WEA Micro Market Report - Q4 2019

MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #36 1/15/20 FOR Q4 2019 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

Compare Los Angeles Real Estate Brokerages

A MESSAGE FROM WEA ENDING 2019 & BEGINNING A STRONG 2020 Most of us have read that the “luxury” residential real estate market was hard hit in 2019, and it was for a time. However, a funny thing happened during the last quarter of 2019. There was a run on super luxury homes, from the $20M and $30M range all the way up to $150M. What does this mean for 2020? While the lower end of our market had remained strong throughout the year, the Q4 flurry of expensive home sales means that buyers are comfortable spending the money they have earned. After standing down, buyers are now standing up and raring to go. Through osmosis, buyers in a lower price point also gain confidence to invest in real estate.

Let’s ring in the new year in a big way with a market resurgence. Wishing everyone a happy and prosperous new year!

Stephen Shapiro Co-Founder, Westside Estate Agency

3

90210 90210 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

467

$

MILLION

442

-5%

7.78

MILLION

MILLION

Q4 2019

Q4 2018

$

7.01

$

MILLION Q4 2019

Q4 2018

-10%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

80 70 60 50 40 30 20 10 0

8 7 6 5 4 3 2 1 0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

63

5%

$7,010,059

-10%

Q4. 2018

60

-5%

$7,788,518

7%

Q4. 2017

63

-14%

$7,258,635

0%

Q4. 2016

73

-6%

$7,232,562

33%

YTD 2019

265

-1%

$6,503,589

4%

Date

© Westside Estate Agency

4

90211 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

11.95 18.6 $

MILLION

+56%

NUMBER OF SALES • Q4

2.39

MILLION

MILLION

Q4 2019

Q4 2018

$

2.33

$

MILLION Q4 2019

Q4 2018

-3%

AVERAGE PRICE • 12 MONTH ROLLING

12

3.5

10

3.0 2.5

8

2.0

6

1.5

4

1.0

2

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

8

60%

$2,329,625

-3%

Q4. 2018

5

67%

$2,390,400

-22%

Q4. 2017

3

-73%

$3,074,667

35%

Q4. 2016

11

57%

$2,279,773

14%

YTD 2019

30

15%

$3,206,467

25%

Date

© Westside Estate Agency

5

90212 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

22.8

$

MILLION

18.6

-18%

NUMBER OF SALES • Q4

2.85

MILLION

MILLION

Q4 2019

Q4 2018

$

3.10

$

MILLION Q4 2019

Q4 2018

+9%

AVERAGE PRICE • 12 MONTH ROLLING 3.5

10

3.0

8

2.5

6

2.0 1.5

4

1.0

2

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

6

-25%

$3,104,667

9%

Q4. 2018

8

60%

$2,855,750

24%

Q4. 2017

5

-50%

$2,308,100

-27%

Q4. 2016

10

43%

$3,163,650

12%

YTD 2019

24

-38%

$2,985,271

-2%

Date

© Westside Estate Agency

6

90069 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

85.6

$

MILLION

179

+110%

NUMBER OF SALES • Q4

MILLION +27%

AVERAGE PRICE • 12 MONTH ROLLING 5

40

4

30

3

20

2

10

1

0

0 2017

4.17

$

Q4 2019

Q4 2018

50

2016

3.29

MILLION

MILLION

Q4 2019

Q4 2018

$

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

43

65%

$4,171,570

27%

Q4. 2018

26

-10%

$3,291,365

6%

Q4. 2017

29

0%

$3,107,621

16%

Q4. 2016

29

-26%

$2,680,276

-20%

YTD 2019

156

9%

$3,583,321

-8%

Date

© Westside Estate Agency

7

90077 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

