Micro Market Report Los Angeles & Miami Issue Number six - august 2015
1
Table of Contents WEA MEssage
3
zip Code 90210 - Beverly Hills
4
zip Code 90211 - beverly hills
5
zip Code 90069 - Sunset strip
6
zip Code 90077 - Bel Air
7
zip Code 90046 - West Hollywood
8
zip Code 90265 - malibu
9
zip Code 90272 - Pacific palisades
10
zip Code 90024 - westwood
11
zip Code 90049 - brentwood
12
zip Code 90025 - west LA
13
zip Code 90201/90402 - santa monica
14
Zip COde 90005 - Hancock Park
15
Zip Code 90027 - Los Feliz
16
Zip Code 90064 - Cheviot Hills
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zip Code 90291 - Venice
18
Zip Code 90292 - Marina del Rey
19
Miami Market Overview
20
About WEA
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Data provided by First American Title Co. Through L.A. County records for sales exceeding $1 million 2
Compare Los Angeles Real Estate Brokerages
A Message From WEA How Many Agents Do You Need In reality, you need ONE. One very good, and smart, and dedicated one. The fact that some companies have hundreds and, in several cases, thousands of agents is of no consequence to you. Relationships are the key especially in high worth residential real estate, and whether buyer or seller, your relationship will be with an individual and not the other 349 agents in that company. It does not matter how many introductions are promised through others in an organization. You will have chosen the one who convinces you that they are the best to provide you with the expertise and service that you have earned. Once that decision has been made you are in a one-on-one situation. Your success is reliant on this and this alone. This holds particularly true in luxury real estate. At WEA we confidently feel that our agents are your best representatives. Our core has been trained and has experienced just about any type of transaction that comes their way. And standing behind them is local ownership with decades and billions of dollars of experience to guide them through the most difficult circumstance. I don’t think Warren Buffet or Henry Silverman is available to personally advise the agents at the brokerage companies they control. But at WEA both Shapiro and Rappaport (two of the most successful agents in the history of residential real estate) are available 24/7. This not only helps our agents overcome any obstacles but it helps you as well. It’s one of the reasons why we’ve been named a leader in luxury real estate sales consistently in the Los Angeles Business Journal (CLICK HERE TO VIEW) and many other acknowledgements. When another company tells you how many agents they have the thought should immediately turn to “do they have the right ONE for me.” We think we do. Try us, test us and then choose us. Stephen Shapiro Co-Founder, Westside Estate Agency 3
90210 Avg. Price Per Transaction
August 2015
8
Number of Sales
Price in millions
7
HHHHHHHHHHHH HHHHHHHHHH
6 5 4
Avg. Price per transaction
3
$
2 1 0
Aug.
2007
2010
2014
2015
6,943,864
August 2007 Number of Sales
number of sales
HHHHHHH Avg. Price per transaction $
3,171,000
August 2015 vs 2007 Aug.
2007
2015
+214% Sales
+119% Price
2010
2014
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
22
-4%
$6,943,864
+22%
Aug. 2014
23
+188%
$5,678,217
+25%
Aug. 2010
8
+14%
$4,531,625
+43%
Aug. 2007
7
n/a
$3,171,000
n/a
© Westside Estate Agency
4
90211 Avg. Price Per Transaction
August 2015
2.5
Price in millions
Number of Sales 2.0
HHHHHH
1.5
Avg. Price per transaction $
1,742,250
1.0 0.5 0.0
Aug.
