WEA Micro Market Report - Q2 2022

MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #44 7/28/22 FOR Q2 2022 STATISTICS

1

TABLE OF CONTENTS WEA MESSAGE

3

ZIP CODE 90210 - BEVERLY HILLS

4

ZIP CODE 90211 - BEVERLY HILLS

5

ZIP CODE 90212 - BEVERLY HILLS

6

ZIP CODE 90069 - SUNSET STRIP

7

ZIP CODE 90077 - BEL AIR

8

ZIP CODE 90046 - WEST HOLLYWOOD

9

ZIP CODE 90265 - MALIBU

10

ZIP CODE 90272 - PACIFIC PALISADES

11

ZIP CODE 90024 - WESTWOOD

12

ZIP CODE 90049 - BRENTWOOD

13

ZIP CODE 90025 - WEST LA

14

ZIP CODE 90402 - SANTA MONICA

15

ZIP CODE 90005 - HANCOCK PARK

16

ZIP CODE 90027 - LOS FELIZ

17

ZIP CODE 90064 - CHEVIOT HILLS

18

ZIP CODE 90291 - VENICE

19

ZIP CODE 90292 - MARINA DEL REY

20

MIAMI MARKET OVERVIEW

21

ALL ZIP CODES YEAR TO DATE SALES

22

ABOUT WEA

24

Data provided by First American Title Co. of Los Angeles County records and by SEF MLS of Miami-Dade County records for sales exceeding $1 million.

2

A MESSAGE FROM WEA INFLATION, INTEREST RATES, & UNCERTAINTY As is always the case, the pendulum is moving and we are now shifting from a seller’s market to a buyer’s market. We are seeing more inventory, more price reductions, and listings are spending more time on the market. Unfortunately, sellers are always the last to acknowledge this change and the result is that the longer they wait to adjust their asking price, the lower the actual sale price will be.

Sellers must react now to make their prices attractive enough for buyers to act.

Although buyers will see better pricing, they are also used to historically low interest rates. Even though interest rates of 6% are still reasonable, the same loan will now cost double what it would have just a few months ago. This causes more buyers to pause and, therefore, puts more pressure on sellers to reduce the listing price to a number that allows buyers to absorb the increased rate of borrowing.

All signs point to even higher interest rates and continued inflation, particularly with food as the Ukrainian war has prevented them from harvesting foods for that part of the world as well as planting for the following year, and dramatically limited their production of fertilizer. This has not only resulted in shortages but also higher food costs.

While all of this is a lot to swallow, we are in it for the long term and the pendulum will shift again, as it always does.

