MICRO MARKET REPORT
LOS ANGELES
ISSUE #56 JULY 2025 | Q2 2025 STATISTICS
WEA MESSAGE
ZIP CODE 90210 - BEVERLY HILLS
ZIP CODE 90211 - BEVERLY HILLS
ZIP CODE 90212 - BEVERLY HILLS
ZIP CODE 90069 - SUNSET STRIP
ZIP CODE 90077 - BEL AIR
ZIP CODE 90046 - WEST HOLLYWOOD
ZIP CODE 90265 - MALIBU
ZIP CODE 90272 - PACIFIC PALISADES
ZIP CODE 90024 - WESTWOOD
ZIP CODE 90292 - MARINA DEL RAY
ZIP CODE 90049 - BRENTWOOD
ZIP CODE 90025 - WEST LA
ZIP CODE 90402 - SANTA MONICA
ZIP CODE 90027 - LOS FELIZ
ZIP CODE 90064 - CHEVIOT HILLS
ZIP CODE 90291 - VENICE
ZIP CODES YEAR TO DATE SALES
A MESSAGE FROM WEA
ARE THOSE THAT LOST THEIR HOMES IN THE PALISADES/MALIBU/ALTADENA BEING LEFT BEHIND?
We just passed the 6-month mark since the devasting fires destroyed over 13,000 structures (some accounts say much more). To date there have only been approximately 800 permit submissions with less than 100 approved. Not only have folks lost their homes, but they lost their memories and years of precious collections.
It’s hard to put into words how this has affected these people both physically and mentally. Initially, many thought they would rebuild, but as time has gone by, a majority are moving away from rebuilding. Construction costs have risen dramatically and there is not enough labor force to rebuild these homes, so even if rebuilding was your desire, the time frame to completion is very long. Add to this that after you rebuild, you will only be able to insure through the California Fair Plan which has a maximum limit of $3,000,000 and unlikely to be sufficient. There are other forces impacting people as well. Imagine the gardeners, pool servicers, and other providers who no longer have jobs; restaurants and small businesses who have been negatively impacted, if not permanently closed, and have reduced staff.
Driving through the Palisades and Malibu last week, I saw only two houses in the framing stage in the Palisades and ZERO homes under construction on the entirety of PCH. What’s going on from a bureaucratic standpoint is ludicrous. Our leaders are feckless and have seemed to move on to criticizing ICE as opposed to helping the residents who have lost their homes and possessions. Rental regulations will soon expire as will insurance payments to cover those rents. What happens then? If you think we had a housing crisis before the fires, it’s nothing compared to what is coming.
I must congratulate Rick Caruso who as a private citizen has chosen to undertake solutions to move the process forward. We can only hope that Rick runs for Mayor of LA or Governor of California and can attack the situation from a governmental position vs private citizen. If he does, I implore you to seriously consider voting him in. I can only believe that if he had been elected instead of Karen Bass, we would be way ahead of the game today.
Stay tuned for more updates at a later time.
Stephen Shapiro Co-Founder, Westside Estate Agency
8.36
10.0
2.95
3.35
4.21
3.78
5.87
3.17
7.36
10.9
3.00
2.31
7.74
6.61
5.60
2.83
4.03
3.71
3.22
2.55
4.91
5.55
2.59
2.04 $
6.93
6.72
2.52
2.66
2.52
2.64
2.19
2.88
PROPERTIES OF $1M OR MORE
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.
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.
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 bottomline 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 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.
BEVERLY HILLS
Westside Estate Agency 460 North Canon Drive Beverly Hills, CA 90210
(310) 247-7770
SalesBH@WEAhomes.com
MALIBU
Westside Estate Agency 3900 Cross Creek Rd #5 Malibu, CA 90265
(310) 456-1171
SalesMalibu@WEAhomes.com