2007
2010
2014
2015
August 2007 Number of sales
number of sales
H Avg. Price per transaction $
2,300,000
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+500% Sales
-24% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
6
-14%
$1,742,250
+1%
Aug. 2014
7
+250%
$1,719,786
+29%
Aug. 2010
2
+100%
$1,330,000
-42%
Aug. 2007
1
n/a
$2,300,000
n/a
© Westside Estate Agency
5
90069 Avg. Price Per Transaction
August 2015
3.0
Price in millions
Number of Sales 2.5
HHHHHHHHHHHH HHHHH
2.0 1.5
Avg. Price per transaction
1.0
$
0.5
2,496,733
0.0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
HHHHHHHHH Avg. Price per transaction $
2,885,000
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+89% Sales
-13% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
17
+13%
$2,496,733
-14%
Aug. 2014
15
+650%
$2,900,600
+231%
Aug. 2010
2
-78%
$875,000
-70%
Aug. 2007
9
n/a
$2,885,000
n/a
© Westside Estate Agency
6
90077 Avg. Price Per Transaction
August 2015
Price in millions
4.0
Number of Sales
3.5
HHHHHHHHHH
3.0 2.5 2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
Aug. 2007
2010
2014
2015
3,724,293
August 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
2,180,000
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+150% Sales
+71% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
10
-23%
$3,724,293
+6%
Aug. 2014
13
+225%
$3,511,115
+23%
Aug. 2010
4
0%
$2,853,000
+31%
Aug. 2007
4
n/a
$2,180,000
n/a
© Westside Estate Agency
7
90046 Avg. Price Per Transaction 2.0
Price in millions
H =5
August 2015 Number of Sales
HHHHHHHH
1.5
Avg. Price per transaction 1.0
$
0.5
0.0
Aug. 2007
2010
2014
2015
1,447,724
August 2007 Number of Sales
number of sales
HHHHHHHHH Avg. Price per transaction $
1,376,389
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+322% Sales
+5% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
38
+90%
$1,447,724
-13%
Aug. 2014
20
+186%
$1,654,625
+105%
Aug. 2010
7
-22%
$806,929
-41%
Aug. 2007
9
n/a
$1,376,389
n/a
© Westside Estate Agency
8
90265 Avg. Price Per Transaction
August 2015
Price in millions
8
Number of Sales
7
HHHHHHHHHHHH HHH
6 5 4
Avg. Price per transaction
3
$
2 1 0
Aug. 2007
2010
2014
2015
3,954,199
August 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
7,793,125
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+275% Sales
-49% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
15
0%
$3,954,199
-40%
Aug. 2014
15
+67%
$6,549,000
+43%
Aug. 2010
9
+125%
$4,578,667
-41%
Aug. 2007
4
n/a
$7,793,125
n/a
© Westside Estate Agency
9
90272 Avg. Price Per Transaction
August 2015
Price in millions
4.0
Number of Sales
3.5
HHHHHHHHHHHH HHHHHHHHH
3.0 2.5 2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
Aug. 2007
2010
2014
2015
3,574,909
August 2007 Number of Sales
number of sales
HHHHHHHHHH Avg. Price per transaction $
2,765,050
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+110% Sales
+29% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
21
+5%
$3,574,909
+28%
Aug. 2014
20
+82%
$2,784,750
+16%
Aug. 2010
11
+10%
$2,401,045
-13%
Aug. 2007
10
n/a
$2,765,050
n/a
© Westside Estate Agency
10
90024 Price in millions
Avg. Price Per Transaction
August 2015
6
Number of Sales
5
HHHHHHH
4
Avg. Price per transaction
3
$
2
3,697,143
1 0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
2,200,333
August 2015 vs 2007 Aug.