Stephen Shapiro Co-Founder, Westside Estate Agency

3

90210 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

1.02

$

BILLION

579

-43%

NUMBER OF SALES • Q2

7.6

8.3

$

MILLION

MILLION

Q2 2022

Q2 2021

$

MILLION Q2 2022

Q2 2021

-8%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

16 150

12

120 90

9

60

6

30

3

0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

76

-38.2%

$7,620,355 / $5,087,500

-8% / -5%

Q2 2021

123

232.4%

$8,318,171 / $5,350,000

-41% / -24%

Q2 2020

37

-49.3%

$14,157,703 / $7,050,000

109% / 88%

Q2 2019

73

baseline

$6,774,957 / $3,750,000

baseline

YTD 2022

176

-19.3%

$9,667,847 / $6,543,000

29% / 25%

Date

© Westside Estate Agency

4

90211 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

67.3

$

MILLION

37.3

-45%

NUMBER OF SALES • Q2

3.05

MILLION

MILLION

Q2 2022

Q2 2021

$

3.11

$

MILLION Q2 2022

Q2 2021

+2%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

3.5

25

3.0

20

2.5

15

2.0

10

1.5 1.0

5

0.5 0.0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

12

-45.5%

$3,111,708 / $2,946,500

2% / 11%

Q2 2021

22

450%

$3,059,318 / $2,661,500

24% / 12%

Q2 2020

4

-60%

$2,463,375 / $2,376,250

-11% / -8%

Q2 2019

10

baseline

$2,782,200 / $2,596,750

baseline

YTD 2022

23

-25.8%

$3,199,087 / $3,000,000

5% / 14%

Date

© Westside Estate Agency

5

90212 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

36.3

$

MILLION

32.3

-11%

NUMBER OF SALES • Q2

4.6

3.3

$

MILLION

MILLION

Q2 2022

Q2 2021

$

MILLION Q2 2022

Q2 2021

+40%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

12 10

5

8

4

MEDIAN PRICE

3

6

2 2

1 0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

7

-36.4%

$4,615,214 / $4,306,500

40% / 37%

Q2 2021

11

175%

$3,306,955 / $3,144,500

11% / 6%

Q2 2020

4

-20%

$2,974,750 / $2,956,500

10% / 12%

Q2 2019

5

baseline

$2,694,200 / $2,650,000

baseline

YTD 2022

12

-25%

$4,306,417 / $4,125,000

41% / 31%

Date

© Westside Estate Agency

6

90069 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

235

$

MILLION

159

-32%

NUMBER OF SALES • Q2

4.18

4.4

$

MILLION

MILLION

Q2 2022

Q2 2021

$

MILLION Q2 2022

Q2 2021

-6%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

75

MEDIAN PRICE

8

60

6

45 4

30 15

2

0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

38

-28.3%

$4,187,706 / $3,575,000

-6% / 18%

Q2 2021

53

253.3%

$4,445,245 / $3,039,500

-25% / -32%

Q2 2020

15

-57.1%

$5,928,900 / $4,500,000

54% / 55%

Q2 2019

35

baseline

$3,851,486 / $2,900,000

baseline

YTD 2022

88

-14.6%

$4,215,532 / $3,577,500

-11% / 12%

Date

© Westside Estate Agency

7

90077 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

319

$

MILLION

185

-42%

NUMBER OF SALES • Q2

6.03

MILLION

MILLION

Q2 2022

Q2 2021

$

7.13

$

MILLION Q2 2022

Q2 2021

+18%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

60

MEDIAN PRICE

8 7 6 5 4 3 2 1 0

50 40 30 20 10 0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

26

-50.9%

$7,130,846 / $4,997,500

18% / 65%

Q2 2021

53

103.8%

$6,037,274 / $3,025,000

-22% / 30%

Q2 2020

26

-42.2%

$7,697,827 / $2,331,500

92% / 6%

Q2 2019

45

baseline

$4,014,500 / $2,200,000

baseline

YTD 2022

65

-29.3%

$7,473,762 / $4,220,000

36% / 62%

Date

© Westside Estate Agency

8

90046 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

240

$

MILLION

208

$

MILLION

MILLION

Q2 2022

Q2 2021

-13%

NUMBER OF SALES • Q2

2.26

2.7

$

MILLION Q2 2022

Q2 2021

+20%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

3.0

120

2.5

100

2.0

80

1.5

60

1.0

40 20

0.5

0

0.0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

77

-27.4%

