Micro Market Report Los Angeles & Miami Issue Number two - april 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
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Zip COde 90005 - Hancock Park
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Zip Code 90027 - Los Feliz
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Zip Code 90064 - Cheviot Hills
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zip COde 90212 - Beverly Hills
18
zip Code 90291 - Venice
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Zip Code 90292 - Marina Del Ray
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Miami Market Overview
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About WEA
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2
A Message From WEA The Miami luxury real estate market has been a hub for second, and in many cases third and fourth homes, for the past ten years. But the region isn’t just attracting buyers from the North Eastern states looking to escape the cold and snow during the frigid winter weather. A combination of new developments, tax advantages and trends are making the entire South Florida region an increasingly desirable destination for residential real estate investment as well as primary home ownership. WEA’s April ‘micro report’ includes a snapshot of the transactions, by zip code in the region from 2007 to 2015, to give interested buyers insight and direction. The data points to significant increases both in percentages, transactions and price within most areas. This is in particular, but not limited to, the luxury condo market, which has seen across the board resurgence in the past few years. WEA opened its Miami office in early 2015 to better service the needs of our clients in both Miami and Los Angeles, as well as our international buyers and sellers. You’ll also find in this month’s micro report data for the entire luxury real estate market in the Los Angeles areas. Our agents in Malibu, Beverly Hills and Miami look forward to serving whatever needs or inquiries you may have within these luxury markets. Stephen Shapiro Co-Founder, Westside Estate Agency Data provided by First American Title Co. Through L.A. County records for sales exceeding $1 million
3
90210 Avg. Price Per Transaction
2015
Price in millions
15
Number of Sales
HHHHHHHHHH HHHHHHHHHH HHHHHHHHHHH
12 9
Avg. Price per transaction
6
$ 3 0
2007
2010
2014
2015
5,742,724
2007 Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
12,036,000
2015 vs 2007 2007
2015
+288% Sales
-52% Price
2010
2014
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
31
-18%
$5,742,724
+21%
2014
38
+192%
$4,760,923
+25%
2010
13
+63%
$3,820,308
-68%
2007
8
n/a
$12,036,000
n/a
© Westside Estate Agency
4
90211 Avg. Price Per Transaction
2015
Price in millions
3.0
Number of Sales
HHH
2.5 2.0
Avg. Price per transaction $
1.5 1.0
2,716,500
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
H Avg. Price per transaction $
1,462,000
2015 vs 2007 2007
2010
2014
2015
+200% Sales
+86% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
3
-25%
$2,716,500
+44%
2014
4
+300%
$1,890,375
-17%
2010
1
0%
$2,266,000
+55%
2007
1
n/a
$1,462,000
n/a
© Westside Estate Agency
5
90069 Avg. Price Per Transaction
2015
Price in millions
5
Number of Sales
4
HHHHHHHHHHHH
3
Avg. Price per transaction
2
$
1
4,154,099
0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HHHHHHHHHHHH Avg. Price per transaction $
2,073,750
2015 vs 2007 2007
2010
2014
2015
0% Sales
+100% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
12
-33%
$4,154,099
+51%
2014
18
+200%
$2,748,361
-33%
2010
6
-50%
$2,212,000
+7%
2007
12
n/a
$2,073,750
n/a
© Westside Estate Agency
6
90077 Avg. Price Per Transaction
2015
Price in millions
12
Number of Sales
10
HHHHHHHHH
8 6
Avg. Price per transaction
