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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