$2,710,545 / $2,400,000

20% / 16%

Q2 2021

106

140.9%

$2,267,071 / $2,068,500

2% / 23%

Q2 2020

44

-47.6%

$2,227,659 / $1,675,000

13% / -7%

Q2 2019

84

baseline

$1,978,476 / $1,797,500

baseline

YTD 2022

161

-23.3%

$2,587,016 / $2,325,000

16% / 20%

Date

© Westside Estate Agency

9

90265 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

694

$

MILLION

477

-31%

NUMBER OF SALES • Q2

6.74

100

10

80

8

60

6

40

4

20

2

0

0

2021

-9%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

2020

MILLION Q2 2022

Q2 2021

120

2019

6.11

$

MILLION

MILLION

Q2 2022

Q2 2021

$

2022

2019

MEDIAN PRICE

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

78

-24.3%

$6,116,060 / $4,512,500

-9% / -7%

Q2 2021

103

157.5%

$6,740,806 / $4,850,000

27% / 87%

Q2 2020

40

-14.9%

$5,307,563 / $2,592,000

12% / -6%

Q2 2019

47

baseline

$4,747,223 / $2,750,000

baseline

YTD 2022

157

-16.5%

$6,649,505 / $4,450,000

-3% / -2%

Date

© Westside Estate Agency

10

90272 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

550

$

MILLION

495

6.69

MILLION Q2 2022

Q2 2021

-10%

NUMBER OF SALES • Q2

4.59

$

MILLION

MILLION

Q2 2022

Q2 2021

$

+46%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

7 120

6

100

5

80

4

60

3

40

2

20

1 0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

74

-38.3%

$6,697,611 / $5,217,750

46% / 32%

Q2 2021

120

155.3%

$4,591,329 / $3,955,750

14% / 20%

Q2 2020

47

-6%

$4,044,330 / $3,300,000

23% / 21%

Q2 2019

50

baseline

$3,288,384 / $2,731,000

baseline

YTD 2022

152

-33.3%

$5,951,750 / $4,525,000

27% / 18%

Date

© Westside Estate Agency

11

90024 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

158

$

MILLION

106

-33%

NUMBER OF SALES • Q2

4.93

MILLION

MILLION

Q2 2022

Q2 2021

$

3.79

$

MILLION Q2 2022

Q2 2021

-23%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

5

35

4

30 25

3

20 15

2

10

1

5

0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

28

-12.5%

$3,797,875 / $3,477,500

-23% / 5%

Q2 2021

32

220%

$4,938,906 / $3,319,000

62% / 24%

Q2 2020

10

-56.5%

$3,055,650 / $2,683,250

14% / 17%

Q2 2019

23

baseline

$2,680,413 / $2,300,000

baseline

YTD 2022

54

0%

$3,818,009 / $3,614,250

-13% / 22%

Date

© Westside Estate Agency

12

90049 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

707

$

MILLION

633

MILLION Q2 2022

Q2 2021

-10%

NUMBER OF SALES • Q2

6.15

5.7

$

MILLION

MILLION

Q2 2022

Q2 2021

$

8%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

140

MEDIAN PRICE

7

120

6

100

5

80

4

60

3

40

2 1

20

0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

103

-16.9%

$6,154,749 / $3,976,500

8% / -13%

Q2 2021

124

148%

$5,702,101 / $4,545,250

8% / 35%

Q2 2020

50

-43.2%

$5,268,700 / $3,375,000

-5% / 1%

Q2 2019

88

baseline

$5,517,608 / $3,357,500

baseline

YTD 2022

178

-20.5%

$6,016,054 / $3,850,000

17% / -3%

Date

© Westside Estate Agency

13

90025 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

60.5

$

MILLION

66.3 10%

NUMBER OF SALES • Q2

2.24

MILLION

MILLION

Q2 2022

Q2 2021

$

2.55

$

MILLION Q2 2022

Q2 2021

14%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

30

MEDIAN PRICE

3.0

25

2.5

20

2.0

15

1.5 10

1.0

5

0.5

0

0.0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

26

-3.7%

$2,551,885 / $1,925,000

14% / -4%

Q2 2021

27

350%

$2,242,981 / $2,000,000

33% / 33%

Q2 2020

6

-72.7%

$1,680,667 / $1,507,000

-26% / -31%

Q2 2019

22

baseline

$2,275,523 / $2,195,000

baseline

YTD 2022

36

-12.2%

$2,476,861 / $1,953,250

7% / -6%

Date

© Westside Estate Agency

14

90402 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

333

$

