WEA Micro Market Report - Q1 2019

MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #33 04/15/19 FOR Q1 2019 STATISTICS

1

TABLE OF CONTENTS WEA MESSAGE

3

ZIP CODE 90210 - BEVERLY HILLS

4

ZIP CODE 90211 - BEVERLY HILLS

5

ZIP CODE 90069 - SUNSET STRIP

6

ZIP CODE 90077 - BEL AIR

7

ZIP CODE 90046 - WEST HOLLYWOOD

8

ZIP CODE 90265 - MALIBU

9

ZIP CODE 90272 - PACIFIC PALISADES

10

ZIP CODE 90024 - WESTWOOD

11

ZIP CODE 90049 - BRENTWOOD

12

ZIP CODE 90025 - WEST LA

13

ZIP CODE 90402 - SANTA MONICA

14

ZIP CODE 90005 - HANCOCK PARK

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

ZIP CODE 90293 - PLAYA 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 SO, YOU ASK, HOW’S THE MARKET? People ask me about the real estate market about 10 times per day and I am still trying to figure out the appropriate answer. One thing is certain, we do not have a 2008 crisis where the subprime loan market resulted in massive foreclosures. Today, we have the most liquidity in the history of the world and almost all sellers have substantial equity in their homes. However, most of this liquidity is in the hands of private funds who have turned into real estate lenders as return on deposited funds are negligible and banks are still reluctant to make home loans to individuals. Additionally, we are now also experiencing the result of the new tax laws which only allow Californians to deduct $10k of our property taxes and none of the previously deductible State of California income tax of 13.3%. This absolutely makes buyers think long and hard about whether they want to purchase a home.

In looking at the statistics presented in this quarterly report, we see that they are all over the place and not at all consistent from one zip code to another. For example, in the 90210 area of Beverly Hills, the number of transactions compared to 2018 were down 18% but the average sale price was up 29%. In the Bel Air zip code of 90077, transactions were up 22% but the average sale price was down 39%. In the Malibu zip code of 90265, sales were down 35% and the average sale price was also down 36%. Many of these negative statistics might be attributed to both the disastrous fires and the extraordinary winter rains.

I can confidently assert that aspirational pricing is now a thing of the past and there is an overabundance of speculative homes in the market, especially in the Bird streets of 90069 and the Trousdale area of 90210. It seems that a motivated seller who listens to their broker as to the real value versus what that seller would like will result in a sale.

Check your zip code in our report to see the market performance in the first quarter of 2019 vs.

2018. Additionally, the report includes stats going back to 2015 to track the market’s longer performance.

Stephen Shapiro Co-Founder, Westside Estate Agency

3

90210 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

8

PRICE IN MILLIONS

H = 10

HHHHHH 7

AVG. PRICE PER TRANSACTION $

6

5

Q1.

2015

2016

2017

2018

2019

7,394,701

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

5,736,734

QUARTER 1 2019 vs 2018 -18% SALES

+29% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

51

-18%

$7,394,701

29%

Q1. 2018

62

13%

$5,736,734

-14%

Q1. 2017

55

-5%

$6,665,000

27%

Q1. 2016

58

-12%

$5,234,302

-18%

Q1. 2015

66

baseline

$6,363,765

baseline

YTD 2019

51

-18%

$7,394,701

29%

Date

© Westside Estate Agency

4

90211 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

3.0

PRICE IN MILLIONS

H =1

HHHHHH 2.5

AVG. PRICE PER TRANSACTION $

2.0

Q1.

2015

2016

2017

2018

2019

2,626,583

QUARTER 1 2018

H =1

NUMBER OF SALES NUMBER OF SALES

HHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,224,800

QUARTER 1 2019 vs 2018 +20% SALES

+18% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

6

20%

$2,626,583

18%

Q1. 2018

5

-38%

$2,224,800

-23%

Q1. 2017

8

14%

$2,877,375

35%

Q1. 2016

7

17%

$2,129,286

-2%

Q1. 2015

6

baseline

$2,170,917

baseline

YTD 2019

6

20%

$2,626,583

18%

Date

© Westside Estate Agency

5

90069 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H = 10

HHHH 5

AVG. PRICE PER TRANSACTION 4

$

3

Q1.

