Micro Market Report Los Angeles & Miami Issue Number seven - September 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
17
zip Code 90291 - Venice
18
Zip Code 90292 - Marina del Rey
19
Miami Market Overview
20
About WEA
21
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 POCKET LISTINGS Pocket Listings seem to be the flavor of the month. It’s the term used when a property is not inserted in the Multiple Listing Service (MLS). There is a different understanding from what a seller believes to be a pocket listing and what a broker defines as such. I “think” what a seller means is that they don’t want their property exposed on a wide basis to the marketplace. They have been led to believe that this method will result in the maximum price obtainable in the market. Maybe it does, but maybe it doesn’t. Think about this. Would one prospect looking at a house result in this maximum price or would the maximum be obtained if the home were exposed to many more people? Take this out another step. You tell your broker that you want a “Pocket Listing” and the broker runs with that and calls a few trusted competitive agents and any clients he or she might have. Maybe that results in 3, 4, or 5 showings. On the other hand, if your broker places the property in the MLS it is going out of 1000s of agents that might have the ultimate buyer. A number of years ago I had a seller who wanted to keep his $30M listing “quiet.” After showing to several buyers who declined to buy I convinced him to let me put in the MLS. Lo and behold I received a call from a broker who never sold a house for over 2M. Her client was a Silicon Valley tech exec and one of the wealthiest men in the world. He came, he saw and he bought. Had this property not been in the MLS I would have never found this agent or his client. So the question is: How do you get the best price for your home? My answer is: Expose it to as many potential clients as you can reach. It is your broker’s job to pre-qualify any and all clients who schedule a time to visit so as not to permit unqualified people in the home. You make the decision – tell 6 people about the house or tell all brokers in the market place. I think it’s a simple decision. Stephen Shapiro Co-Founder, Westside Estate Agency 3
90210 Avg. Price Per Transaction
September 2015
Price in millions
8
Number of Sales
7
HHHHHHHHHHHH HHHHHHHHHHHH HH
6 5 4
Avg. Price per transaction
3
$
2 1 0
Sep.
2007
2010
2014
2015
6,248,058
September 2007 Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
3,591,875
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+225% Sales
+74% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
26
+53%
$6,248,058
+21%
SEP. 2014
17
+70%
$5,172,941
-7%
SEP. 2010
10
+25%
$5,551,500
+55%
SEP. 2007
8
baseline
$3,591,875
baseline
YTD 2015
235
+27%
$6,388,726
+21%
Date
© Westside Estate Agency
4
90211 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHH
2.0
Avg. Price per transaction $
1.5
2,266,667
1.0 0.5 0.0
Sep.
2007
2010
2014
2015
September 2007 Number of sales
number of sales
Avg. Price per transaction
Not Avail.
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
3
+200%
$2,266,667
+81%
SEP. 2014
1
-50%
$1,250,000
-19%
SEP. 2010
2
0
$1,535,000
0
SEP. 2007
0
baseline
0
baseline
YTD 2015
34
+42%
$2,134,250
+22%
Date
© Westside Estate Agency
5
90069 Avg. Price Per Transaction
September 2015
Price in millions
6
Number of Sales
5
HHHHHHHH
4 3
Avg. Price per transaction
2
$
1 0
Sep.
2007
2010
2014
2015
2,946,125
September 2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
2,780,500
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+167% Sales
+6% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
8
-20%
$2,946,125
-41%
SEP. 2014
10
+43%
$5,024,250
+88%
SEP. 2010
7
+133%
$2,670,429
-4%
SEP. 2007
3
baseline
$2,780,500
baseline
YTD 2015
122
+30%
$3,684,014
+1%
Date
© Westside Estate Agency
6
90077 Avg. Price Per Transaction
September 2015
Price in millions
15
Number of Sales
HHHHHHHHH
12 9
Avg. Price per transaction
6
$ 3 0
Sep.
