Micro Market Report Los Angeles Area Issue Number One - March 2015
1
Table of Contents WEA MEssage
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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
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zip Code 90049 - brentwood
12
zip Code 90025 - west LA
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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
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zip Code 90291 - Venice
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Zip Code 90292 - Marina Del Ray
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About WEA
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A Message From WEA Welcome to our first “micro market “ report. The market has been inundated with statistics that don’t reflect the areas in which we live, work, buy and sell. The WEA micro report is constructed to not only let you know what happened in the most recent month, but in critical time periods prior. We have chosen the year 2007 as the prior high-water mark as to average price per sale. You can now compare the current past month to not only 2007 but to one year prior and five years prior. This is relevant not only to price but to number of transactions. The WEA micro market report is inclusive of the zip codes where we do the majority of our business and where our clients either live or choose to live in the future. Should you have any questions or comments please feel free to email me at: ss@ weahomes.com We hope you enjoy not only reading the report but learning about the market you live in. Stephen Shapiro Co-Partner, 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
8
Number of Sales
7
HHHHHHHHHH HHHHHHHHHH HHHHHHHHHHHH
6 5 4
Avg. Price per transaction
3
$
2 1 0
2007
2010
2014
2015
4,478,141
2007 Number of Sales
number of sales
HHHHHHHHHHHH Avg. Price per transaction $
3,167,958
2015 vs 2007 2007
2015
+167% Sales
+41% Price
2010
2014
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
32
+78%
$4,478,141
-43%
2014
18
+29%
$7,834,111
+50%
2010
14
+17%
$5,215,500
+65%
2007
12
n/a
$3,167,958
n/a
© Westside Estate Agency
4
90211
Avg. Price Per Transaction
2015
Price in millions
2.0
Number of Sales
HHH
1.5
Avg. Price per transaction 1.0
$
2,000,000
0.5
0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
Not available Avg. Price per transaction $
Not Avail.
2015 vs 2007 2007
2010
2014
2015
N/A Sales
N/A Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
3
+200%
$2,000,000
+6%
2014
1
+100%
$1,880,000
+100%
2010
0
n/a
0
n/a
2007
0
n/a
0
n/a
© Westside Estate Agency
5
90069
Avg. Price Per Transaction
2015
Price in millions
15
Number of Sales
HHHHHHHHHH HHHH
12 9
Avg. Price per transaction 6
$
3 0
2007
2010
2014
2015
2,227,857
2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
1,480,609
2015 vs 2007 2007
2010
2014
2015
+180% Sales
+50% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
14
-26%
$2,227,857
-27%
2014
19
+280%
$3,057,380
+140%
2010
5
0
$1,271,500
-14%
2007
5
n/a
$1,480,609
n/a
© Westside Estate Agency
6
90077
Avg. Price Per Transaction
2015
Price in millions
3.0
Number of Sales
2.5
HHHHHHHHHH HHHHH
2.0 1.5
Avg. Price per transaction
1.0
$
0.5 0.0
2007
2010
2014
2015
9,555,800
2007 Number of Sales
number of sales
HHH Avg. Price per transaction $
2,093,000
2015 vs 2007 2007
2010
2014
2015
+400% Sales
+357% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
15
+15%
$9,555,800
-21%
2014
13
+225%
$12,096,000
+451%
2010
4
+33%
$2,193,750
+5%
2007
3
n/a
$2,093,000
n/a
© Westside Estate Agency
7
90046
Avg. Price Per Transaction
2015 Number of Sales
Price in millions
2.0
HHHHHHHHHH HHHHHHHHHH HH
1.5
1.0
Avg. Price per transaction $
0.5
0.0
2007
2010
2014
2015
1,943,705
2007 Number of Sales
number of sales
HHHHHHHHH Avg. Price per transaction $
1,622,000
2015 vs 2007 2007
2010
2014
2015
+144% Sales
+20% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
22
-19%
$1,943,705
-2%
2014
27
+170%
$1,982,815
+108%
2010
10
+11%
$951,300
-41%
2007
9
n/a
$1,622,000
n/a
© Westside Estate Agency
8
90265
Avg. Price Per Transaction
2015
Price in millions
10
Number of Sales
HHHHHHHHHH HHHHHHHHHH HH
8 6
Avg. Price per transaction
4
$ 2 0
2007
2010
2014
2015
4,249,723
2007 Number of Sales
number of sales
HHHHHHH Avg. Price per transaction $
9,248,929
2015 vs 2007 2007
2010
2014
2015
+214% Sales
-54% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
22
+57%
$4,249,723
+46%
2014
14
+75%
$2,905,143
+17%
2010
8
+14%
$2,482,875
-73%
2007
7
n/a
$9,248,929
n/a
© Westside Estate Agency
9
90272
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
4,211,162
2007 Number of Sales
number of sales
HHHHHHHHHH HHHH Avg. Price per transaction $
2,755,786
2015 vs 2007 2007
2010
2014
2015
+64% Sales
+53% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
23
-23%
$4,211,162
+17%
2014
30
+114%
$3,587,300
+81%
2010
14
0
$1,977,179
-28%
2007
14
n/a
$2,755,786
n/a
© Westside Estate Agency
10
90024
Avg. Price Per Transaction
2015