2007
2015
+133% Sales
+68% Price
2010
2014
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
7
-46%
$3,697,143
-27%
Aug. 2014
13
+550%
$5,082,196
+154%
Aug. 2010
2
-33%
$2,000,000
-9%
Aug. 2007
3
n/a
$2,200,333
n/a
© Westside Estate Agency
11
90049 Avg. Price Per Transaction
August 2015 Number of Sales
Price in millions
5
HHHHHHHHHHHH HHHHHHHHHHHH HHH
4 3
Avg. Price per transaction
2
$
1 0
Aug. 2007
2010
2014
2015
3,262,148
August 2007 Number of Sales
number of sales
HH Avg. Price per transaction $
2,105,000
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+1250% Sales
+55% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
27
+8%
$3,262,148
-23%
Aug. 2014
25
+213%
$4,210,304
+133%
Aug. 2010
8
+300%
$1,810,500
-14%
Aug. 2007
2
n/a
$2,105,000
n/a
© Westside Estate Agency
12
90025 Avg. Price Per Transaction
August 2015
Price in millions
1.5
Number of Sales
1.2
HHHHHHHHHHH
0.9
Avg. Price per transaction $
0.6
1,197,136
0.3 0.0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
HH Avg. Price per transaction $
1,475,000
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+450% Sales
-19% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
11
+83%
$1,197,136
-13%
Aug. 2014
6
+100%
$1,372,333
+57%
Aug. 2010
3
+50%
$873,500
-41%
Aug. 2007
2
n/a
$1,475,000
n/a
© Westside Estate Agency
13
90402 Avg. Price Per Transaction
August 2015
Price in millions
3.5
Number of Sales
3.0
HHHHHHHHHH
2.5
Avg. Price per transaction
2.0
$
1.5 1.0
3,244,055
0.5 0.0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
Avg. Price per transaction
Not Avail. August 2015 vs 2007 Aug. 2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
10
-9%
$3,244,055
+4%
Aug. 2014
11
+57%
$3,112,727
-3%
Aug. 2010
7
n/a
$3,205,214
n/a
Aug. 2007
n/a
n/a
n/a
n/a
© Westside Estate Agency
14
90005 Avg. Price Per Transaction
August 2015
Price in millions
3.5
Number of Sales
3.0
HHHH
2.5
Avg. Price per transaction
2.0
$
1.5 1.0
3,218,750
0.5 0.0
Aug. 2007
2010
2014
2015
August 2007 Number of sales
number of sales
HH Avg. Price per transaction $
2,000,000
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+100% Sales
+61% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
4
-20%
$3,218,750
+43%
Aug. 2014
5
+400%
$2,246,000
+183%
Aug. 2010
1
-50%
$795,000
-60%
Aug. 2007
2
n/a
$2,000,000
n/a
© Westside Estate Agency
15
90027 Avg. Price Per Transaction
August 2015
Price in millions
2.0
Number of Sales
HHHHHHHHHHHH HHHHHHHHHHHH HHHHH
1.5
1.0
Avg. Price per transaction $
0.5
0.0
Aug. 2007
2010
2014
2015
1,700,887
August 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
1,063,500
August 2015 vs 2007 Aug. 2007
2010
2014
2015
+625% Sales
+60% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
29
+222%
$1,700,887
-2%
Aug. 2014
9
+200%
$1,738,833
+40%
Aug. 2010
3
-25%
$1,240,000
+17%
Aug. 2007
4
n/a
$1,063,500
n/a
© Westside Estate Agency
16
90064 Avg. Price Per Transaction
August 2015
2.0
Price in millions
Number of Sales
HHHHHHHHHHHH HHHHHHHHHHHH HH
1.5
1.0
Avg. Price per transaction $
1,445,023
0.5
0.0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
HHHHHHHHHHH Avg. Price per transaction $
1,308,955
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+136% Sales
+10% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
26
+44%
$1,445,023
-4%
Aug. 2014
18
+125%
$1,502,167
-2%
Aug. 2010
8
-27%
$1,527,500
+17%
Aug. 2007
11
n/a
$1,308,955
n/a
© Westside Estate Agency
17
90291 Avg. Price Per Transaction
August 2015
Price in millions
2.5
Number of Sales
HHHHHHHH
2.0 1.5
Avg. Price per transaction 1.0
$
0.5 0.0
Aug. 2007
2010
2014
2015
2,111,688
August 2007 Number of Sales
number of sales
HHHHHHHHH Avg. Price per transaction $
1,620,177
August 2015 vs 2007 Aug. 2007
2010
2014
2015
-11% Sales
+30% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
8
-50%
$2,111,688
+13%
Aug. 2014
16
+220%
$1,875,063
+23%
Aug. 2010
5
-44%
$1,529,200
-6%
Aug. 2007
9
n/a
$1,620,177
n/a
© Westside Estate Agency
18
90292 Price in millions
Avg. Price Per Transaction
August 2015
2.5
Number of Sales
2.0
HHHH Avg. Price per transaction
1.5
$
1.0
2,354,000
0.5 0.0
Aug. 2007
2010
2014
2015
August 2007 Number of Sales
number of sales
H Avg. Price per transaction $
1,600,000
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+300% Sales
+47% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
4
+300%
$2,354,000
0%
Aug. 2014
1
n/a
$2,350,000
n/a
Aug. 2010
n/a
n/a
n/a
n/a
Aug. 2007
1
n/a
$1,600,000
n/a
© Westside Estate Agency
19
Miami market view
metro Miami overview Avg. Price Per Transaction
AVG. Number of Sales
1.0
Price in millions
H =5
August 2015
HHHHHHH
0.8
Avg. Price per transaction 0.6
$
0.4
786,739
0.2 0.0
H =5
August 2007
Aug.
