WEA Micro Market Report - Q4 2020

MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #38 1/25/20 FOR Q4 2020 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 Fourth Quarter and End of Year Results Who would have thought that when COVID-19 first struck California over 9 months ago that the residential real estate market would remain so robust? Even with so many people leaving California for tax havens and vacation areas to work remotely, the real estate market remains strong.

Review your zip code in our report to see how it measures up. Malibu appears to be the clear winner. When comparing 2019 to 2020 stats, we found that the number of sales in Malibu increased by 70% with a corresponding average price per sale increase of 17%, and a 99% increase in sales volume. When comparing Malibu’s Q4 2019 to Q4 2020, sales increased by 86%, the average price increased by 40%, and sales volume is up by a striking 161%. Other zip codes have varying results but, in general, most were good to excellent.

As we all get vaccinated, here’s to the end of COVID-19 in 2021. Until then, be healthy and stay safe.

Stephen Shapiro Co-Founder, Westside Estate Agency

3

90210 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

442

$

MILLION

571

+29%

NUMBER OF SALES • Q4

7.01

MILLION

MILLION

Q4 2020

Q4 2019

$

6.96

$

MILLION Q4 2020

Q4 2019

-1%

AVERAGE PRICE • 12 MONTH ROLLING 8 7 6 5 4 3 2 1 0

100 80 60 40 20 0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

82

30%

$6,964,445

-1%

Q4 2019

63

5%

$7,010,059

-10%

Q4 2018

60

-5%

$7,788,518

7%

Q4 2017

63

baseline

$7,258,635

baseline

286

8%

$8,353,146

28%

Date

YTD 2020

© Westside Estate Agency

4

90211 90210 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

18.6

$

MILLION

5.22

2.61

$

MILLION Q4 2020

Q4 2019

-72%

NUMBER OF SALES • Q4

2.33

MILLION

MILLION

Q4 2020

Q4 2019

$

12%

AVERAGE PRICE • 12 MONTH ROLLING 3.5

8 7 6 5 4 3 2 1 0

3.0 2.5 2.0 1.5 1.0 0.5 0.0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

2

-75%

$2,607,500

12%

Q4 2019

8

60%

$2,329,625

-3%

Q4 2018

5

67%

$2,390,400

-22%

Q4 2017

3

baseline

$3,074,667

baseline

30

0%

$2,507,550

-22%

Date

YTD 2020

© Westside Estate Agency

5

90212 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

18.6

$

MILLION

18.1

-3%

NUMBER OF SALES • Q4

3.10

MILLION

MILLION

Q4 2020

Q4 2019

$

2.58

$

MILLION Q4 2020

Q4 2019

-17%

AVERAGE PRICE • 12 MONTH ROLLING

20

3.5 3.0

15

2.5 2.0

10

1.5

5

1.0

0

0.0

0.5 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

7

17%

$2,584,000

-17%

Q4 2019

6

-63%

$3,104,667

9%

Q4 2018

16

60%

$2,855,750

24%

Q4 2017

10

baseline

$2,308,100

baseline

YTD 2020

23

-4%

$3,097,500

4%

Date

© Westside Estate Agency

6

90069 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

179

$

MILLION

172

-4%

NUMBER OF SALES • Q4

MILLION

-14%

AVERAGE PRICE • 12 MONTH ROLLING 5

40

4

30

3

20

2

10

1

0

0 2018

3.58

$

Q4 2020

Q4 2019

50

2017

4.17

MILLION

MILLION

Q4 2020

Q4 2019

$

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

48

12%

$3,579,831

-14%

Q4 2019

43

65%

$4,171,570

27%

Q4 2018

26

-10%

$3,291,365

6%

Q4 2017

29

baseline

$3,107,621

baseline

YTD 2020

141

-10%

$4,660,932

30%

Date

© Westside Estate Agency

7

90077 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