Price in millions
2.5
Number of Sales
HHHHH
2.0
Avg. Price per transaction
1.5
$
1.0
2,519,400
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
1,765,800
2015 vs 2007 2007
2010
2014
2015
+/-0% Sales
+43% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
5
-44%
$2,519,400
+30%
2014
9
+125%
$1,943,222
-8%
2010
4
-20%
$2,111,250
+20%
2007
5
n/a
$1,765,800
n/a
© Westside Estate Agency
11
90049
Avg. Price Per Transaction
2015
Price in millions
4.0
Number of Sales
3.5
HHHHHHHHHH HHHHHHHHHH HH
3.0 2.5 2.0
Avg. Price per transaction
1.5
$
1.0 0.5 0.0
2007
2010
2014
2015
3,851,448
2007
HH HHHHHHHHHH
Number of Sales
number of sales
Avg. Price per transaction $
2,709,375
2015 vs 2007 2007
2010
2014
2015
+83% Sales
+42% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
22
+57%
$3,851,448
+50%
2014
14
-7%
$2,560,714
+6%
2010
15
+25%
$2,420,400
-11%
2007
12
n/a
$2,709,375
n/a
© Westside Estate Agency
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90025
Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHH
1.2
Avg. Price per transaction
0.9
$
0.6
951,333
0.3 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
H Avg. Price per transaction $
575,000
2015 vs 2007 2007
2010
2014
2015
+500% Sales
+65% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
5
+500%
$951,333
-38%
2014
1
-67%
$1,525,000
+41%
2010
3
+200%
$1,080,333
+88%
2007
1
n/a
$575,000
n/a
© Westside Estate Agency
13
90402
Avg. Price Per Transaction
2015
Price in millions
6
Number of Sales
5
HHHHHHH
4
Avg. Price per transaction
3
$
2
3,714,286
1 0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HH Avg. Price per transaction $
2,483,750
2015 vs 2007 2007
2010
2014
2015
+250% Sales
+50% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
7
+40%
$3,714,286
-26%
2014
5
+25%
$5,051,200
+133%
2010
4
+100%
$2,168,750
-13%
2007
2
n/a
$2,483,750
n/a
© Westside Estate Agency
14
90005
Avg. Price Per Transaction
2015
Price in millions
2.5
Number of Sales
HHHHH
2.0
Avg. Price per transaction
1.5
$ 1.0
2,186,000
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
H Avg. Price per transaction $
1,350,000
2015 vs 2007 2007
2010
2014
2015
+400% Sales
+62% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
5
+150%
$2,186,000
+28%
2014
2
+100%
$1,710,000
+260%
2010
1
0
$475,000
-65%
2007
1
n/a
$1,350,000
n/a
© Westside Estate Agency
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90027
Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHHHHHH HHHHHHHH
1.2 0.9
Avg. Price per transaction
0.6
$
0.3 0.0
2007
2010
2014
2015
1,464,753
2007 Number of Sales
number of sales
HHHHHH Avg. Price per transaction $
1,078,333
2015 vs 2007 2007
2010
2014
2015
+200% Sales
+36% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
18
+29%
$1,464,753
-5%
2014
14
+100%
$1,548,714
+50%
2010
7
-17%
$1,033,429
-4%
2007
6
n/a
$1,078,333
n/a
© Westside Estate Agency
16
90064
Avg. Price Per Transaction
2015
Price in millions
1.5
Number of Sales
HHHHHHH
1.2
Avg. Price per transaction
0.9
$ 0.6
1,099,643
0.3 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HHHHHHHHH Avg. Price per transaction $
1,310,444
2015 vs 2007 2007
2010
2014
2015
-22% Sales
-16% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
7
0
$1,099,643
+3%
2014
7
+75%
$1,069,714
-9%
2010
4
-56%
$1,176,625
-10%
2007
9
n/a
$1,310,444
n/a
© Westside Estate Agency
17
90212
Avg. Price Per Transaction
2015
Price in millions
3.0
Number of Sales
HH
2.5
Avg. Price per transaction
2.0
$
1.5 1.0
2,776,000
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
HH Avg. Price per transaction $
2,080,000
2015 vs 2007 2007
2010
2014
2015
+/-0% Sales
+33% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
2
-50%
$2,776,000
0
2014
4
+100%
$2,777,500
+32%
2010
2
0
$2,107,500
+1%
2007
2
n/a
$2,080,000
n/a
© Westside Estate Agency
18
90291
Avg. Price Per Transaction
2015
Price in millions
2.0
Number of Sales
HHHHHHHHHH HHHH
1.5
Avg. Price per transaction
1.0
$ 0.5
0.0
2007
2010
2014
2015
1,834,893
2007 Number of Sales
number of sales
HHHHH Avg. Price per transaction $
1,567,400
2015 vs 2007 2007
2010
2014
2015
+180% Sales
+17% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
14
0
$1,834,893
+19%
2014
14
+17%
$1,545,571
+42%
2010
12
+140%
$1,089,208
-31%
2007
5
n/a
$1,567,400
n/a
© Westside Estate Agency
19
90292
Avg. Price Per Transaction
2015
Price in millions
2.5
Number of Sales
HHHH
2.0
Avg. Price per transaction
1.5
$
1.0
2,271,250
0.5 0.0
2007
2010
2014
2015
2007 Number of Sales
number of sales
H Avg. Price per transaction $
1,725,000
2015 vs 2007 2007
2010
2014
2015
+300% Sales
+32% Price
Date
Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
2015
4
0
$2,271,250
+36%
2014
4
+300%
$1,671,250
+14%
2010
1
0
$1,471,500
-15%
2007
1
n/a
$1,725,000
n/a
© Westside Estate Agency
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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. 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: (786) 326-3774 cyb@weahomes.com
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