121

$

MILLION

283

+133%

NUMBER OF SALES • Q4

4.37

MILLION

MILLION

Q4 2019

Q4 2018

$

7.88

$

MILLION Q4 2019

Q4 2018

+81%

AVERAGE PRICE • 12 MONTH ROLLING

40 35 30 25 20 15 10 5 0

8 7 6 5 4 3 2 1 0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

36

29%

$7,881,083

81%

Q4. 2018

28

-30%

$4,357,100

-35%

Q4. 2017

40

29%

$6,652,300

-3%

Q4. 2016

31

24%

$6,848,839

56%

YTD 2019

137

21%

$5,110,843

-13%

Date

© Westside Estate Agency

8

90046 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

134

$

MILLION

145

+8%

2.13

MILLION

MILLION

Q4 2019

Q4 2018

$

1.79

$

MILLION Q4 2019

Q4 2018

-16%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

100

2.5

80

2.0

60

1.5

40

1.0

20

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

81

29%

$1,793,827

-16%

Q4. 2018

63

-24%

$2,127,778

12%

Q4. 2017

83

32%

$1,891,982

8%

Q4. 2016

63

-16%

$1,755,303

1%

YTD 2019

295

4%

$2,262,210

4%

Date

© Westside Estate Agency

9

90265 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

166

$

MILLION

243

4.04

4.18

$

MILLION

MILLION

MILLION

Q4 2019

Q4 2018

$

Q4 2019

Q4 2018

+46%

+4%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

60

5

50

4

40

3

30

2

20 10

1

0

0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

58

41%

$4,181,078

4%

Q4. 2018

41

-7%

$4,038,679

-11%

Q4. 2017

44

-23%

$4,558,114

-2%

Q4. 2016

57

-8%

$4,661,947

2%

YTD 2019

184

-21%

$4,648,527

-10%

Date

© Westside Estate Agency

10

90272 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

233

$

MILLION

276

4.31

3.95

$

MILLION

MILLION

MILLION

Q4 2019

Q4 2018

$

Q4 2019

Q4 2018

+19%

-9%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

80 70 60 50 40 30 20 10 0

5 4 3 2 1 0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

70

30%

$3,945,021

-9%

Q4. 2018

54

-4%

$4,311,731

-1%

Q4. 2017

56

2%

$4,358,438

5%

Q4. 2016

55

0%

$4,157,236

19%

YTD 2019

244

2%

$3,998,152

-12%

Date

© Westside Estate Agency

11

90024 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

60.5

$

MILLION

73.1

+21%

3.02

MILLION

MILLION

Q4 2019

Q4 2018

$

3.65

$

MILLION Q4 2019

Q4 2018

+21%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

30

4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0

25 20 15 10 5 0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

20

0%

$3,652,600

21%

Q4. 2018

20

5%

$3,024,075

16%

Q4. 2017

19

-27%

$2,599,711

1%

Q4. 2016

26

73%

$2,585,192

-35%

YTD 2019

73

-8%

$3,294,034

-1%

Date

© Westside Estate Agency

12

90049 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

341

$

MILLION

295

4.67

4.15

$

MILLION

MILLION

MILLION

Q4 2019

Q4 2018

$

Q4 2019

Q4 2018

-13%

-11%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

80 70 60 50 40 30 20 10 0

5 4 3 2 1 0 2016

2018

2017

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

71

-3%

$4,151,223

-11%

Q4. 2018

73

3%

$4,666,658

15%

Q4. 2017

71

9%

$4,057,732

-11%

Q4. 2016

65

-2%

$4,543,308

-14%

YTD 2019

300

-1%

$4,740,698

4%

Date

© Westside Estate Agency

13

90025 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

39.9

$

MILLION

26.3 -34%

2.10