4,070,667
September 2007 2007
2010
2014
2015
Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
2,610,875
September 2015 vs 2007 2015
+13% Sales
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
9
+50%
$4,070,667
-70%
SEP. 2014
6
+0%
$13,792,500
+772%
SEP. 2010
6
-25%
$1,581,167
-39%
SEP. 2007
8
baseline
$2,610,875
baseline
YTD 2015
104
+44%
$6,040,346
-9%
Sep. 2007
Date
2010
2014
© Westside Estate Agency
+56% Price
7
90046 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHHHHHHHHHHH HHHHHH
2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
2,040,139
September 2007
Sep. 2007
2010
2014
2015
number of sales
Number of Sales
HHHHH Avg. Price per transaction $
1,167,600
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+260% Sales
+75% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
18
-14%
$2,040,139
+20%
SEP. 2014
21
+200%
$1,693,749
+65%
SEP. 2010
7
+40%
$1,029,571
-12%
SEP. 2007
5
baseline
$1,167,600
baseline
YTD 2015
262
+38%
$1,757,707
+3%
Date
© Westside Estate Agency
8
90265 Avg. Price Per Transaction
September 2015
Price in millions
6
Number of Sales
5
HHHHHHHHHHHH HHHHHHHHH
4 3
Avg. Price per transaction
2
$
1 0
3,644,690
September 2007
Sep. 2007
2010
2014
2015
number of sales
Number of Sales
HHHH Avg. Price per transaction $
5,865,000
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+425% Sales
-38% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
21
+31%
$3,644,690
-34%
SEP. 2014
16
+100%
$5,560,750
+42%
SEP. 2010
8
+100%
$3,910,000
-33%
SEP. 2007
4
baseline
$5,865,000
baseline
YTD 2015
179
+39%
$4,643,764
+17%
Date
© Westside Estate Agency
9
90272 Avg. Price Per Transaction
September 2015
Price in millions
5
Number of Sales
HHHHHHHHHHHH HHHHHHHH
4 3
Avg. Price per transaction
2
$
1 0
Sep. 2007
2010
2014
2015
4,043,775
September 2007 Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
2,603,000
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+150% Sales
+55% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
20
-17%
$4,043,775
+9%
SEP. 2014
24
+118%
$3,702,665
-1%
SEP. 2010
11
+38%
$3,757,273
+44%
SEP. 2007
8
baseline
$2,603,000
baseline
YTD 2015
227
+4%
$3,603,433
+7%
Date
© Westside Estate Agency
10
90024 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHHHHHHHHH
2.0
Avg. Price per transaction
1.5
$ 1.0
2,341,400
0.5 0.0
Sep.
2007
2010
2014
2015
September 2007 Number of Sales
number of sales
Avg. Price per transaction
Not Avail. September 2015 vs 2007 Sep.
2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
10
+25%
$2,341,400
-4%
SEP. 2014
8
+60%
$2,438,625
+19%
SEP. 2010
5
0
$2,043,800
0
SEP. 2007
0
baseline
n/a
baseline
YTD 2015
60
-8%
$2,702,125
-44%
Date
© Westside Estate Agency
11
90049 Avg. Price Per Transaction
September 2015
Price in millions
4.0
Number of Sales
3.5
HHHHHHHHHHHH HHHHHHHHHH
3.0 2.5 2.0
Avg. Price per transaction
1.5
$
1.0 0.5 0.0
Sep.
2007
2010
2014
2015
3,801,386
September 2007 Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
2,044,563
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+175% Sales
+86% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
22
0%
$3,801,386
+51%
SEP. 2014
22
+83%
$2,513,419
-10%
SEP. 2010
12
+50%
$2,787,792
+36%
SEP. 2007
8
baseline
$2,044,563
baseline
YTD 2015
225
+36%
$3,629,620
+15%
Date
© Westside Estate Agency
12
90025 Avg. Price Per Transaction
September 2015
Price in millions
1.5
Number of Sales
HHHHHH
1.2
Avg. Price per transaction
0.9
$ 0.6
1,435,833
0.3 0.0
Sep.
2007
2010
2014
2015
september 2007 Number of Sales
number of sales
H Avg. Price per transaction $
818,000
september 2015 vs 2007 Sep.
2007
2010
2014
2015
+500% Sales
+76% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
6
+100%
$1,435,833
+15%
SEP. 2014
3
0%
$1,245,000
+46%
SEP. 2010
3
+200%
$854,667
+4%
SEP. 2007
1
baseline
$818,000
baseline
YTD 2015
62
+77%
$1,347,178
+1%
Date
© Westside Estate Agency
13
90402 Avg. Price Per Transaction
September 2015
Price in millions
5
Number of Sales
HHHH
4
Avg. Price per transaction
3
$ 2
4,376,250
1 0
Sep. 2007
2010
2014
2015
September 2007 Number of Sales
number of sales
HH Avg. Price per transaction $
4,875,000
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+100% Sales
-10% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
4
-43%
$4,376,250
+26%
SEP. 2014
7
+75%
$3,484,714
+67%
SEP. 2010
4
+100%
$2,086,250
-57%
SEP. 2007
2
baseline
$4,875,000
baseline
YTD 2015
73
+24%
$4,133,370
+5%
Date
© Westside Estate Agency
14
90005 Avg. Price Per Transaction
September 2015
Price in millions
1.2
Number of Sales
1.0
HHH
0.8
Avg. Price per transaction
0.6
$
0.4
1,151,667
0.2 0.0
Sep.
