WEA Micro Market Report - Q2 2019

MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #34 07/17/19 FOR Q2 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 SUMMER IS UPON US As the summer began, so did a flurry of big deals, albeit at what appears to be discounted prices.

Upon further reflection, it is clear that most of them are not actually discounted prices. Rather, the initial listing prices were aspirational. When reduced to a more realistic value, these homes seem to sell. The time has come for real estate agents to act responsibly by sharing market conditions with sellers rather than simply listing homes at the price the seller wants without providing them knowledge of the market. It is our job to educate our clients. Most sellers are selling one house after owning it for an extended period of time. In contrast, real estate agents are studying the market, viewing properties, and tracking asking prices versus selling prices on a daily basis. Therefore, we must share this information with our sellers and do our best to list their homes at realistic prices.

Speculative houses are a different story. In Los Angeles, they have been built in numbers far exceeding the available pool of buyers. Builders of these speculative homes need to understand that their profit will be far less than what it was when the number of buyers exceeded the number of available houses.

The truth will prevail, and seasoned, competent agents must lead the way to responsible pricing.

Stephen Shapiro Co-Founder, Westside Estate Agency

3

90210 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

8

PRICE IN MILLIONS

H = 10

QUARTER 2 2019

QTR. AVG.

HHHHHHHH 7

AVG. PRICE PER TRANSACTION 6

$

5

Q2.

2015

2016

2017

2018

2019

6,774,957

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

5,532,984

QUARTER 2 2019 vs 2018 +14% SALES

+22% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

73

14%

$6,774,957

22%

Q2. 2018

64

-28%

$5,532,984

-21%

Q2. 2017

89

16%

$7,041,944

5%

Q2. 2016

77

-16%

$6,699,974

4%

Q2. 2015

92

baseline

$6,411,875

baseline

YTD 2019

124

-2%

$7,029,852

25%

Date

© Westside Estate Agency

4

90211 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

3.5

PRICE IN MILLIONS

H =1

HHHHHHHHHH 3.0

AVG. PRICE PER TRANSACTION 2.5

$

2.0

Q2.

2015

2016

2017

2018

2019

2,782,200

QUARTER 2 2018

H =1

NUMBER OF SALES NUMBER OF SALES

HHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

3,049,714

QUARTER 2 2019 vs 2018 +43% SALES

-9% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

10

43%

$2,782,200

-9%

Q2. 2018

7

-46%

$3,049,714

48%

Q2. 2017

13

160%

$2,060,769

-14%

Q2. 2016

5

-58%

$2,389,500

-5%

Q2. 2015

12

baseline

$2,503,458

baseline

YTD 2019

16

33%

$2,723,844

1%

Date

© Westside Estate Agency

5

90069 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

5

PRICE IN MILLIONS

H = 10

HHHH 4

AVG. PRICE PER TRANSACTION $

3,851,486

3

Q2.

2015

2016

2017

2018

2019

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

3,707,852

QUARTER 2 2019 vs 2018

2015

-20% SALES

+4% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

35

-20%

$3,851,486

4%

Q2. 2018

44

0%

$3,707,852

17%

Q2. 2017

44

10%

$3,179,932

-15%

Q2. 2016

40

5%

$3,759,351

-10%

Q2. 2015

38

baseline

$4,195,474

baseline

YTD 2019

67

-8%

$4,114,810

4%

Date

© Westside Estate Agency

6

90077 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

8

PRICE IN MILLIONS

H = 10

HHHHH 7 6

AVG. PRICE PER TRANSACTION $

5 4

Q2.

2015

2016

2017

2018

2019

4,014,500

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

6,449,815

QUARTER 2 2019 vs 2018 +22% SALES

-38% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

45

22%

$4,014,500

-38%

Q2. 2018

37

-14%

$6,449,815

29%

Q2. 2017

43

34%

$5,014,349

-13%

Q2. 2016

32

-14%

$5,788,813

-24%

Q2. 2015

37

baseline

$7,609,500

baseline

YTD 2019

67

22%

$4,488,449

-38%

Date

© Westside Estate Agency

7

90046 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

2.5

PRICE IN MILLIONS

H = 10

QUARTER 2 2019

QTR. AVG.

HHHHHHHHH 2.0

AVG. PRICE PER TRANSACTION $

1.5

Q2.

2015

2016

2017

2018

2019

1,978,476 H = 10

QUARTER 2 2018 NUMBER OF SALES

NUMBER OF SALES

HHHHHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

2,204,114

QUARTER 2 2019 vs 2018

2015

1% SALES

-10% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

84

1%

$1,978,476

-10%

Q2. 2018

83

1%

$2,204,114

8%

Q2. 2017

82

21%

$2,033,422

14%

Q2. 2016

68

-32%

$1,776,949

1%

Q2. 2015

100

baseline

$1,751,396

baseline

YTD 2019

135

-2%

$2,133,037

-3%

Date

© Westside Estate Agency

8

90265 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

8

PRICE IN MILLIONS

H = 10

QUARTER 2 2019

QTR. AVG.