MILLION

215

6.15

MILLION Q2 2022

Q2 2021

-36%

NUMBER OF SALES • Q2

5.96

$

MILLION

MILLION

Q2 2022

Q2 2021

$

+3%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

60

MEDIAN PRICE

7

50

6 5 4 3

40 30 20

2

10

1

0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

35

-37.5%

$6,152,929 / $5,500,000

3% / 28%

Q2 2021

56

194.7%

$5,964,063 / $4,287,000

18% / 2%

Q2 2020

19

-13.6%

$5,065,447 / $4,206,500

-14% / -21%

Q2 2019

22

baseline

$5,889,182 / $5,300,000

baseline

YTD 2022

72

-19.1%

$6,071,750 / $5,970,000

9% / 38%

Date

© Westside Estate Agency

15

90005 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

19.6

$

MILLION

28.7

46%

NUMBER OF SALES • Q2

2.18

MILLION

MILLION

Q2 2022

Q2 2021

$

3.18

$

MILLION Q2 2022

Q2 2021

65%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

18 15

4

12

3

9

2

6

1

3 0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

8

-11.1%

$3,594,750 / $3,187,500

65% / 63%

Q2 2021

9

50%

$2,182,111 / $1,950,000

82% / 34%

Q2 2020

6

-33.3%

$1,196,167 / $1,452,500

-40% / -3%

Q2 2019

9

baseline

$1,993,611 / $1,500,000

baseline

YTD 2022

13

-48%

$3,404,538 / $3,025,000

32% / 63%

Date

© Westside Estate Agency

16

90027 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

152

$

MILLION

122

-20%

NUMBER OF SALES • Q2

2.58

MILLION

MILLION

Q2 2022

Q2 2021

$

3.14

$

MILLION Q2 2022

Q2 2021

22%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

60

4 40

3 2

20

1 0

0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

39

-33.9%

$3,141,808 / $3,190,000

22% / 37%

Q2 2021

59

118.5%

$2,582,271 / $2,325,000

13% / 31%

Q2 2020

27

-34.1%

$2,287,870 / $1,775,000

12% / 2%

Q2 2019

41

baseline

$2,049,671 / $1,741,500

baseline

YTD 2022

71

-37.2%

$3,027,390 / $2,725,000

24% / 32%

Date

© Westside Estate Agency

17

90064 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

169

$

MILLION

132

-22%

NUMBER OF SALES • Q2

2.14

MILLION

MILLION

Q2 2022

Q2 2021

$

2.5

$

MILLION Q2 2022

Q2 2021

+17%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

80

MEDIAN PRICE

3.0 2.5

60

2.0 40

1.5 1.0

20

0.5 0

0.0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

53

-32.9%

$2,505,142 / $2,355,000

17% / 26%

Q2 2021

79

139.4%

$2,147,892 / $1,865,000

-9% / -7%

Q2 2020

33

-58.8%

$2,364,106 / $2,005,000

16% / 16%

Q2 2019

80

baseline

$2,030,662 / $1,731,500

baseline

YTD 2022

109

-17.4%

$2,560,725 / $2,200,000

18% / 16%

Date

© Westside Estate Agency

18

90291 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

186

$

MILLION

217

$

MILLION

MILLION

Q2 2022

Q2 2021

+16%

NUMBER OF SALES • Q2

2.59

2.71

$

MILLION Q2 2022

Q2 2021

+5%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

80

MEDIAN PRICE

3.5 3.0

60

2.5 40

2.0 1.5

20

1.0 0.5

0

0.0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

80

11.1%

$2,713,032 / $2,550,000

5% / 16%

Q2 2021

72

132.3%

$2,592,167 / $2,200,000

13% / 13%

Q2 2020

31

-32.6%

$2,298,565 / $1,950,000

1% / 0%

Q2 2019

46

baseline

$2,278,109 / $1,946,250

baseline

YTD 2022

133

0%

$3,005,370 / $2,600,000

26% / 25%

Date

© Westside Estate Agency

19

90292 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

58.9

$

MILLION

47.2

$

MILLION

MILLION

Q2 2022

Q2 2021

-20%

NUMBER OF SALES • Q2

2.68

2.95

$

MILLION Q2 2022

Q2 2021

+10%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

3.5 3.0

25 20

2.5 2.0

15

1.5

10

1.0

5

0.5

0

0.0

2019

2020

2021

2022

2019

2020

2021

2022

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

16

-27.3%

$2,952,250 / $3,078,250

10% / 21%

Q2 2021

22

340%

$2,681,659 / $2,548,000

26% / 3%

