382

-4.2%

57

2018

401

$2,595,000

$529

9.3

2017

560

$1,232,290

$339

-3.8%

50

2017

366

$2,500,000

$537

7.8

2016

499

$1,100,000

$324

-3.9%

49

2016

389

$2,300,000

$482

9.4

52

2015

401

$2,350,000

$458

9.9

2015

486

$1,047,750

$306

-3.4%

5 Year History 500

$3,500,000

400

$2,800,000

300

$2,100,000

200

$1,400,000

100

$700,000

Price

Units

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Sales

Q4-16

Q1-17

Active Units

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

300 251

180

Q2-17

Median DOM by Price

168

Sales by Price Range 160

46

143

68

44

31

21

17

21

50

7

13 8

9

20

17

16

33

28

40

0

0 $0 - $249,999 $250,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,000,000 - $3,000,000 + $999,999 $1,999,999 $2,999,999

$0 - $749,999 $750,000 $999,999

2018 2019

100 67

60

150 111

2019

149

99

2018

23

80

200

71

100

180

120

216

250

17

140

133

+ THE AGENCY REPORT 2019

Sales

$1,000,000 - $2,000,000 - $3,000,000 - $4,000,000 - $5,000,000 + $1,999,999 $2,999,999 $3,999,999 $4,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview An exceptionally strong fourth quarter of closings helped cap off Park City’s strongest year of condominium sales in five years. The booming market recorded a 21.6% increase in closings while prices continued their upward trend. The median sale price appreciated a considerable 9.4% from 2018, but price growth was slower than last year’s double-digit gains. While the strength of the market, particularly the luxury segment is notable, it is also important to understand within

the context that it is somewhat skewed by bulk closing at many of the city’s new developments. Looking ahead, Park City is faced with tighter and generally more expensive inventory. And while the median list price is still below peak levels, price per square foot is at a five-year high, reflecting the large share of new construction inventory that garners a premium on a persquare-foot basis.

Sales

Inventory

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

2019

714

$700,000

$498

YoY

21.6%

9.4%

6.4%

2018

587

$640,000

YEAR

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

-2.9%

43

-

16.2%

$468

-3.0%

37

MONTHS OF INVENTORY

2019

361

$986,965

$719

6.1

YoY

-30.6%

14.8%

9.6%

-42.9%

2018

520

$860,000

$656

10.6

656

$577,000

$413

-3.0%

44

2017

441

$1,300,000

$681

8.1

626

$538,500

$383

-3.0%

35

2016

517

$1,250,000

$644

9.9

2015

694

$450,000

$336

-2.5%

40

2015

508

$1,150,000

$665

8.8

NO. 61

2017 2016

700

$1,400,000

600

$1,200,000

500

$1,000,000

400

$800,000

300

$600,000

200

$400,000

100

$200,000

0

$0 Q4-14

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Q3-17

Q4-17

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

Median DOM by Price 90

100

61 41

2019 28 17

20

26

34

40

16

40

2018

49

60

26

62

2019 57

66

76

2018

64

61

55

80

33

89

89

98

120

65

80

113

140

84

138

160

98

175 158

180

60

Q2-17

120

200

100

20 0

Price

Units

5 Year History

0 $0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,500,000 + $999,999 $2,499,999

$0 - $299,999 $300,000 $399,999

$400,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,500,000 + $2,499,999


+THE THEAGENCY AGENCYREPORT REPORT2019 2019


NO. 63

MARKET REVIEW

Our Notable Sales $6,150,000 19575 COLLINS AVENUE #23, BOCA RATON $5,100,000 82 LIGHTHOUSE DRIVE, JUPITER $4,650,000 1510 BAY DRIVE, BOCA RATON


South Florida

INCLUDES SOUTH FLORIDA PRIME MARKETS: MIAMI, MIAMI BEACH, BOCA RATON, PALM BEACH, AND FT. LAUDERDALE

SINGLE-FAMILY RESIDENCES

2019 Market Overview Home sales activity in South Florida waned in 2019 with the market recording a considerable pullback in closings under $500,000. Given the fairly rapid pace of sales at this price range—around four to five weeks—the decline can in part be attributed to a shortage of supply at this end of the market. Looking more broadly, prices in 2019 continued an upward trend with a typical home selling in about the same number of days as the previous year. The most significant shift in the market is the considerable decrease in inventory remaining at the end of 2019. Much of the inventory available to buyers heading into the near year is skewed toward the higher end of the market,

and although new construction has eased somewhat, a larger relative share (currently about 9%) of inventory is accounted for by new homes that garner price premiums. Moreover, compared to a year ago, a larger number and relative share of inventory is skewed toward the top of the market.