284

$

MILLION

332

+17%

7.88

MILLION

MILLION

Q4 2020

Q4 2019

$

6.64

$

MILLION Q4 2020

Q4 2019

-16%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

50

8 7 6 5 4 3 2 1 0

40 30 20 10 0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

151

10%

$6,331,116

24%

Q4 2019

36

29%

$7,881,083

81%

Q4 2018

28

-30%

$4,357,100

-35%

Q4 2017

40

baseline

$6,652,300

baseline

YTD 2020

151

0%

$6,179,218

50%

Date

© Westside Estate Agency

8

90046 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

145

$

MILLION

232

2.17

$

MILLION Q4 2020

Q4 2019

+60%

NUMBER OF SALES • Q4

1.79

MILLION

MILLION

Q4 2020

Q4 2019

$

+21%

AVERAGE PRICE • 12 MONTH ROLLING

120

2.5

100

2.0

80

1.5

60

1.0

40 20

0.5

0

0.0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

107

32%

$2,170,388

21%

Q4 2019

81

29%

$1,793,827

-16%

Q4 2018

63

-24%

$2,127,778

12%

Q4 2017

83

baseline

$1,891,982

baseline

YTD 2020

318

8%

$2,142,689

-5%

Date

© Westside Estate Agency

9

90265 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

242

$

MILLION

633

4.18

MILLION

MILLION

Q4 2020

Q4 2019

$

MILLION Q4 2020

Q4 2019

+161%

5.86

$

+40%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

120

6

100

5

80

4

60

3

40

2

20

1

0

0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

108

86%

$5,862,032

40%

Q4 2019

58

41%

$4,181,078

4%

Q4 2018

41

-7%

$4,038,679

-11%

Q4 2017

44

baseline

$4,558,114

baseline

YTD 2020

313

70%

$5,450,607

17%

Date

© Westside Estate Agency

10

90272 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

276

$

MILLION

444

4.31

MILLION Q4 2020

Q4 2019

+61%

NUMBER OF SALES • Q4

3.95

$

MILLION

MILLION

Q4 2020

Q4 2019

$

+9%

AVERAGE PRICE • 12 MONTH ROLLING

120

5

100

4

80

3

60

2

40 20

1

0

0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

103

47%

$4,307,549

9%

Q4 2019

70

30%

$3,945,021

-9%

Q4 2018

54

-4%

$4,311,731

-1%

Q4 2017

56

baseline

$4,358,438

baseline

294

20%

$4,286,492

7%

Date

YTD 2020

© Westside Estate Agency

11

90024 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

73.1

$

MILLION

129

+76%

NUMBER OF SALES • Q4

3.65

MILLION

MILLION

Q4 2020

Q4 2019

$

4.96

$

MILLION Q4 2020

Q4 2019

+36%

AVERAGE PRICE • 12 MONTH ROLLING

30

5

25

4

20

3

15

2

10 5

1

0

0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

26

30%

$4,956,538

36%

Q4 2019

20

0%

$3,652,600

21%

Q4 2018

20

5%

$3,024,075

16%

Q4 2017

19

baseline

$2,599,711

baseline

YTD 2019

69

-5%

$4,041,822

23%

Date

© Westside Estate Agency

12

90049 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

295

$

MILLION

457

4.53

MILLION Q4 2020

Q4 2019

+55%

NUMBER OF SALES • Q4

4.15

$

MILLION

MILLION

Q4 2020

Q4 2019

$

+9%

AVERAGE PRICE • 12 MONTH ROLLING

120

5

100

4

80

3

60

2

40 20

1

0

0 2017

2019

2018

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

101

42%

$4,529,609

9%

Q4 2019

71

-3%

$4,151,223

-11%

Q4 2018

73

3%

$4,666,658

15%

Q4 2017

71

baseline

$4,057,732

baseline

309

3%

$4,678,175

-1%

Date

YTD 2020

© Westside Estate Agency

13

90025 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

26.3

$

MILLION

39.3 +49%

NUMBER OF SALES • Q4

20

2.0

15

1.5

10

1.0

5

0.5

0

0.0 2019

MILLION +4%

AVERAGE PRICE • 12 MONTH ROLLING 2.5