Q2 2020

5

-54.5%

$2,133,400 / $2,475,000

-10% / 6%

Q2 2019

11

baseline

$2,365,182 / $2,333,000

baseline

YTD 2022

25

-32.4%

$2,981,687 / $3,000,000

19% / 21%

Date

© Westside Estate Agency

20

METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION

SALES VOLUME

$

5.63

$

BILLION

4.73 -16%

NUMBER OF SALES • Q2

2.78

2.9

$

MILLION

BILLION

Q2 2022

Q2 2021

$

MILLION Q2 2022

Q2 2021

-4%

AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE

MEDIAN PRICE

3.0

2000

2.5

1500

2.0 1.5

1000

1.0

500

0.5 0.0

0

2019

2020

2021

2022

2019

2020

2021

2022

Date

Sales

Δ vs Previous Year

Avg. Price / Median Price

Δ vs Previous Year

Q2 2022

1,706

-12%

$2,780,213 / $1,680,000

-4% / -7%

Q2 2021

1,937

468%

$2,906,717 / $1,800,000

14% / 16%

Q2 2020

341

-39%

$2,553,252 / $1,555,000

1% / -1%

Q2 2019

563

baseline

$2,517,728 / $1,565,000

baseline

3,254

1%

$2,820,172 / $1,727,500

-4% / -4%

YTD 2022

© Westside Estate Agency

21

YEAR TO DATE SALES 2020

2019 Zip Code

Sales

Average Price

Sales

Δ vs ‘19

Average Price

Δ vs ‘19

90210

124

$7,029,852

116

-6.5%

$8,679,888

23%

90211

16

$2,723,844

19

18.8%

$2,588,053

-5%

90212

10

$2,531,300

10

0%

$3,132,850

24%

90069

67

$4,114,810

53

-20.9%

$6,429,670

56%

90077

67

$4,488,449

45

-32.8%

$7,655,422

71%

90046

135

$2,133,037

108

-20%

$2,119,815

-1%

90265

78

$4,531,628

91

16.7%

$4,473,505

-1%

90272

95

$3,817,344

97

2.1%

$4,455,861

17%

90024

35

$2,755,729

30

-14.3%

$3,381,217

23%

90049

148

$5,099,802

106

-28.4%

$4,978,133

-2%

90025

32

$1,992,375

11

-65.6%

$1,628,455

-18%

90402

36

$5,234,278

35

-2.8%

$4,821,786

-8%

90005

16

$1,736,938

13

-18.8%

$1,321,769

-24%

90027

69

$1,929,319

66

-4.3%

$2,090,070

8%

90064

130

$2,064,415

83

-36.2%

$2,272,861

10%

90291

80

$2,436,081

73

-8.8%

$2,322,079

-5%

90292

13

$2,367,462

14

7.7%

$2,588,877

9%

Miami

949

$2,436,383

792

-17%

$2,382,052

-2%

PROPERTIES OF $1M OR MORE 2021

2022

Sales

Δ vs ‘20

Average Price

Δ vs ‘20

Sales

Δ vs ‘21

Average Price

Δ vs ‘21

218

87.9%

$7,507,955

-14%

176

-19.3%

$9,667,847

29%

31

63.2%

$3,051,694

18%

23

-25.8%

$3,199,087

5%

16

60%

$3,049,781

-3%

12

-25%

$4,306,417

41%

103

94.3%

$4,725,010

-27%

88

-14.6%

$4,215,532

-11%

92

104.4%

$5,495,418

-28%

65

-29.3%

$7,473,762

36%

210

94.4%

$2,224,409

5%

161

-23.3%

$2,587,016

16%

188

106.6%

$6,875,114

54%

157

-16.5%

$6,649,505

-3%

228

135.1%

$4,683,546

5%

152

-33.3%

$5,951,750

27%

54

80%

$4,411,731

30%

54

0%

$3,818,009

-13%

224

111.3%

$5,127,608

3%

178

-20.5%

$6,016,054

17%

41

272.7%

$2,304,110

41%

36

-12.2%

$2,476,861

7%

89

154.3%

$5,560,124

15%

72

-19.1%

$6,071,750

9%

25

92.3%

$2,583,780

95%

13

-48%

$3,404,538

32%

113

71.2%

$2,440,739

17%

71

-37.2%

$3,027,390

24%

132

59%

$2,166,689

-5%

109

-17.4%

$2,560,725

18%

133

82.2%

$2,392,518

3%

133

0%

$3,005,370

26%

37

164.3%

$2,514,568

-3%

25

-32.4%

$2,981,687

19%

3,216

306%

$2,911,308

22%

3,254

1%

$2,820,172

-3%

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 2015, 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 2018.

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.

24

Contact Us Beverly Hills Office

Malibu Office

Miami Office

Westside Estate Agency 210 North Canon Drive Beverly Hills, CA 90210

Westside Estate Agency 3900 Cross Creek Rd #5 Malibu, CA 90265

Westside Estate Agency 2980 Macfarlane Road Miami, FL 33133 s

Tel: (310) 247-7770 SalesBH@WEAhomes.com

Tel: (310) 456-1171 SalesMalibu@WEAhomes.com

Tel: (305) 447-1471 SalesMiami@WEAhomes.com

25