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

ACTIVE UNITS

MEDIAN PRICE

MEDIAN PPSF

MONTHS OF INVENTORY

2019

11,185

$392,000

$218

-4.3%

44

2019

4,987

$629,000

$290

5.4

YoY

-7.3%

4.5%

4.5%

-

4.8%

YoY

-31.9%

25.8%

16.8%

-26.5%

2018

12,064

$375,000

$208

-4.4%

42

2018

7,318

$499,900

$248

7.3

2017

11,780

$358,000

$194

-3.9%

43

2017

7,472

$489,000

$234

7.6

2016

12,715

$327,500

$175

-3.9%

72

2016

7,834

$452,250

$216

7.4

63

2015

8,236

$389,000

$187

7.4

2015

13,446

$298,000

$157

-3.3%

5 Year History 10,000

$750,000

8,000

$600,000

6,000

$450,000

4,000

$300,000

2,000

$150,000

Price

Units

0

$0 Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Sales by Price Range

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q3-19

Q4-19

Median Active Price

195

6,362

6,762

Q1-18

200 151

5,000

136

110

103

83 70 49 37

35

32

0

$0 $249,999

$250,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,500,000 - $5,000,000 + $999,999 $2,499,999 $4,999,999

$0 - $249,999 $250,000 $499,999

$500,000 $749,999

2018 2019

139

202

214

27

50

832

798

584

556

1,000

100 60

1,643

1,604

2019

1,994

2018

3,000

132

150

4,000

0

Q4-17

250

6,000

2,000

Q3-17

Median DOM by Price

8,000 7,000

Q2-17

179

Q4-14

1,423

+ THE AGENCY REPORT 2019

Sales

$750,000 $999,999

$1,000,000 - $2,500,000 - $5,000,000 + $2,499,999 $4,999,999


CONDOMINIUM RESIDENCES

2019 Market Overview South Florida’s condominium market showed signs of cooling in 2019. In addition to slowing sales, home price growth lost momentum—up just 1.2% year-over-year compared to steady 6%-7% gains between 2015 to 2018. Like the single-family market, the condominium space recorded a significant drop in inventory at the end of 2019—down 38.5% from the previous year. While the supply of condominiums is down across various price points, buyers in the under $500K segment are

particularly hard hit with the inventory in this range, down almost 50% from a year ago. One segment that continues to show strength is the $2.5MM+ segment of the market, which recorded a slight uptick in sales and substantial decrease in selling time, although units still take a few months to sell.

Sales

Inventory

YEAR

SALES

MEDIAN PRICE

MEDIAN PPSF

SOLD VS. LIST

MEDIAN DOM

YEAR

2019

13,112

$253,000

$221

YoY

-7.9%

1.2%

1.2%

2018

14,229

$250,000

$218

ACTIVE UNITS

MEDIAN PRICE

-5.4%

59

-

-1.7%

-5.1%

60

MEDIAN PPSF

MONTHS OF INVENTORY

2019

11,042

$435,000

$410

10.1

YoY

-38.5%

20.9%

20.8%

-33.3%

2018

17,958

$359,900

$339

15.1

13,173

$235,000

$200

-5.4%

65

2017

17,405

$349,000

$337

15.9

13,689

$220,000

$186

-5.0%

84

2016

16,287

$335,000

$332

14.3

2015

15,967

$205,000

$175

-4.4%

70

2015

14,587

$320,000

$323

11.0

NO. 65

2017 2016

$500,000

16,000

$400,000

12,000

$300,000

8,000

$200,000

4,000

$100,000

Price

20,000

$0

0 Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

Sales

Q1-17

Active Units

Q1-18

Median Sale Price

Q2-18

Q3-18

Q4-18

Q1-19

Q2-19

Q4-19

Median Active Price

160

106

106

107

120 3,000

105

4,000

2018

2018 66 45

45

50

44 178

174

673

2019

61

80

40

577

496

1,000

463

1,182

1,009

1,397

2019 1,148

2,000

Q3-19

173 4,612

5,000

Q4-17

200 4,549

6,000

Q3-17

Median DOM by Price

5,188

5,695

Sales by Price Range

Q2-17

124

Q1-15

113

Q4-14

136

Units

5 Year History

0

0 $0 - $124,999 $125,000 $249,999

$250,000 $499,999

$500,000 $749,999

$750,000 - $1,000,000 - $2,500,000 + $999,999 $2,499,999

$0 - $124,999 $125,000 $249,999

$250,000 $499,999

$500,000 $749,999

$750,000 $999,999

$1,000,000 - $2,500,000 + $2,499,999


+THE THEAGENCY AGENCYREPORT REPORT2019 2019


MARKET REVIEW

NO. 67

Our Notable Sales $11,500,000 TRITON VILLA, 203 LONG BAY BEACH DRIVE $5,000,000 STARGAZER, 29 INTERNATIONAL DRIVE $4,900,000 5107 WYMARA VILLAS