2018

1.71

$

Q4 2020

Q4 2019

25

2017

1.64

MILLION

MILLION

Q4 2020

Q4 2019

$

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

23

44%

$1,709,739

4%

Q4 2019

16

-16%

$1,644,688

-22%

Q4 2018

19

12%

$2,098,816

31%

Q4 2017

17

baseline

$1,606,578

baseline

YTD 2020

53

-23%

$1,777,830

-7%

Date

© Westside Estate Agency

14

90402 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

141

$

MILLION

146

5.86

MILLION Q4 2020

Q4 2019

+4%

NUMBER OF SALES • Q4

4.71

$

MILLION

MILLION

Q4 2020

Q4 2019

$

+24%

AVERAGE PRICE • 12 MONTH ROLLING

35

6

30

5

25

4

20

3

15

2

10 5

1

0

0 2017

2019

2018

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

25

-17%

$5,855,320

24%

Q4 2019

30

36%

$4,705,700

-6%

Q4 2018

22

-31%

$4,999,182

9%

Q4 2017

32

baseline

$4,573,344

baseline

YTD 2020

94

1%

$5,343,245

5%

Date

© Westside Estate Agency

15

90005 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

19.3

$

MILLION

52.5

+172%

NUMBER OF SALES • Q4

2.41

MILLION

MILLION

Q4 2020

Q4 2019

$

3.09

$

MILLION Q4 2020

Q4 2019

+28

AVERAGE PRICE • 12 MONTH ROLLING 3.5

20

3.0 15

2.5 2.0

10

1.5

5

1.0

0

0.0

0.5

2017

2019

2018

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

17

113%

$3,086,206

28%

Q4 2019

8

33%

$2,409,125

46%

Q4 2018

6

0%

$1,655,250

-32%

Q4 2017

6

baseline

$2,438,167

baseline

36

3%

$2,201,875

0%

Date

YTD 2020

© Westside Estate Agency

16

90027 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

102

$

MILLION

184

+80%

NUMBER OF SALES • Q4

2.62

MILLION

MILLION

Q4 2020

Q4 2019

$

2.53

$

MILLION Q4 2020

Q4 2019

-4%

AVERAGE PRICE • 12 MONTH ROLLING 3.0

80 70 60 50 40 30 20 10 0

2.5 2.0 1.5 1.0 0.5 0.0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

73

87%

$2,525,561

-4%

Q4 2019

39

-17%

$2,621,859

26%

Q4 2018

47

7%

$2,074,131

-3%

Q4 2017

44

baseline

$2,140,505

baseline

YTD 2020

187

23%

$2,349,769

-2%

Date

© Westside Estate Agency

17

90064 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

125

$

MILLION

172

+38%

NUMBER OF SALES • Q4

2.32

MILLION

MILLION

Q4 2020

Q4 2019

$

2.3

$

MILLION Q4 2020

Q4 2019

-1%

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 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

75

39%

$2,296,880

-1%

Q4 2019

54

17%

$2,318,639

12%

Q4 2018

46

-23%

$2,067,293

15%

Q4 2017

60

baseline

$1,796,292

baseline

YTD 2020

209

-9%

$2,257,533

1%

Date

© Westside Estate Agency

18

90291 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

109

$

MILLION

144

+32%

2.43

MILLION

MILLION

Q4 2020

Q4 2019

$

2.29

$

MILLION Q4 2020

Q4 2019

-6%

NUMBER OF SALES • Q4

AVERAGE PRICE • 12 MONTH ROLLING

80 70 60 50 40 30 20 10 0

2.5 2.0 1.5 1.0 0.5 0.0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

63

40%

$2,291,937

-6%

Q4 2019

45

-12%

$2,431,433

16%

Q4 2018

51

4%

$2,102,516

-1%

Q4 2017

49

baseline

$2,129,378

baseline

203

12%

$2,272,773

-6%

Date

YTD 2020

© Westside Estate Agency

19

90292 AVG. PRICE PER TRANSACTION

SALES VOLUME

$

21.3

$

MILLION

41.1

+93%

NUMBER OF SALES • Q4

2.37

MILLION

MILLION

Q4 2020

Q4 2019

$

2.73

$

MILLION Q4 2020

Q4 2019

+16%

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 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