2007
2010
2014
2015
AVG. number of sales
AVG. Number of Sales
HHHHHH Avg. Price per transaction $
999,992
August 2015 vs 2007 Aug.
2007
2010
2014
2015
+21% Sales
-22% Price
Date
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Aug. 2015
34
-44%
$786,739
-4%
Aug. 2014
49
+19%
$819,505
+44%
Aug. 2010
41
+52%
$465,149
-54%
Aug. 2007
27
n/a
$999,992
n/a
Data via MLS for zip codes: 33109, 33131, 33132, 33133, 33134, 33137, 33138, 33139, 33140, 33143, 33146, 33149, 33154, 33156, 33160, 33180 & 33181
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Success built on superior market knowledge. And understanding our clients. Westside Estate Agency is defined by the values and the vision of its two founders, Stephen Shapiro and Kurt Rappaport. In 1998, Stephen Shapiro and Kurt Rappaport were two of the most well-known, highly compensated realtors in Los Angeles. Still, they felt there had to be a better way to meet the very high expectations and individual needs of their high-net worth clientele. It wasn’t long before the two began making plans for a different kind of brokerage. A real estate agency committed to putting client service first, and completely satisfying the needs and desires of each client. In the words of Stephen Shapiro, “Negotiations conducted with intelligence and integrity result in what we call the ‘triple win.’ Great results for the buyer, the seller, and WEA.” In 1999, Shapiro and Rappaport opened Westside Estate Agency with a focus on the most expensive and prestigious homes and estates in the prime Westside areas of Los Angeles. In 2007, WEA opened its Malibu office to service that world famous community. Today, WEA has a clientele without parallel, at the pinnacle of the business, financial, technology and entertainment industries generating billions in sales and the highest average price per sale in the industry. The company added its Miami, Florida location in early 2015. Working hand-in-hand with their commitment to tailored service has been the agency’s industry leading application of technology. WEA has been at the forefront in the category for its technology use, from being the first to implement a fully integrated network computing system to
the first to use scanning technology, cloud technology, e-signatures and paperless filing to provide better service to clients. WEA continues to stay on the cuttingedge of innovation, keeping a pulse on and implementing new technologies as soon as they’re available. Stephen and Kurt have assembled a team of full-time real estate pros, known for expertise, experience, integrity and discretion. Each agent possesses an in-depth knowledge of the inventory and current market conditions; our clients turn to us for candid insights into current market value, the sales potential of properties and marketing strategies for our current and prospective clients. Of course, WEA has retained its independence, in the face of widespread acquisition by a handful of impersonal agencies. Remaining independent means we answer to our clients, instead of a corporate headquarters thousands of miles away. It means we don’t need to worry about a conglomerate’s bottom-line or using an inhouse escrow or title company; rather, we’re free to focus on getting the best and doing the best for each client. In practical terms, this translates into efficiency and responsiveness. Making the most of every minute by showing just the homes, in just the neighborhoods, that meet our clients’ criteria. Quite frequently, we’re even able to offer new properties not yet on the market. Finally, it means WEA’s agents have a direct conduit to the top. Unlike the non-owner operated, robo brokerages, our principals play a role in, and keep an eye on every WEA transaction. In sense, every WEA client is also a client of Stephen’s and Kurt’s. Which only make sense, as it’s with these two that the WEA story began.
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Contact Us Beverly Hills Office
Malibu Office
Miami Office
Westside Estate Agency 210 North Canon Drive Beverly Hills, CA 90210
Westside Estate Agency 23410 Civic Center Way Malibu, CA 90265
Westside Estate Agency 2100 Ponce de Leon Blvd 7th Floor Coral Gables, FL 33134
Tel: (310) 247-7770 SalesBH@WEAhomes.com
Tel: (310) 456-1171 SalesMalibu@WEAhomes.com
Tel: (305) 447-1471 SalesMiami@WEAhomes.com
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