MICRO MARKET REPORT LOS ANGELES ISSUE #49 10/18/23 FOR Q3 2023 STATISTICS
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
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 90027 - LOS FELIZ
16
ZIP CODE 90064 - CHEVIOT HILLS
17
ZIP CODE 90291 - VENICE
18
ZIP CODE 90292 - MARINA DEL REY
19
ALL ZIP CODES YEAR TO DATE SALES
20
ABOUT WEA
22
Data provided by First American Title Co. of Los Angeles County records for sales exceeding $1 million.
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
2
A MESSAGE FROM WEA ISRAELI/HAMAS CONFLICT This is an unprecedented time with the invasion of Israel by Hamas and the unprovoked murder and dismemberment of innocent civilians including women, children, and the elderly as well as capturing hostages. There is no justification other than that Hamas and others in the region want the total annihilation of Jews and Israel, reminiscent of Nazi Germany in the 1930s and 40s. Unfortunately, this attack has led to retaliation and warfare in the region, likely resulting in more death and destruction. We cannot condone these acts by Hamas in any way whatsoever and only hope that by some miracle this ends sooner rather than later. This blatant antisemitism must stop now. Stephen Shapiro Co-Founder, Westside Estate Agency
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
3
90210 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
517
$
MILLION
245
$
MILLION
Q3 2022
Q3 2023
9.57
$
MILLION
-53%
Q3 2022
NUMBER OF SALES • Q3
5.34 MILLION
Q3 2023
-44%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
120 10
80
8
IN MILLIONS
100
60 40 20 0
6 4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
46
-14.8%
$5,340,210 / $3,163,000
-44% / -60%
Q3 2022
54
-49.1%
$9,578,472 / $7,825,000
11% / 21%
Q3 2021
106
20.5%
$8,623,075 / $6,460,000
-6% / 43%
Q3 2020
88
baseline
$9,216,458 / $4,517,500
baseline
YTD 2023
139
-39.6%
$9,191,539 / $5,065,000
-5% / -26%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
4
90211 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
20
$
MILLION
11.56
$
MILLION
Q3 2022
Q3 2023
2.5
$
MILLION
-42%
Q3 2022
NUMBER OF SALES • Q3
2.89 MILLION
Q3 2023
15%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
12 10
3.5 IN MILLIONS
8 6 4
3 2.5 2 1.5
2
1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
4
-50%
$2,892,250 / $3,025,000
15% / 19%
Q3 2022
8
-27.3%
$2,504,739 / $2,550,455
-8% / -5%
Q3 2021
11
22.2%
$2,733,682 / $2,675,500
18% / 14%
Q3 2020
9
baseline
$2,315,389 / $2,350,000
baseline
YTD 2023
19
-38.7%
$2,928,557 / $2,800,000
-3% / -1%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
5
90212 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
24.5
$
MILLION
29.9
$
MILLION
Q3 2022
Q3 2023
3.5
$
MILLION
22%
Q3 2022
NUMBER OF SALES • Q3
4.28 MILLION
Q3 2023
22%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
15
MEDIAN PRICE
5
12
4 IN MILLIONS
9 6 3 0
3 2 1 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
7
0%
$4,283,571 / $3,375,000
22% / 2%
Q3 2022
7
-46.2%
$3,502,857 / $3,300,000
0% / 5%
Q3 2021
13
116.7%
$3,498,538 / $3,137,500
1% / -10%
Q3 2020
6
baseline
$3,472,667 / $3,472,500
baseline
YTD 2023
16
-15.8%
$4,173,250 / $3,773,000
4% / 8%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
6
90069 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
67.3
$
MILLION
76.3
$
MILLION
Q3 2022
Q3 2023
3.54
$
MILLION
13%
Q3 2022
NUMBER OF SALES • Q3
4.24 MILLION
Q3 2023
20%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
75
MEDIAN PRICE
5 IN MILLIONS
60 45 30 15
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
18
-5.3%
$4,242,806 / $3,311,500
20% / 10%
Q3 2022
19