4
$
2 0
2007
2010
2014
2015
10,022,889
2007 Number of Sales
number of sales
HHHHHH Avg. Price per transaction $
5,176,667
2015 vs 2007 2007
2010
2014
2015
+50% Sales
+94% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
9
+350%
$10,022,889
+6%
2014
2
-75%
$9,425,000
+438%
2010
8
+33%
$1,751,063
-66%
2007
6
n/a
$5,176,667
n/a
© Westside Estate Agency
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90046 Avg. Price Per Transaction
2015 Number of Sales
Price in millions
2.0
HHHHHHHHHHHH HHHHHHHHHHHH HHHHHHHHHH
1.5
1.0
Avg. Price per transaction $
0.5
0.0
2007
2010
2014
2015
1,543,653
2007 Number of Sales
number of sales
HHHHHH Avg. Price per transaction $
1,325,743
2015 vs 2007 2007
2010
2014
2015
+467% Sales
+16% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
34
+36%
$1,543,653
-5%
2014
25
+178%
$1,617,920
+68%
2010
9
+50%
$961,611
-27%
2007
6
n/a
$1,325,743
n/a
© Westside Estate Agency
8
90265 Avg. Price Per Transaction
2015
Price in millions
5
Number of Sales
HHHHHHHHHH HHHHHHHHHH HHH
4 3
Avg. Price per transaction
2
$ 1 0
2007
2010
2014
2015
2,591,609
2007 Number of Sales
number of sales
HHHHHHHHHHHH Avg. Price per transaction $
2,964,167
2015 vs 2007 2007
2010
2014
2015
+92% Sales
-13% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
23
+15%
$2,591,609
-41%
2014
20
+300%
$4,423,625
+144%
2010
5
-58%
$1,814,000
-39%
2007
12
n/a
$2,964,167
n/a
© Westside Estate Agency
9
90272 Avg. Price Per Transaction
2015
Price in millions
4.0
Number of Sales
3.5
HHHHHHHHHHHH HHHHHHHHHHHH HHHHHHHHHHHH HH
3.0 2.5 2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
2007
2010
2014
2015
number of sales
3,507,316
2007 Number of Sales
HHHHHHHHH Avg. Price per transaction $
2,291,111
2015 vs 2007 2007
2010
2014
2015
+322% Sales
+53% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
38
+41%
$3,507,316
-8%
2014
27
+286%
$3,819,185
+10%
2010
7
-22%
$3,465,357
+51%
2007
9
n/a
$2,291,111
n/a
© Westside Estate Agency
10
90024 Price in millions
Avg. Price Per Transaction
2015
8
Number of Sales
7
HHHHHHH
6
Avg. Price per transaction
5
$
4 3
1,764,075
2 1 0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HH Avg. Price per transaction $
1,997,500
2015 vs 2007 2007
2010
2014
2015
+250% Sales
-12% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
7
-22%
$1,764,075
-75%
2014
9
+200%
$7,178,182
+275%
2010
3
+50%
$1,915,000
-4%
2007
2
n/a
$1,997,500
n/a
© Westside Estate Agency
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90049 Avg. Price Per Transaction
2015 Number of Sales
Price in millions
4.0 3.5
HHHHHHHHHHHH HHHHHHHHHHHH HHHHHHH
3.0 2.5 2.0
Avg. Price per transaction
1.5
$
1.0 0.5 0.0
2007
2010
2014
2015
3,703,813
2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
2,829,000
2015 vs 2007 2007
2010
2014
2015
+520% Sales
+31% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
31
+94%
$3,703,813
+4%
2014
16
+78%
$3,556,469
+85%
2010
9
+80%
$1,927,111
-32%
2007
5
n/a
$2,829,000
n/a
© Westside Estate Agency
12
90025 Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHHHHH
1.2
Avg. Price per transaction
0.9
$
0.6
1,268,111
0.3 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
H Avg. Price per transaction $
950,000
2015 vs 2007 2007
2010
2014
2015
+800% Sales
+33% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
9
+13%
$1,268,111
-3%
2014
8
n/a
$1,301,250
n/a
2010
0
-100%
n/a
-100%
2007
1
n/a
$950,000
n/a
© Westside Estate Agency
13
90402 Avg. Price Per Transaction
2015
Price in millions
6
Number of Sales
5
HHHHHH
4
Avg. Price per transaction
3
$
2
4,608,333
1 0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
2,848,800
2015 vs 2007 2007
2010
2014
2015
+20% Sales
+62% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
6
-50%
$4,608,333
-15%
2014
12
+71%
$5,392,958
+106%
2010
7
+40%
$2,612,429