HHHHH

7 6

AVG. PRICE PER TRANSACTION

5

$ 4 3

Q2.

2015

2016

2017

2018

2019

4,747,223 H = 10

QUARTER 2 2018 NUMBER OF SALES

NUMBER OF SALES

HHHHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

6,808,514

QUARTER 2 2019 vs 2018

2015

-35% SALES

-30% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

47

-35%

$4,747,223

-30%

Q2. 2018

72

7%

$6,808,514

15%

Q2. 2017

67

8%

$5,901,688

42%

Q2. 2016

62

-7%

$4,155,306

11%

Q2. 2015

67

baseline

$3,759,888

baseline

YTD 2019

78

-35%

$4,531,628

-32%

Date

© Westside Estate Agency

9

90272 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H = 10

HHHHH 5

AVG. PRICE PER TRANSACTION 4

$

3,288,384

3

Q2.

2015

2016

2017

2018

2019

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

5,319,667

QUARTER 2 2019 vs 2018 -28% SALES

-38% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

50

-28%

$3,288,384

-38%

Q2. 2018

69

-13%

$5,319,667

36%

Q2. 2017

79

-1%

$3,917,127

12%

Q2. 2016

80

-15%

$3,487,341

-2%

Q2T. 2015

94

baseline

$3,564,729

baseline

YTD 2019

95

-24%

$3,817,344

-27%

Date

© Westside Estate Agency

10

90024 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

5

PRICE IN MILLIONS

H = 10

HHH 4

AVG. PRICE PER TRANSACTION 3

$

2

Q2.

2015

2016

2017

2018

2019

2,680,413

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

4,472,325

QUARTER 2 2019 vs 2018 15% SALES

-40% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

23

15%

$2,680,413

-40%

Q2. 2018

20

-20%

$4,472,325

2%

Q2. 2017

25

-26%

$4,391,840

43%

Q2. 2016

34

100%

$3,080,838

14%

Q2. 2015

17

baseline

$2,691,824

baseline

YTD 2019

35

-10%

$2,755,729

-32%

Date

© Westside Estate Agency

11

90049 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H = 10

QUARTER 2 2019

QTR. AVG.

HHHHHHHHH 5

AVG. PRICE PER TRANSACTION 4

$

3

Q2.

2015

2016

2017

2018

2019

5,517,608

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

5,078,471

QUARTER 2 2019 vs 2018

2015

28% SALES

9% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

88

28%

$5,517,608

9%

Q2. 2018

69

-26%

$5,078,471

39%

Q2. 2017

93

22%

$3,660,335

-11%

Q2. 2016

76

-14%

$4,127,578

15%

Q2. 2015

88

baseline

$3,593,839

baseline

YTD 2019

148

2%

$5,099,802

5%

Date

© Westside Estate Agency

12

90025 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

2.5

PRICE IN MILLIONS

H = 10

HHH 2.0

AVG. PRICE PER TRANSACTION 1.5

$

2,275,523

1.0

Q2.

2015

2016

2017

2018

2019

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

1,841,625

QUARTER 2 2019 vs 2018

2015

-8% SALES

24% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

22

-8%

$2,275,523

24%

Q2. 2018

24

-11%

$1,841,625

3%

Q2. 2017

27

13%

$1,790,167

23%

Q2. 2016

24

9%

$1,460,688

5%

Q2. 2015

22

baseline

$1,392,252

baseline

YTD 2019

32

-18%

$1,992,375

14%

Date

© Westside Estate Agency

13

90402 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

6

PRICE IN MILLIONS

H = 10

HHH 5

AVG. PRICE PER TRANSACTION 4

$

5,889,182

3

Q2.

2015

2016

2017

2018

2019

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

4,164,914

QUARTER 2 2019 vs 2018 -24% SALES

41% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

22

-24%

$5,889,182

41%

Q2. 2018

29

-19%

$4,164,914

-7%

Q2. 2017

36

44%

$4,473,944

-6%

Q2. 2016

25

0%

$4,769,220

23%

Q2. 2015

25

baseline

$3,865,600

baseline

YTD 2019

36

-14%

$5,234,278

20%

Date

© Westside Estate Agency

14

90005 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

4.0

PRICE IN MILLIONS

H =1

QUARTER 2 2019

QTR. AVG.

HHHHHHHHH

3.5 3.0

AVG. PRICE PER TRANSACTION

2.5

$ 2.0 1.5

Q2.