-74%
$3,544,474 / $3,023,500
-21% / -14%
Q3 2021
73
82.5%
$4,478,623 / $3,500,000
24% / 20%
Q3 2020
40
baseline
$3,614,675 / $2,910,000
baseline
YTD 2023
97
-9.3%
$4,914,103 / $3,420,000
20% / -1%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
7
90077 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
245
$
MILLION
82.6
$
MILLION
Q3 2022
Q3 2023
9.43
$
MILLION
-66%
Q3 2022
NUMBER OF SALES • Q3
3.44 MILLION
Q3 2023
-63%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
60
AVG PRICE
10
40
8
IN MILLIONS
50
30 20 10
MEDIAN PRICE
6 4 2
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
24
-7.7%
$3,444,021 / $2,952,500
-63% / -39%
Q3 2022
26
-36.6%
$9,434,269 / $4,825,000
56% / 49%
Q3 2021
41
-26.8%
$6,054,305 / $3,247,000
21% / 37%
Q3 2020
56
baseline
$4,992,982 / $2,375,000
baseline
YTD 2023
72
-20.9%
$5,333,369 / $3,285,500
-34% / -24%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
8
90046 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
175
$
MILLION
291
$
MILLION
Q3 2022
Q3 2023
2.43
$
MILLION
67%
Q3 2022
NUMBER OF SALES • Q3
4.35 MILLION
Q3 2023
79%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
MEDIAN PRICE
100 5 IN MILLIONS
80 60 40 20
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
67
-6.9%
$4,353,998 / $3,075,000
79% / 39%
Q3 2022
72
-28%
$2,431,396 / $2,207,500
-7% / 1%
Q3 2021
100
-2.9%
$2,609,140 / $2,187,500
22% / 21%
Q3 2020
103
baseline
$2,137,899 / $1,810,000
baseline
YTD 2023
182
-21.9%
$3,129,288 / $2,311,250
23% / 0%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
9
90265 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
295
$
MILLION
189
$
MILLION
Q3 2022
Q3 2023
7.58
$
MILLION
-36%
Q3 2022
NUMBER OF SALES • Q3
4.31 MILLION
Q3 2023
-43%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
100
MEDIAN PRICE
8 IN MILLIONS
80 60 40 20 0
6 4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
44
12.8%
$4,317,224 / $3,650,000
-43% / -15%
Q3 2022
39
-58.5%
$7,584,692 / $4,300,000
11% / 16%
Q3 2021
94
-17.5%
$6,841,160 / $3,700,000
17% / -3%
Q3 2020
114
baseline
$5,840,803 / $3,825,000
baseline
YTD 2023
129
-34.2%
$7,054,456 / $3,650,000
3% / -16%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
10
90272 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
326
$
MILLION
310
$
MILLION
Q3 2022
Q3 2023
6.04
$
MILLION
-5%
Q3 2022
NUMBER OF SALES • Q3
5.26 MILLION
Q3 2023
-13%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
120
AVG PRICE
100
MEDIAN PRICE
8 IN MILLIONS
80 60 40 20 0
6 4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
59
9.3%
$5,267,637 / $3,300,000
-13% / -26%
Q3 2022
54
-47.1%
$6,044,519 / $4,475,000
-5% / 3%
Q3 2021
102
8.5%
$6,351,480 / $4,327,500
55% / 24%
Q3 2020
94
baseline
$4,088,644 / $3,500,000
baseline
YTD 2023
168
-18.4%
$5,987,364 / $4,235,750
0% / -6%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
11
90024 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
116
$
MILLION
88.8
$
MILLION
Q3 2022
Q3 2023
7.25
$
MILLION
-23%
Q3 2022
NUMBER OF SALES • Q3
4.04 MILLION
Q3 2023
-44%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
30 8
20
6
IN MILLIONS
25
15 10 5 0
4 2 0
2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
22
37.5%
$4,040,295 / $3,157,500
-44% / -8%
Q3 2022
16
-46.7%
$7,252,125 / $3,437,500
14% / -13%
Q3 2021
30
130.8%
$6,347,350 / $3,947,500
70% / 44%
Q3 2020
13
baseline
$3,736,863 / $2,750,000
baseline
YTD 2023
50
-28.6%
$4,858,312 / $3,640,500
6% / 2%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
12
90049 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
376
$
MILLION
212
$
MILLION
Q3 2022
Q3 2023
5.46
$
MILLION
-44%
Q3 2022