2015

2016

2017

2018

2019

4,402,821

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

4,342,466

QUARTER 1 2019 vs 2018 +10% SALES

+1% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

32

10%

$4,402,821

1%

Q1. 2018

29

-19%

$4,342,466

14%

Q1. 2017

36

-10%

$3,815,903

-24%

Q1. 2016

40

-2%

$5,027,088

39%

Q1. 2015

41

baseline

$3,609,732

baseline

YTD 2019

32

10%

$4,402,821

1%

Date

© Westside Estate Agency

6

90077 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

10

PRICE IN MILLIONS

H = 10

HHH 8

AVG. PRICE PER TRANSACTION 6

$

4

Q1.

2015

2016

2017

2018

2019

5,457,890

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

8,902,972

QUARTER 1 2019 vs 2018 +22% SALES

-39% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

22

22%

$5,457,890

-39%

Q1. 2018

18

-36%

$8,902,972

44%

Q1. 2017

28

17%

$6,185,143

21%

Q1. 2016

24

-25%

$5,093,875

-27%

Q1. 2015

32

baseline

$6,967,000

baseline

YTD 2019

22

22%

$5,457,890

-39%

Date

© Westside Estate Agency

7

90046 AVG. PRICE PER TRANSACTION

PRICE IN MILLIONS

YTD AVG.

QUARTER 1 2019

QTR. AVG.

H = 10

NUMBER OF SALES

3.0

HHHHHH 2.5

AVG. PRICE PER TRANSACTION $

2.0

1.5

Q1.

2015

2016

2017

2018

2019

2,387,608

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,210,966

QUARTER 1 2019 vs 2018 -7% SALES

+8% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

51

-7%

$2,387,608

8%

Q1. 2018

55

-14%

$2,210,966

-13%

Q1. 2017

64

-23%

$2,535,047

44%

Q1. 2016

83

38%

$1,755,369

-16%

Q1. 2015

60

baseline

$2,092,425

baseline

YTD 2019

51

-7%

$2,387,608

8%

Date

© Westside Estate Agency

8

90265 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

8

PRICE IN MILLIONS

H = 10

HHHH 7 6

AVG. PRICE PER TRANSACTION $

5 4

Q1.

2015

2016

2017

2018

2019

4,204,758

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

6,566,063

QUARTER 1 2019 vs 2018 -35% SALES

-36% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

31

-35%

$4,204,758

-36%

Q1. 2018

48

-2%

$6,566,063

50%

Q1. 2017

49

-11%

$4,369,898

-9%

Q1. 2016

55

-7%

$4,814,965

-20%

Q1. 2015

59

baseline

$6,042,203

baseline

YTD 2019

31

-35%

$4,204,758

-36%

Date

© Westside Estate Agency

9

90272 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H = 10

QUARTER 1 2019

QTR. AVG.

HHHHH

5

AVG. PRICE PER TRANSACTION $

4

3

Q1.

2015

2016

2017

2018

2019

4,405,078 H = 10

QUARTER 1 2018 NUMBER OF SALES

NUMBER OF SALES

HHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

5,121,882

QUARTER 1 2019 vs 2018

2015

-20% SALES

-14% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

45

-20%

$4,405,078

-14%

Q1. 2018

56

-19%

$5,121,882

35%

Q1. 2017

69

17%

$3,804,609

9%

Q1. 2016

59

7%

$3,488,610

-6%

Q1T. 2015

55

baseline

$3,724,331

baseline

YTD 2019

45

-20%

$4,405,078

-14%

Date

© Westside Estate Agency

10

90024 AVG. PRICE PER TRANSACTION

PRICE IN MILLIONS

YTD AVG.

QUARTER 1 2019

QTR. AVG.

H = 10

NUMBER OF SALES

4.0

HH 3.5

AVG. PRICE PER TRANSACTION $

3.0

2.5

Q1.