2015

2016

2017

2018

2019

1,993,611

QUARTER 2 2018

H =1

NUMBER OF SALES NUMBER OF SALES

HHHHHHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,870,818

QUARTER 2 2019 vs 2018 -18% SALES

-31% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

9

-18%

$1,993,611

-31%

Q2. 2018

11

-27%

$2,870,818

60%

Q2. 2017

15

25%

$1,797,267

18%

Q2. 2016

12

50%

$1,522,667

-33%

Q2. 2015

8

baseline

$2,283,750

baseline

YTD 2019

16

-11%

$1,736,938

-54%

Date

© Westside Estate Agency

15

90027 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

3.0

PRICE IN MILLIONS

H = 10

HHHHH 2.5 2.0

AVG. PRICE PER TRANSACTION $

1.5 1.0

Q2.

2015

2016

2017

2018

2019

2,049,671

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

2,230,842

QUARTER 2 2019 vs 2018

2015

-24% SALES

-8% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

41

-24%

$2,049,671

-8%

Q2. 2018

54

2%

$2,230,842

-16%

Q2. 2017

53

10%

$2,646,521

78%

Q2. 2016

48

-2%

$1,487,250

-3%

Q2. 2015

49

baseline

$1,531,418

baseline

YTD 2019

69

-23%

$1,929,319

-10%

Date

© Westside Estate Agency

16

90064 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

2.5

PRICE IN MILLIONS

H = 10

QUARTER 2 2019

QTR. AVG.

HHHHHHHH 2.0

AVG. PRICE PER TRANSACTION 1.5

$

1.0

Q2.

2015

2016

2017

2018

2019

2,030,662

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

2,017,098

QUARTER 2 2019 vs 2018

2015

+31% SALES

+1% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

80

31%

$2,030,662

1%

Q2. 2018

61

-15%

$2,017,098

-6%

Q2. 2017

72

29%

$2,134,682

15%

Q2. 2016

56

8%

$1,859,102

26%

Q2. 2015

52

baseline

$1,479,354

baseline

YTD 2019

130

27%

$2,064,415

3%

Date

© Westside Estate Agency

17

90291 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

3.5

PRICE IN MILLIONS

H = 10

HHHHH 3.0

AVG. PRICE PER TRANSACTION 2.5

$

2.0

Q2.

2015

2016

2017

2018

2019

2,278,109

QUARTER 2 2018

H = 10

NUMBER OF SALES NUMBER OF SALES

HHHHHH AVG. PRICE PER TRANSACTION

2019

$

2018 2017 2016

2,225,202

QUARTER 2 2019 vs 2018

2015

-12% SALES

2% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

46

-12%

$2,278,109

2%

Q2. 2018

52

6%

$2,225,202

-19%

Q2. 2017

49

-6%

$2,732,920

35%

Q2. 2016

52

-9%

$2,022,471

-3%

Q2. 2015

57

baseline

$2,082,912

baseline

YTD 2019

80

-10%

$2,436,081

9%

Date

© Westside Estate Agency

18

90292 AVG. PRICE PER TRANSACTION YTD AVG.

NUMBER OF SALES

3.0

PRICE IN MILLIONS

H =1

QUARTER 2 2019

QTR. AVG.

HHHHHHHHHHH 2.5

AVG. PRICE PER TRANSACTION 2.0

$

1.5

Q2.

2015

2016

2017

2018

2019

2,365,182 H =1

QUARTER 2 2018 NUMBER OF SALES

NUMBER OF SALES

HHHHHHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

2,724,688

QUARTER 2 2019 vs 2018 38% SALES

-13% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

11

38%

$2,365,182

-13%

Q2. 2018

8

-27%

$2,724,688

2%

Q2. 2017

11

22%

$2,668,545

6%

Q2. 2016

9

125%

$2,518,778

40%

Q2. 2015

4

baseline

$1,797,500

baseline

YTD 2019

13

-35%

$2,367,462

-4%

Date

© Westside Estate Agency

19

90293 AVG. PRICE PER TRANSACTION YTD AVG.

QUARTER 2 2019

QTR. AVG.

NUMBER OF SALES

2.5

PRICE IN MILLIONS

H =5

HH 2.0

AVG. PRICE PER TRANSACTION $

1.5

Q2.

2015

2016

2017

2018

2019

1,842,714

QUARTER 2 2018

H =5

NUMBER OF SALES NUMBER OF SALES

HHHH 2019 2018 2017 2016 2015

AVG. PRICE PER TRANSACTION $

1,997,647

QUARTER 2 2019 vs 2018 -59% SALES

-8% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

7

-59%

$1,842,714

-8%

Q2. 2018

17

-11%

$1,997,647

5%

Q2. 2017

19

46%

$1,897,868

23%

Q2. 2016

13

86%

$1,546,692

-28%

Q2. 2015

7

baseline

$2,162,571

baseline

YTD 2019

26

-21%

$1,669,981

-10%

Date

© Westside Estate Agency

20

MIAMI MARKET VIEW

METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION YTD AVG.