MILLION

MILLION

Q4 2019

Q4 2018

$

1.64

$

MILLION Q4 2019

Q4 2018

-22%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

20

2.5 2.0

15

1.5 10 1.0 5

0.5 0.0

0 2016

2018

2017

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

16

-16%

$1,644,688

-22%

Q4. 2018

19

12%

$2,098,816

31%

Q4. 2017

17

31%

$1,606,578

6%

Q4. 2016

13

-32%

$1,512,615

9%

YTD 2019

69

0%

$1,915,913

-26%

Date

© Westside Estate Agency

14

90402 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

110

$

MILLION

141

4.99

4.71

$

MILLION

MILLION

MILLION

Q4 2019

Q4 2018

$

Q4 2019

Q4 2018

+28%

-6%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

35

6

30

5

25

4

20

3

15

2

10 5

1

0

0 2016

2018

2017

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

30

36%

$4,705,700

-6%

Q4. 2018

22

-31%

$4,999,182

9%

Q4. 2017

32

28%

$4,573,344

-11%

Q4. 2016

25

-19%

$5,136,691

23%

YTD 2019

93

2%

$5,104,043

18%

Date

© Westside Estate Agency

15

90005 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

9.93

$

MILLION

19.3

+94%

NUMBER OF SALES • Q4

1.66

MILLION

MILLION

Q4 2019

Q4 2018

$

2.41

$

MILLION Q4 2019

Q4 2018

+46%

AVERAGE PRICE • 12 MONTH ROLLING 2.5

8 7 6 5 4 3 2 1 0

2.0 1.5 1.0 0.5 0.0 2016

2018

2017

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

8

33%

$2,409,125

46%

Q4. 2018

6

0%

$1,655,250

-32%

Q4. 2017

6

-25%

$2,438,167

17%

Q4. 2016

8

-27%

$2,089,125

30%

YTD 2019

35

6%

$2,198,800

-31%

Date

© Westside Estate Agency

16

90027 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

97.5

$

MILLION

102

+5%

2.07

MILLION

MILLION

Q4 2019

Q4 2018

$

2.62

$

MILLION Q4 2019

Q4 2018

+26%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

50

3.0

40

2.5 2.0

30

1.5

20

1.0

10

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

39

-17%

$2,621,859

26%

Q4. 2018

47

7%

$2,074,131

-3%

Q4. 2017

44

10%

$2,140,505

8%

Q4. 2016

40

21%

$1,978,153

10%

YTD 2019

152

-16%

$2,389,954

8%

Date

© Westside Estate Agency

17

90064 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

95.1

$

MILLION

125

+32%

NUMBER OF SALES • Q4

2.07

MILLION

MILLION

Q4 2019

Q4 2018

$

2.32

$

MILLION Q4 2019

Q4 2018

+12%

AVERAGE PRICE • 12 MONTH ROLLING 2.5

80 70 60 50 40 30 20 10 0

2.0 1.5 1.0 0.5 0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

54

17%

$2,318,639

12%

Q4. 2018

46

-23%

$2,067,293

15%

Q4. 2017

60

-9%

$1,796,292

17%

Q4. 2016

66

57%

$1,538,120

6%

YTD 2019

230

4%

$2,236,191

-1%

Date

© Westside Estate Agency

18

90291 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

107

$

MILLION

109

+2%

2.10

MILLION

MILLION

Q4 2019

Q4 2018

$

2.43

$

MILLION Q4 2019

Q4 2018

+16%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

60

2.5

50

2.0

40

1.5

30

1.0

20 10

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

45

-12%

$2,431,433

16%

Q4. 2018

51

4%

$2,102,516

-1%

Q4. 2017

49

11%

$2,129,378

-5%

Q4. 2016

44

-2%

$2,239,170

4%

YTD 2019

181

-5%

$2,423,197

3%

Date

© Westside Estate Agency

19

90292 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

21.8

$

MILLION

21.3

-2%

2.42

MILLION

MILLION

Q4 2019