NUMBER OF SALES • Q3
4.33 MILLION
Q3 2023
-21%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
125 6
100 IN MILLIONS
5
75 50 25
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
49
-29%
$4,333,745 / $2,672,500
-21% / -28%
Q3 2022
69
-28.1%
$5,463,099 / $3,700,000
4% / 8%
Q3 2021
96
-5.9%
$5,259,557 / $3,422,500
17% / 12%
Q3 2020
102
baseline
$4,512,941 / $3,056,250
baseline
YTD 2023
163
-34%
$5,671,279 / $3,716,000
-3% / -2%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
13
90025 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
31.4
$
MILLION
80.1
$
MILLION
Q3 2022
Q3 2023
1.84
$
MILLION
155%
Q3 2022
NUMBER OF SALES • Q3
5.34 MILLION
Q3 2023
189%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
6
20
5 IN MILLIONS
15 10 5
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
15
-11.8%
$5,346,633 / $3,975,000
189% / 121%
Q3 2022
17
-15%
$1,848,294 / $1,800,000
-23% / -4%
Q3 2021
20
5.3%
$2,397,575 / $1,892,000
23% / 1%
Q3 2020
19
baseline
$1,946,737 / $1,875,000
baseline
YTD 2023
41
-22.6%
$3,482,486 / $2,364,500
53% / 28%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
14
90402 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
183
$
MILLION
97.7
$
MILLION
Q3 2022
Q3 2023
5.72
$
MILLION
-47%
Q3 2022
NUMBER OF SALES • Q3
4.07 MILLION
Q3 2023
-29%
AVG/MEDIAN PRICES • 12 MONTH ROLLING
60
AVG PRICE
6
40
5 IN MILLIONS
50
30 20 10
MEDIAN PRICE
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
24
-25%
$4,074,932 / $3,212,500
-29% / -33%
Q3 2022
32
-41.8%
$5,721,439 / $4,797,500
1% / -6%
Q3 2021
55
61.8%
$5,689,155 / $5,100,000
3% / 6%
Q3 2020
34
baseline
$5,503,515 / $4,796,500
baseline
YTD 2023
74
-28.8%
$5,473,100 / $5,282,500
-8% / -3%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
15
90027 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
117.1
$
MILLION
147.9
$
MILLION
Q3 2022
Q3 2023
2.54
$
MILLION
26%
Q3 2022
NUMBER OF SALES • Q3
4.62 MILLION
Q3 2023
82%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
5 IN MILLIONS
60 45 30 15
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
32
-30.4%
$4,624,469 / $3,150,000
82% / 58%
Q3 2022
46
-23.3%
$2,547,163 / $1,992,000
-2% / -13%
Q3 2021
60
25%
$2,604,717 / $2,300,000
7% / 16%
Q3 2020
48
baseline
$2,439,503 / $1,980,000
baseline
YTD 2023
98
-16.2%
$3,410,952 / $2,587,500
20% / 8%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
16
90064 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
121.5
$
MILLION
187.6
$
MILLION
Q3 2022
Q3 2023
2.48
$
MILLION
54%
Q3 2022
NUMBER OF SALES • Q3
4.26 MILLION
Q3 2023
72%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
75 5 IN MILLIONS
60 45 30 15
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
44
-10.2%
$4,265,477 / $2,750,000
72% / 27%
Q3 2022
49
-29%
$2,481,492 / $2,170,000
19% / 24%
Q3 2021
69
35.3%
$2,088,906 / $1,755,000
-4% / 3%
Q3 2020
51
baseline
$2,174,725 / $1,710,000
baseline
YTD 2023
123
-22.2%
$3,305,483 / $2,248,000
30% / 3%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
17
90291 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
155
$
MILLION
143
$
MILLION
Q3 2022
Q3 2023
2.54
$
MILLION
-8%
Q3 2022
NUMBER OF SALES • Q3
3.97 MILLION
Q3 2023
56%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
IN MILLIONS
80 60 40 20
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
36
-41%
$3,976,278 / $3,197,500
56% / 44%
Q3 2022
61
-9%
$2,546,840 / $2,225,000
2% / 0%
Q3 2021
67
0%
$2,485,955 / $2,215,000
13% / 16%
Q3 2020
67
baseline
$2,201,031 / $1,910,000
baseline
YTD 2023
112
-42.3%
$3,145,242 / $2,642,500
10% / 8%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
18
90292 SALES VOLUME