QTR. AVG.

PRICE IN MILLIONS

H = 100

QUARTER 2 2019

3.0

AVG. NUMBER OF SALES

HHHHHH AVG. PRICE PER TRANSACTION

2.5

$

H =100

QUARTER 2 2018

2.0

Q2.

2,706,418

2015

2016

2017

2018

2019

AVG. NUMBER OF SALES

HHHHHHH

NUMBER OF SALES

AVG. PRICE PER TRANSACTION 2019

$

2018

2,451,254

2017

QUARTER 2 2019 vs 2018

2016 2015

-11% SALES

+10% PRICE

Sales

Δ vs Previous Year

Avg. Price

Δ vs Previous Year

Q2. 2019

545

-11%

$2,706,418

10%

Q2. 2018

612

19%

$2,451,254

10%

Q2. 2017

515

7%

$2,233,529

-10%

Q2. 2016

480

-19%

$2,478,523

4%

Q2. 2015

595

baseline

$2,378,192

baseline

YTD 2019

931

-13%

$2,451,254

-1%

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

158

$6,391,778

135

-15%

$6,070,278

-5%

144

7%

$6,897,972

14%

90211

18

$2,392,611

12

-33%

$2,237,708

-6%

21

75%

$2,371,857

6%

90069

79

$3,891,481

80

1%

$4,393,219

13%

80

0%

$3,466,119

-21%

90077

69

$7,311,529

56

-19%

$5,490,982

-25%

71

27%

$5,476,070

0%

90046

160

$1,879,282

151

-6%

$1,765,087

-6%

146

-3%

$2,253,312

28%

90265

126

$4,828,591

117

-7%

$4,465,403

-8%

116

-1%

$5,254,639

18%

90272

149

$3,623,642

139

-7%

$3,487,880

-4%

148

6%

$3,864,669

11%

90024

30

$2,753,850

56

87%

$3,107,776

13%

41

-27%

$3,887,915

25%

90049

137

$3,707,502

128

-7%

$3,605,066

-3%

159

24%

$3,880,507

8%

90025

37

$1,344,258

40

8%

$1,449,763

8%

41

2%

$1,863,963

29%

90402

41

$4,027,585

54

32%

$4,729,870

17%

61

13%

$4,117,443

-13%

90005

23

$2,244,609

21

-9%

$1,664,080

-26%

23

10%

$2,202,130

32%

90027

82

$1,573,152

91

11%

$1,692,720

8%

83

-9%

$2,877,044

70%

90064

86

$1,444,807

101

17%

$1,761,326

22%

131

30%

$2,154,857

22%

90291

92

$2,017,989

92

0%

$2,029,795

1%

101

10%

$3,421,095

69%

90292

17

$2,261,176

19

12%

$2,166,342

-4%

21

11%

$2,660,048

23%

90293

22

$1,842,432

24

9%

$1,541,771

-16%

32

33%

$1,825,578

18%

Miami

1099

$2,386,242

915

-17%

$2,397,218

0%

904

-1%

$2,367,270

-1%

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

126

-13%

$5,633,242

-18%

124

-2%

$7,029,852

25%

12

-43%

$2,706,000

14%

16

33%

$2,723,844

1%

73

-9%

$3,959,959

14%

67

-8%

$4,114,810

4%

55

-23%

$7,252,667

32%

67

22%

$4,488,449

-38%

138

-5%

$2,206,845

-2%

135

-2%

$2,133,037

-3%

120

3%

$6,711,533

28%

78

-35%

$4,531,628

-32%

125

-16%

$5,231,059

35%

95

-24%

$3,817,344

-27%

39

-5%

$4,039,415

4%

35

-10%

$2,755,729

-32%

145

-9%

$4,867,248

25%

148

2%

$5,099,802

5%

39

-5%

$1,748,090

-6%

32

-18%

$1,992,375

14%

42

-31%

$4,351,500

6%

36

-14%

$5,234,278

20%

18

-22%

$3,749,667

70%

16

-11%

$1,736,938

-54%

90

8%

$2,153,733

-25%

69

-23%

$1,929,319

-10%

102

-22%

$1,998,265

-7%

130

27%

$2,064,415

3%

89

-12%

$2,233,090

-35%

80

-10%

$2,436,081

9%

20

-5%

$2,473,403

-7%

13

-35%

$2,367,462

-4%

33

3%

$1,858,939

2%

26

-21%

$1,669,981

-10%

1070

18%

$2,472,615

4%

931

-13%

$2,451,254

-1%

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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