2015

2016

2017

2018

2019

2,900,083

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

3,583,720

QUARTER 1 2019 vs 2018 -37% SALES

-19% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

12

-37%

$2,900,083

-19%

Q1. 2018

19

19%

$3,583,720

16%

Q1. 2017

16

-27%

$3,100,531

-2%

Q1. 2016

22

69%

$3,149,407

11%

Q1. 2015

13

baseline

$2,834,962

baseline

YTD 2019

12

-37%

$2,900,083

-19%

Date

© Westside Estate Agency

11

90049 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

5

PRICE IN MILLIONS

H = 10

QUARTER 1 2019

QTR. AVG.

HHHHHH

4

AVG. PRICE PER TRANSACTION $

3

2

Q1.

2015

2016

2017

2018

2019

4,487,020 H = 10

QUARTER 1 2018 NUMBER OF SALES

NUMBER OF SALES

HHHHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

4,675,480

QUARTER 1 2019 vs 2018

2015

-21% SALES

-4% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

60

-21%

$4,487,020

-4%

Q1. 2018

76

15%

$4,675,480

12%

Q1. 2017

66

27%

$4,190,750

47%

Q1. 2016

52

6%

$2,841,394

-27%

Q1. 2015

49

baseline

$3,911,633

baseline

YTD 2019

60

-21%

$4,487,020

-4%

Date

© Westside Estate Agency

12

90025 AVG. PRICE PER TRANSACTION

PRICE IN MILLIONS

YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

2.0

HH AVG. PRICE PER TRANSACTION

1.5

$

1.0

Q1.

H =5

2015

2016

2017

2018

2019

1,369,450

QUARTER 1 2018

H =5

NUMBER OF SALES NUMBER OF SALES

HHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

1,598,433

QUARTER 1 2019 vs 2018

2015

-33% SALES

-14% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

10

-33%

$1,369,450

-14%

Q1. 2018

15

7%

$1,598,433

-20%

Q1. 2017

14

-13%

$2,006,286

40%

Q1. 2016

16

7%

$1,433,375

13%

Q1. 2015

15

baseline

$1,273,867

baseline

YTD 2019

10

-33%

$1,369,450

-14%

Date

© Westside Estate Agency

13

90402 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

5

PRICE IN MILLIONS

H =5

HHH 4

AVG. PRICE PER TRANSACTION $

3

Q1.

2015

2016

2017

2018

2019

4,205,143

QUARTER 1 2018

H =5

NUMBER OF SALES NUMBER OF SALES

HHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

4,767,731

QUARTER 1 2019 vs 2018

2015

+8% SALES

-12% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

14

8%

$4,205,143

-12%

Q1. 2018

13

-48%

$4,767,731

32%

Q1. 2017

25

-14%

$3,604,080

-23%

Q1. 2016

29

81%

$4,695,948

10%

Q1. 2015

16

baseline

$4,280,688

baseline

YTD 2019

14

8%

$4,205,143

-12%

Date

© Westside Estate Agency

14

90005 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H =1

HHHHHHH 5 4

AVG. PRICE PER TRANSACTION

3

$

2 1

Q1.

2015

2016

2017

2018

2019

1,406,929

QUARTER 1 2018

H =1

NUMBER OF SALES NUMBER OF SALES

HHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

5,130,714

QUARTER 1 2019 vs 2018 0% SALES

-73% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

7

0%

$1,406,929

-73%

Q1. 2018

7

-13%

$5,130,714

73%

Q1. 2017

8

-11%

$2,961,250

60%

Q1. 2016

9

-40%

$1,852,631

-17%

Q1. 2015

15

baseline

$2,223,733

baseline

YTD 2019

7

0%

$1,406,929

-73%

Date

© Westside Estate Agency

15

90027 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

3.5

PRICE IN MILLIONS

H = 10

HHH 3.0

AVG. PRICE PER TRANSACTION

2.5

$

2.0 1.5

Q1.