2007
2010
2014
2015
September 2007 Number of sales
number of sales
Avg. Price per transaction
Not Avail.
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
3
0
$1,151,667
0
SEP. 2014
0
0
0
0
SEP. 2010
0
0
0
0
SEP. 2007
0
baseline
0
baseline
YTD 2015
37
+68%
$2,272,081
+47%
Date
© Westside Estate Agency
15
90027 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHHHHHHHHHHH H
2.0 1.5
Avg. Price per transaction
1.0
$ 0.5 0.0
Sep.
2007
2010
2014
2015
1,504,700
September 2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
1,711,000
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+225% Sales
-12% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
13
-32%
$1,504,700
-32%
SEP. 2014
19
+217%
$2,222,000
+119%
SEP. 2010
6
+50%
$1,014,000
-41%
SEP. 2007
4
baseline
$1,711,000
baseline
YTD 2015
155
+49%
$1,582,012
-4%
Date
© Westside Estate Agency
16
90064 Avg. Price Per Transaction
September 2015
Price in millions
2.0
Number of Sales
HHHHHHHHHHHH HHH
1.5
1.0
Avg. Price per transaction $
1,914,600
0.5
0.0
Sep.
2007
2010
2014
2015
September 2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
1,358,800
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+200% Sales
+41% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
15
-21%
$1,914,600
+41%
SEP. 2014
19
+27%
$1,358,158
+22%
SEP. 2010
15
+200%
$1,114,167
-18%
SEP. 2007
5
baseline
$1,358,800
baseline
YTD 2015
150
+12%
$1,510,477
+7%
Date
© Westside Estate Agency
17
90291 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHHHHHHHHHHH HHHHHH
2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
Sep.
2007
2010
2014
2015
2,059,806
September 2007 Number of Sales
number of sales
HHHHHH Avg. Price per transaction $
1,279,000
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+200% Sales
+61% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
18
+200%
$2,059,806
-15%
SEP. 2014
6
-25%
$2,413,583
+234%
SEP. 2010
8
+33%
$721,750
-44%
SEP. 2007
6
baseline
$1,279,000
baseline
YTD 2015
142
+13%
$1,915,658
+8%
Date
© Westside Estate Agency
18
90292 Avg. Price Per Transaction
September 2015
Price in millions
2.5
Number of Sales
HHH
2.0
Avg. Price per transaction
1.5
$ 1.0
2,130,833
0.5 0.0
Sep.
2007
2010
2014
2015
September 2007 Number of Sales
number of sales
Avg. Price per transaction
Not Avail. September 2015 vs 2007 Sep.
2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
3
-40%
$2,130,833
-3%
SEP. 2014
5
+400%
$2,203,900
+13%
SEP. 2010
1
0
$1,950,000
0
SEP. 2007
0
baseline
0
baseline
YTD 2015
27
+8%
$2,322,537
+15%
Date
© Westside Estate Agency
19
Miami market view
metro Miami overview Avg. Price Per Transaction 0.8
Price in millions
H =5
September 2015 AVG. Number of Sales
0.7
HHHHHHH
0.6
Avg. Price per transaction
0.5
$
0.4 0.3
786,739
0.2 0.1 0.0
Sep.
H =5
September 2007 2007
2010
2014
2015
AVG. number of sales
AVG. Number of Sales
HHHHH Avg. Price per transaction $
776,696
September 2015 vs 2007 Sep.
2007
2010
2014
2015
+40% Sales
+1% Price
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
SEP. 2015
35
-36%
$786,739
+0%
SEP. 2014
55
+38%
$789,793
+68%
SEP. 2010
40
+90%
$471,504
-39%
SEP. 2007
21
baseline
$776,696
baseline
Date
Data via MLS for zip codes: 33109, 33131, 33132, 33133, 33134, 33137, 33138, 33139, 33140, 33143, 33146, 33149, 33154, 33156, 33160, 33180 & 33181
20
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.
21
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
22