15

67%

$2,734,333

16%

Q4 2019

9

0%

$2,367,111

-2%

Q4 2018

9

-40%

$2,417,734

-9%

Q4 2017

15

baseline

$2,654,900

baseline

YTD 2020

46

39%

$2,524,267

8%

Date

© Westside Estate Agency

20

METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION

SALES VOLUME

$

1.08

$

BILLION

2.43 +125%

NUMBER OF SALES • Q4

2.25

MILLION

BILLION

Q4 2020

Q4 2019

$

2.94

$

MILLION Q4 2020

Q4 2019

+31%

AVERAGE PRICE • 12 MONTH ROLLING

1000

3.0

800

2.5 2.0

600

1.5

400

1.0

200

0.5

0

0.0 2017

2018

2019

2020

2017

2018

2019

2020

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q4 2020

829

72%

$2,935,978

31%

Q4 2019

481

18%

$2,247,258

2%

Q4 2018

407

9%

$2,196,090

-6%

Q4 2017

373

baseline

$2,342,509

baseline

2322

21%

$2,697,744

12%

Date

YTD 2020

© Westside Estate Agency

21

YEAR TO DATE SALES 2018

2017 Zip Code

Sales

Average Price

Sales

Δ vs ‘17

Average Price

Δ vs ‘17

90210

283

$5,959,781

268

-5%

$6,250,345

5%

90211

33

$2,406,364

26

-21%

$2,562,962

7%

90212

31

$2,887,406

39

26%

$3,034,526

5%

90069

155

$3,162,136

143

-8%

$3,887,385

23%

90077

145

$5,369,807

113

-22%

$5,884,137

10%

90046

307

$2,332,406

285

-7%

$2,171,614

-7%

90265

230

$4,808,530

234

2%

$5,142,385

7%

90272

279

$3,854,643

240

-14%

$4,521,367

17%

90024

83

$3,701,331

79

-5%

$3,313,925

-10%

90049

313

$3,896,015

303

-3%

$4,545,560

17%

90025

72

$1,940,221

69

-4%

$2,596,225

34%

90402

124

$4,431,266

91

-27%

$4,342,559

-2%

90005

40

$2,530,875

33

-18%

$3,167,818

25%

90027

167

$2,887,200

181

8%

$2,212,865

-23%

90064

265

$2,237,426

221

-17%

$2,253,738

1%

90291

209

$3,077,407

191

-9%

$2,361,698

-23%

90292

50

$2,679,710

34

-32%

$2,972,694

11%

Miami

1638

$2,317,198

1939

18%

$2,384,987

3%

PROPERTIES OF $1M OR MORE 2019

2020

Sales

Δ vs ‘18

Average Price

Δ vs ‘18

Sales

Δ vs ‘19

Average Price

Δ vs ‘19

265

-1%

$6,503,589

4%

286

8%

$8,353,146

28%

30

15%

$3,206,467

25%

30

0%

$2,507,550

-22%

24

-38%

$2,985,271

-2%

23

-4%

$3,097,500

4%

156

9%

$3,583,321

-8%

141

-10%

$4,660,932

30%

137

21%

$5,110,843

-13%

151

10%

$6,331,116

24%

295

4%

$2,262,210

4%

318

8%

$2,142,689

-5%

184

-21%

$4,648,527

-10%

313

70%

$5,450,607

17%

244

2%

$3,998,152

-12%

294

20%

$4,286,492

7%

73

-8%

$3,294,034

-1%

69

-5%

$4,041,822

23%

300

-1%

$4,740,698

4%

309

3%

$4,678,175

-1%

69

0%

$1,915,913

-26%

53

-23%

$1,777,830

-7%

93

2%

$5,104,043

18%

94

1%

$5,343,245

5%

35

6%

$2,198,800

-31%

36

3%

$2,201,875

0%

152

-16%

$2,389,954

8%

187

23%

$2,349,769

-2%

230

4%

$2,236,191

-1%

209

-9%

$2,257,533

1%

181

-5%

$2,423,197

3%

203

12%

$2,272,773

-6%

33

-3%

$2,347,606

-21%

46

39%

$2,524,267

8%

1924

-1%

$2,412,278

1%

2322

21%

$2,697,744

12%

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 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

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