Turks & Caicos YEAR END DATA

Q3 2019

Q3 2018

Total Number of Sales

73

Total Number of Sales

96

Total Volume

$85,459,000.00

Total Volume

$64,705,600.00

Average

$1,170,671.23

Average

$674,016.67

Median

$260,000.00

Median

$232,500.00

SINGLE FAMILY HOME

SINGLE FAMILY HOME

Total Number of Sales

20

Total Number of Sales

20

Total Volume

$65,711,000.00

Total Volume

$28,574,000.00

Average

$3,285,550.00

Average

$1,428,700.00

Median

$1,172,500.00

Median

$571,000.00

+ THE AGENCY REPORT 2019

CONDOMINIUM

CONDOMINIUM

Total Number of Sales

15

Total Number of Sales

23

Total Volume

$12,008,500.00

Total Volume

$22,538,100.00

Average

$800,566.67

Average

$979,917.39

Median

$530,000.00

Median

$455,000.00

VACANT L AND

VACANT L AND

Total Number of Sales

35

Total Number of Sales

45

Total Volume

$6,714,500.00

Total Volume

$11,619,500.00

Average

$191,842.86

Average

$258,211.11

Median

$110,000.00

Median

$110,000.00

Luxury Market $1M+

Luxury Market $1M+

Total Number of Sales

17

Total Number of Sales

19

Total Volume

$71,179,000.00

Total Volume

$46,061,000.00

Average

$4,187,000.00

Average

$2,558,944.44

Median

$1,875,000.00

Median

$1,975,000.00

SINGLE FAMILY HOME

SINGLE FAMILY HOME

Total Number of Sales

11

Total Number of Sales

8

Total Volume

$61,955,000.00

Total Volume

$24,256,000.00

Average

$5,632,272.73

Average

$3,032,000.00

Median

$3,100,000.00

Median

$2,800,000.00

CONDOMINIUM

Total Number of Sales

CONDOMINIUM

5

Total Number of Sales

7

Total Volume

$7,974,000.00

Total Volume

$17,130,000.00

Average

$1,594,800.00

Average

$2,447,142.86

Median

$1,650,000.00

Median

$2,200,000.00

VACANT L AND

VACANT L AND

Total Number of Sales

1

Total Number of Sales

3

Total Volume

$1,250,000.00

Total Volume

$4,675,000.00

Average

$1,250,000.00

Average

$1,558,333.33

Median

$1,250,000.00

Median

$1,300,000.00


Total 2019

Total 2018

Total Number of Sales

330

Total Number of Sales

346

Total Volume

$330,362,500.00

Total Volume

$250,809,545.00

Average

$977,403.85

Average

$724,883.08

Median

$309,500.00

Median

$272,500.00

SINGLE FAMILY HOME

SINGLE FAMILY HOME

Total Number of Sales

97

Total Number of Sales

74

Total Volume

$213,998,000.00

Total Volume

$119,951,496.00

Average

$2,206,164.95

Average

$1,620,966.16

Median

$725,000.00

Median

$735,000.00

CONDOMINIUM

CONDOMINIUM

Total Number of Sales

63

Total Number of Sales

78

Total Volume

$48,953,000.00

Total Volume

$71,889,100.00

Average

$777,031.75

Average

$921,655.13

Median

$445,000.00

Median

$436,250.00

VACANT L AND

VACANT L AND

144

Total Number of Sales

171

Total Volume

$39,120,000.00

Total Volume

$47,929,950.00

Average

$271,666.67

Average

$280,292.11

Median

$110,000.00

Median

$87,000.00

Luxury Market $1M+

Luxury Market $1M+

Total Number of Sales

69

Total Number of Sales

65

Total Volume

$254,534,500.00

Total Volume

$179,226,262.00

Average

$3,688,905.80

Average

$2,757,327.11

Median

$2,325,000.00

Median

$2,325,000.00

SINGLE FAMILY HOME

SINGLE FAMILY HOME

Total Number of Sales

40

Total Number of Sales

31

Total Volume

$190,454,500.00

Total Volume

$101,095,996.00

Average

$4,761,362.50

Average

$3,261,161.16

Median

$3,050,000.00

Median

$2,600,000.00

CONDOMINIUM

CONDOMINIUM

Total Number of Sales

18

Total Number of Sales

22

Total Volume

$29,805,000.00

Total Volume

$51,048,600.00

Average

$1,655,833.33

Average

$2,320,390.91

Median

$1,487,500.00

Median

$2,150,000.00

VACANT L AND

VACANT L AND

Total Number of Sales

7

Total Number of Sales

10

Total Volume

$16,635,000.00

Total Volume

$23,815,000.00

Average

$2,376,428.57

Average

$2,381,500.00

Median

$1,750,000.00

Median

$2,450,000.00

NO. 69

Total Number of Sales


THE AGENCY REPORT 2019


NO. 71


THE AGENCY REPORT 2019

TheAgencyRE.com

Profile for The Agency

The Agency 2019 Annual Report  

The Agency’s 2019 Annual Report offers valuable insight into last year’s market performance as a whole, along with a close analysis of all t...

The Agency 2019 Annual Report  

The Agency’s 2019 Annual Report offers valuable insight into last year’s market performance as a whole, along with a close analysis of all t...

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