2015

2016

2017

2018

2019

1,753,089

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,038,069

QUARTER 1 2019 vs 2018 -22% SALES

-14% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

28

-22%

$1,753,089

-14%

Q1. 2018

36

20%

$2,038,069

-38%

Q1. 2017

30

-30%

$3,284,303

71%

Q1. 2016

43

30%

$1,922,081

18%

Q1. 2015

33

baseline

$1,635,121

baseline

YTD 2019

28

-22%

$1,753,089

-14%

Date

© Westside Estate Agency

16

90064 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

2.5

PRICE IN MILLIONS

H = 10

HHHHH 2.0

AVG. PRICE PER TRANSACTION 1.5

$

1.0

Q1.

2015

2016

2017

2018

2019

2,118,420

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

1,970,244

QUARTER 1 2019 vs 2018 +22% SALES

+8% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

50

22%

$2,118,420

8%

Q1. 2018

41

-31%

$1,970,244

-10%

Q1. 2017

59

31%

$2,179,476

33%

Q1. 2016

45

32%

$1,639,649

18%

Q1. 2015

34

baseline

$1,391,971

baseline

YTD 2019

50

22%

$2,118,420

8%

Date

© Westside Estate Agency

17

90291 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 1 2019

QTR. AVG.

NUMBER OF SALES

5

PRICE IN MILLIONS

H = 10

HHHH 4 3

AVG. PRICE PER TRANSACTION $

2 1

Q1.

2015

2016

2017

2018

2019

2,649,809

QUARTER 1 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,244,176

QUARTER 1 2019 vs 2018 -8% SALES

+18% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

34

-8%

$2,649,809

18%

Q1. 2018

37

-29%

$2,244,176

-45%

Q1. 2017

52

30%

$4,069,567

100%

Q1. 2016

40

14%

$2,039,315

7%

Q1. 2015

35

baseline

$1,912,257

baseline

YTD 2019

34

-8%

$2,649,809

18%

Date

© Westside Estate Agency

18

90292 AVG. PRICE PER TRANSACTION

PRICE IN MILLIONS

YTD AVG.

QUARTER 1 2019

QTR. AVG.

H =1

NUMBER OF SALES

3.0

HH 2.5

AVG. PRICE PER TRANSACTION 2.0

$

1.5

Q1.

2015

2016

2017

2018

2019

2,380,000

QUARTER 1 2018

H =5

NUMBER OF SALES NUMBER OF SALES

HHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,305,880

QUARTER 1 2019 vs 2018 -83% SALES

+3% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

2

-83%

$2,380,000

3%

Q1. 2018

12

20%

$2,305,880

-13%

Q1. 2017

10

0%

$2,650,700

43%

Q1. 2016

10

-23%

$1,849,150

-23%

Q1. 2015

13

baseline

$2,403,846

baseline

YTD 2019

2

-83%

$2,380,000

3%

Date

© Westside Estate Agency

19

90293 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

2.0

PRICE IN MILLIONS

H =5

QUARTER 1 2019

QTR. AVG.

HHHH AVG. PRICE PER TRANSACTION $ 1.5

Q1.

2015

2016

2017

2018

2019

1,606,342 H =5

QUARTER 1 2018 NUMBER OF SALES

NUMBER OF SALES

HHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

1,711,563

QUARTER 1 2019 vs 2018 +19% SALES

-6% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

19

19%

$1,606,342

-6%

Q1. 2018

16

23%

$1,711,563

0%

Q1. 2017

13

18%

$1,719,923

12%

Q1. 2016

11

-27%

$1,535,955

-9%

Q1. 2015

15

baseline

$1,693,033

baseline

YTD 2019

19

19%

$1,606,342

-6%

Date

© Westside Estate Agency

20

MIAMI MARKET VIEW

METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION YTD AVG.

QTR. AVG.

3.0

PRICE IN MILLIONS

H = 50

QUARTER 1 2019 AVG. NUMBER OF SALES

HHHHHHHH AVG. PRICE PER TRANSACTION 2.5

$

H =50

QUARTER 1 2018

2.0

Q1.