-8%
2007
5
n/a
$2,848,800
n/a
© Westside Estate Agency
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90005 Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHH
1.2
Avg. Price per transaction
0.9
$ 0.6
1,297,500
0.3 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HH Avg. Price per transaction $
1,075,000
2015 vs 2007 2007
2010
2014
2015
+200% Sales
+21% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
6
+200%
$1,297,500
+86%
2014
2
-33%
$697,000
-25%
2010
3
+50%
$930,000
-13%
2007
2
n/a
$1,075,000
n/a
© Westside Estate Agency
15
90027 Avg. Price Per Transaction
2015
Price in millions
2.0
Number of Sales
HHHHHHHHHHHH HHHHHHHHHH
1.5
Avg. Price per transaction
1.0
$ 0.5
0.0
2007
2010
2014
2015
1,166,374
2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
1,214,500
2015 vs 2007 2007
2010
2014
2015
+450% Sales
-4% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
22
+144%
$1,166,374
-28%
2014
9
+125%
$1,623,222
+51%
2010
4
0%
$1,076,500
-11%
2007
4
n/a
$1,214,500
n/a
© Westside Estate Agency
16
90064 Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHHHHHHHH HHHH
1.2 0.9
Avg. Price per transaction $
0.6
1,496,625
0.3 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HHHHHHHH Avg. Price per transaction $
1,147,375
2015 vs 2007 2007
2010
2014
2015
+100% Sales
+30% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
16
-24%
$1,496,625
0%
2014
21
+91%
$1,491,905
+46%
2010
11
+38%
$1,024,773
-11%
2007
8
n/a
$1,147,375
n/a
© Westside Estate Agency
17
90212 Avg. Price Per Transaction
2015
Price in millions
3.0
Number of Sales
2.5
HHH
2.0
Avg. Price per transaction $
1.5 1.0
2,725,833
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
Avg. Price per transaction
Not Avail. 2015 vs 2007 2007
2010
2014
2015
+/-0% Sales
+/-0% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
3
0%
$2,725,833
-1%
2014
3
+50%
$2,741,667
+13%
2010
2
2007
n/a
$2,433,750 n/a
n/a
© Westside Estate Agency
n/a 18
90291 Avg. Price Per Transaction
2015
Price in millions
3.5
Number of Sales
3.0
HHHHHHHHHH HHHHHHH
2.5 2.0
Avg. Price per transaction
1.5
$
1.0 0.5 0.0
2007
2010
2014
2015
2,127,059
2007 Number of Sales
number of sales
HHHH Avg. Price per transaction $
963,250
2015 vs 2007 2007
2010
2014
2015
+325% Sales
+121% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
17
+183
$2,127,059
-35%
2014
6
+50%
$3,287,333
+233%
2010
4
0%
$988,215
+3%
2007
4
n/a
$963,250
n/a
© Westside Estate Agency
19
90292 Avg. Price Per Transaction
2015 Number of Sales
Price in millions
2.5
HHHH
2.0
Avg. Price per transaction 1.5
$
1.0
1,978,750
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HH Avg. Price per transaction $
1,179,500
2015 vs 2007 2007
2010
2014
2015
+100% Sales
+68% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
4
+300%
$1,978,750
-13%
2014
1
-67%
$2,275,500
+66%
2010
3
+50%
$1,371,667
+16%
2007
2
n/a
$1,179,500
n/a
© Westside Estate Agency
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Miami market view
metro Miami overview Avg. Price Per Transaction
AVG. Number of Sales
1.2
Price in millions
H =5
2015
HHHHHHHHHH
1.0
Avg. Price per transaction
0.8
$
0.6 0.4
1,155,294
0.2
H =5
2007
0.0
2007
2010
2014
2015
AVG. number of sales
AVG. Number of Sales
HHHHHH Avg. Price per transaction $
931,764
2015 vs 2007 2007
2010
2014
2015
+65% Sales
+80% Price
Date
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
47
-24%
$1,155,294
+32%
2014
62
+44%
$872,470
+51%
2010
43
+38%
$576,647
-38%
2007
31
n/a
$931,764
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
Tel: (310) 247-7770 SalesBH@WEAhomes.com
Westside Estate Agency 2100 Ponce de Leon Blvd 7th Floor Coral Gables, FL 33134
Tel: (310) 456-1171 SalesMalibu@WEAhomes.com
Tel: (305) 447-1471 SalesMiami@WEAhomes.com
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