$
AVG. PRICE PER TRANSACTION
7.1
$
MILLION
14.3
$
MILLION
Q3 2022
Q3 2023
2.36
$
MILLION
102%
Q3 2022
NUMBER OF SALES • Q3
3.57 MILLION
Q3 2023
51%
AVG/MEDIAN PRICES • 12 MONTH ROLLING AVG PRICE
MEDIAN PRICE
20 IN MILLIONS
15 10 5
4 3 2 1
0
0 2020
2021
2022
2023
2020
2021
2022
2023
SALES
Δ VS PREVIOUS YEAR
AVG. PRICE / MEDIAN PRICE
Δ VS PREVIOUS YEAR
Q3 2023
4
33.3%
$3,579,750 / $3,490,500
51% / 45%
Q3 2022
3
-70%
$2,366,667 / $2,400,000
-32% / -18%
Q3 2021
10
-41.2%
$3,495,350 / $2,922,500
53% / 31%
Q3 2020
17
baseline
$2,285,706 / $2,225,000
baseline
YTD 2023
18
-35.7%
$2,620,000 / $2,281,500
-10% / -22%
DATE
WESTSIDE ESTATE AGENCY
|
MICRO MARKET REPORT LOS ANGELES Q2 2023
19
YEAR TO DATE SALES 2021
2020
20
Zip Code
Sales
Average Price
Sales
Δ vs ‘20
Average Price
Δ vs ‘20
90210
204
$8,911,350
324
58.8%
$77,872,778
-12%
90211
28
$2,500,411
42
50%
$2,968,405
19%
90212
16
$3,322,156
29
81.3%
$3,250,948
-2%
90069
93
$5,218,919
176
89.2%
$4,622,815
-11%
90077
101
$6,179,218
133
31.7%
$5,667,707
-8%
90046
211
$2,128,643
310
46.9%
$2,348,516
10%
90265
205
$5,233,856
282
37.6%
$6,863,796
31%
90272
191
$4,275,136
330
72.8%
$5,199,089
22%
90024
43
$3,488,738
84
95.3%
$5,103,024
46%
90049
208
$4,750,316
320
53.8%
$5,167,193
9%
90025
30
$1,830,033
61
103.3%
$2,334,754
28%
90402
69
$5,157,710
144
108.7%
$5,609,406
9%
90027
114
$2,237,200
173
51.8%
$2,497,610
12%
90064
134
$2,235,511
201
50%
$2,139,988
-4%
90291
140
$2,264,149
200
42.9%
$2,423,819
7%
90292
31
$2,422,622
47
51.6%
$2,723,245
12%
PROPERTIES OF $1M OR MORE 2022
2023
Sales
Δ vs ‘21
Average Price
Δ vs ‘21
Sales
Δ vs ‘22
Average Price
Δ vs ‘22
230
-29%
$9,646,863
23%
139
-39.6%
$9,191,539
-5%
31
-26.2%
$3,019,900
2%
19
-38.7%
$2,928,557
-3%
19
-34.5%
$4,010,368
23%
16
-15.8%
$4,173,250
4%
107
-39.2%
$4,096,372
-11%
97
-9.3%
$4,914,103
20%
91
-31.6%
$8,033,907
42%
72
-20.9%
$5,333,369
-34%
233
-24.8%
$2,538,927
8%
182
-21.9%
$3,129,288
23%
196
-30.5%
$6,835,588
0%
129
-34.2%
$7,054,456
3%
206
-37.6%
$5,976,068
15%
168
-18.4%
$5,987,364
0%
70
-16.7%
$4,602,950
-10%
50
-28.6%
$4,858,312
6%
247
-22.8%
$5,861,585
13%
163
-34%
$5,671,279
-3%
53
-13.1%
$2,275,245
-3%
41
-22.6%
$3,482,486
53%
104
-27.8%
$5,963,962
6%
74
-28.8%
$5,473,100
-8%
117
-32.4%
$2,838,583
14%
98
-16.2%
$3,410,952
20%
158
-21.4%
$2,536,152
19%
123
-22.2%
$3,305,483
30%
194
-3%
$2,861,193
18%
112
-42.3%
$3,145,242
10%
28
-40.4%
$2,915,792
7%
18
-35.7%
$2,620,000
-10%
21
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.
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.
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.”
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 in-house escrow or title company; rather, we’re free to focus on getting the best and doing the best for each client.
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. 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 cutting-edge of innovation, keeping a pulse on and implementing new technologies as soon as they’re available.
WESTSIDE ESTATE AGENCY
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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.
MICRO MARKET REPORT LOS ANGELES Q2 2023
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CONTACT US BEVERLY HILLS
MALIBU
Westside Estate Agency 460 North Canon Drive Beverly Hills, CA 90210
Westside Estate Agency 3900 Cross Creek Rd #5 Malibu, CA 90265
(310) 247-7770 SalesBH@WEAhomes.com
(310) 456-1171 SalesMalibu@WEAhomes.com
WESTSIDE ESTATE AGENCY
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MICRO MARKET REPORT LOS ANGELES Q2 2023
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