2,732,346

2015

2016

2017

2018

2019

AVG. NUMBER OF SALES

HHHHHHHHHH

NUMBER OF SALES

AVG. PRICE PER TRANSACTION 2019 2018

$

2,347,689

2017 2016 2015

QUARTER 1 2019 vs 2018 -28% SALES

+14% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q1. 2019

363

-21%

$2,732,346

16%

Q1. 2018

458

18%

$2,347,689

-8%

Q1. 2017

389

-11%

$2,544,330

10%

Q1. 2016

435

-14%

$2,307,504

-4%

Q1. 2015

504

baseline

$2,395,744

baseline

YTD 2019

363

-21%

$2,732,346

16%

Date

© Westside Estate Agency

21

YEAR TO DATE SALES 2015

2016

2017

Zip Code

Sales

Average Price

Sales

Δ vs ‘15

Average Price

Δ vs ‘15

Sales

Δ vs ‘16

Average Price

Δ vs ‘16

90210

66

$6,363,765

58

-12%

$5,234,302

-18%

55

-5%

$6,665,000

27%

90211

6

$2,170,917

7

17%

$2,129,286

-2%

8

14%

$2,877,375

35%

90069

41

$3,609,732

40

-2%

$5,027,088

39%

36

-10%

$3,815,903

-24%

90077

32

$6,967,000

24

-25%

$5,093,875

-27%

28

17%

$6,185,143

21%

90046

60

$2,092,425

83

38%

$1,755,369

-16%

64

-23%

$2,535,047

44%

90265

59

$6,042,203

55

-7%

$4,814,965

-20%

49

-11%

$4,369,898

-9%

90272

55

$3,724,331

59

7%

$3,488,610

-6%

69

17%

$3,804,609

9%

90024

13

$2,834,962

22

69%

$3,149,407

11%

16

-27%

$3,100,531

-2%

90049

49

$3,911,633

52

6%

$2,841,394

-27%

66

27%

$4,190,750

47%

90025

15

$1,273,867

16

7%

$1,433,375

13%

14

-13%

$2,006,286

40%

90402

16

$4,280,688

29

81%

$4,695,948

10%

25

-14%

$3,604,080

-23%

90005

15

$2,223,733

9

-40%

$1,852,631

-17%

8

-11%

$2,961,250

60%

90027

33

$1,635,121

43

30%

$1,922,081

18%

30

-30%

$3,284,303

71%

90064

34

$1,391,971

45

32%

$1,639,649

18%

59

31%

$2,179,476

33%

90291

35

$1,912,257

40

14%

$2,039,315

7%

52

30%

$4,069,567

100%

90292

13

$2,403,846

10

-23%

$1,849,150

-23%

10

0%

$2,650,700

43%

90293

15

$1,693,033

11

-27%

$1,535,955

-9%

13

18%

$1,719,923

12%

Miami

504

$2,395,744

435

-14%

$2,307,504

-4%

389

-11%

$2,544,330

10%

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

62

13%

$5,736,734

-14%

51

-18%

$7,394,701

29%

5

-38%

$2,224,800

-23%

6

20%

$2,626,583

18%

29

-19%

$4,342,466

14%

32

10%

$4,402,821

1%

18

-36%

$8,902,972

44%

22

22%

$5,457,890

-39%

55

-14%

$2,210,966

-13%

51

-7%

$2,387,608

8%

48

-2%

$6,566,063

50%

31

-35%

$4,204,758

-36%

56

-19%

$5,121,882

35%

45

-20%

$4,405,078

-14%

19

19%

$3,583,720

16%

12

-37%

$2,900,083

-19%

76

15%

$4,675,480

12%

60

-21%

$4,487,020

-4%

15

7%

$1,598,433

-20%

10

-33%

$1,369,450

-14%

13

-48%

$4,767,731

32%

14

8%

$4,205,143

-12%

7

-13%

$5,130,714

73%

7

0%

$1,406,929

-73%

36

20%

$2,038,069

-38%

28

-22%

$1,753,089

-14%

41

-31%

$1,970,244

-10%

50

22%

$2,118,420

8%

37

-29%

$2,244,176

-45%

34

-8%

$2,649,809

18%

12

20%

$2,305,880

-13%

2

-83%

$2,380,000

3%

16

23%

$1,711,563

0%

19

19%

$1,606,342

-6%

458

18%

$2,347,689

-8%

363

-21%

$2,732,346

16%

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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