Q4 2018

$

2.37

$

MILLION Q4 2019

Q4 2018

-2%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

15

3.0

12

2.5 2.0

9

1.5

6

1.0

3

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

9

0%

$2,367,111

-2%

Q4. 2018

9

-40%

$2,417,734

-9%

Q4. 2017

15

114%

$2,654,900

8%

Q4. 2016

7

-22%

$2,449,857

-13%

YTD 2019

33

-3%

$2,347,606

-21%

Date

© Westside Estate Agency

20

METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION

SALES VOLUME

$

893

$

MILLION

1.03

+16%

2.19

MILLION

BILLION

Q4 2019

Q4 2018

$

2.26

$

MILLION Q4 2019

Q4 2018

+3%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

500

2.5

400

2.0

300

1.5

200

1.0

100

0.5

0

0.0 2016

2017

2018

2019

2016

2017

2018

2019

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4. 2019

459

13%

$2,260,881

3%

Q4. 2018

407

9%

$2,196,090

-6%

Q4. 2017

373

11%

$2,342,509

7%

Q4. 2016

337

baseline

$2,197,713

baseline

YTD 2019

1903

-2%

$2,417,813

1%

Date

© Westside Estate Agency

21

YEAR TO DATE SALES 2017

2016 Zip Code

Sales

Average Price

Sales

Δ vs ‘16

Average Price

Δ vs ‘16

90210

284

$5,879,713

283

0%

$5,959,781

1%

90211

33

$2,258,015

33

0%

$2,406,364

7%

90212

40

$3,004,063

31

-23%

$2,887,406

-4%

90069

148

$3,543,298

155

5%

$3,162,136

-11%

90077

118

$5,272,123

145

23%

$5,369,807

2%

90046

293

$2,248,079

307

5%

$2,332,406

4%

90265

243

$4,452,726

230

-5%

$4,808,530

8%

90272

275

$3,922,679

279

1%

$3,854,643

-2%

90024

103

$4,650,006

83

-19%

$3,701,331

-20%

90049

286

$3,836,501

313

9%

$3,896,015

2%

90025

69

$1,625,051

72

4%

$1,940,221

19%

90402

101

$4,682,087

124

23%

$4,431,266

-5%

90005

41

$1,998,415

40

-2%

$2,530,875

27%

90027

181

$1,876,766

167

-8%

$2,887,200

54%

90064

236

$1,963,774

265

12%

$2,237,426

14%

90291

192

$2,158,050

209

9%

$3,077,407

43%

90292

35

$2,265,129

50

43%

$2,679,710

18%

Miami

1653

$2,328,907

1636

-1%

$2,318,873

0%

PROPERTIES OF $1M OR MORE 2018

2019

Sales

Δ vs ‘17

Average Price

Δ vs ‘17

Sales

Δ vs ‘18

Average Price

Δ vs ‘18

268

-5%

$6,250,345

5%

265

-1%

$6,503,589

4%

26

-21%

$2,562,962

7%

30

15%

$3,206,467

25%

39

26%

$3,034,526

5%

24

-38%

$2,985,271

-2%

143

-8%

$3,887,385

23%

156

9%

$3,583,321

-8%

113

-22%

$5,884,137

10%

137

21%

$5,110,843

-13%

285

-7%

$2,171,614

-7%

295

4%

$2,262,210

4%

234

2%

$5,142,385

7%

184

-21%

$4,648,527

-10%

240

-14%

$4,521,367

17%

244

2%

$3,998,152

-12%

79

-5%

$3,313,925

-10%

73

-8%

$3,294,034

-1%

303

-3%

$4,545,560

17%

300

-1%

$4,740,698

4%

69

-4%

$2,596,225

34%

69

0%

$1,915,913

-26%

91

-27%

$4,342,559

-2%

93

2%

$5,104,043

18%

33

-18%

$3,167,818

25%

35

6%

$2,198,800

-31%

181

8%

$2,212,865

-23%

152

-16%

$2,389,954

8%

221

-17%

$2,253,738

1%

230

4%

$2,236,191

-1%

191

-9%

$2,361,698

-23%

181

-5%

$2,423,197

3%

34

-32%

$2,972,694

11%

33

-3%

$2,347,606

-21%

1936

18%

$2,385,589

3%

1903

-2%

$2,417,813

1%

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 2017.

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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