WEA Micro Market Report - February 2016

1

Micro Market reportLos angeLes & MiaMi

issue #12 03/15/16 for 02/15/16 statistics

2

Table of ConTenTs

zip Code 90210 - Beverly Hills

zip Code 90211 - 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 90049 - BrentWood

zip Code 90025 - West lA

zip Code 90201/90402 - sAntA moniCA

zip Code 90005 - HAnCoCk pArk

zip Code 90027 - los feliz

zip Code 90064 - CHeviot Hills

zip Code 90291 - veniCe

zip Code 90292 - mArinA del rey

miAmi mArket overvieW

All zip Codes yeAr to dAte sAles

WeA messAge

ABout WeA

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

22

23

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.

3© Westside estate Agency

date sales Δ vs previous year Avg. price Δ vs previous year

feB. 2016 22 +16% $5,106,932 -34%

feB. 2015 19 +58% $7,748,719 +16%

feB. 2014 12 +140% $6,668,583 +84%

feB. 2010 5 +25% $3,617,000 -62%

feB. 2007 4 baseline $9,462,500 baseline

ytd 2016 41 +46% $5,633,354 -33%

avg. PriCe Per TransaCTion

number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H H H H H H H H H


5,106,932$

H H H H


9,462,500$

+375% sales

February 2016 vs 2007

-46% PriCe

Pr

ice

in

mil

lio

ns

90210

2007 2010 2014 2015 2016feB.

feB. 2007 2010 2014 2015 2016

0

2

4

6

8

10



number of sales

number of sales

number of sales

February 2016

February 2007

H H


2,525,000$


Pr

ice

in

mil

lio

ns

90211


1,919,000

+100% sales +32% PriCe

feB.

feB.

H H


feB. 2016 2 -50% $2,525,000 +41%

feB. 2015 4 +33% $1,787,125 -1%

feB. 2014 3 +200% $1,799,000 +29%

feB. 2010 1 -50% $1,400,000 -27%


ytd 2016 6 +20% $2,141,333 +16%

$

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0

2.5

3.0



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H


3,797,222$


1,715,000

+650% sales


+121% PriCe

Pr

ice

in

mil

lio

ns

90069

feB.

feB.


feB. 2016 9 -40% $3,797,222 +25%

feB. 2015 15 +650% $3,046,667 -69%

feB. 2014 2 +100% $9,912,500 +501%

feB. 2010 1 -50% $1.650,000 -4%


ytd 2016 20 -20% $4,894,000 +9%

$

H H

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0

2

4

6

8

10



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H


5,054,375$


not avail

+/-0% sales


+/-0% PriCe

Pr

ice

in

mil

lio

ns

90077

feB.

feB.


feB. 2016 8 +33% $5,054,375 +27%

feB. 2015 6 0% $3,973,333 -15%

feB. 2014 6 +20% $4,695,000 +120%


feB. 2007 0 0 0 0

ytd 2016 17 +21% $5,829,353 +41%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0

1

2

3

4

5

6



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H H H H H H H H H H HH H H Havg. PriCe Per TransaCTion

1,939,732$

H H H


989,333$

+433% sales


+96% PriCe

Pr

ice

in

mil

lio

ns

90046

feB.

feB.


feB. 2016 28 +75% $1,939,732 +13%

feB. 2015 16 +14% $1,710,094 -33%

feB. 2014 14 +75% $2,558,179 +157%

feB. 2010 8 +167% $996,125 +1%

feB. 2007 3 baseline $989,333 baseline

ytd 2016 49 +26% $1,770,582 -2%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0

2.5

3.0



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H H


4,612,333$


4,267,500

+183% sales


+8% PriCe

Pr

ice

in

mil

lio

ns

90265

feB.

feB.

$

H H H H H H


feB. 2016 15 -12% $4,612,333 -21%

feB. 2015 17 +113% $5,810,159 +16%

feB. 2014 8 +700% $5,012,375 -40%

feB. 2010 1 -83% $8,375,000 +96%


ytd 2016 30 -3% $5,423,303 -22%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0

2

4

6

8

10



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H H


3,357,300$

H H H


2,960,000$

+433% sales


+13% PriCe

Pr

ice

in

mil

lio

ns

90272

feB.

feB.


feB. 2016 15 -6% $3,357,300 +10%

feB. 2015 16 -6% $3,052,063 -2%

feB. 2014 17 +467% $3,101,941 +181%

feB. 2010 3 0% $1,102,333 -63%


ytd 2016 35 +13% $3,460,814 +3%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H


2,746,000$


2,681,333

+100% sales


+2% PriCe

Pr

ice

in

mil

lio

ns

90024

feB.

feB.

H H H

$


feB. 2016 6 0% $2,746,000 -3%

feB. 2015 6 0% $2,844,333 -66%

feB. 2014 6 +500% $8,280,000 +381%

feB. 2010 1 -67% $1,720,000 -36%


ytd 2016 10 0% $3,574,646 +19%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0

2

4

6

8

10



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H HH H H H H H H


2,676,658$


$4,480,000

+650% sales


-40% PriCe

Pr

ice

in

mil

lio

ns

90049

feB.

feB.


feB. 2016 19 +27% $2,676,658 -24%

feB. 2015 15 +88% $3,542,740 -7%

feB. 2014 8 -20% $3,814,500 +75%

feB. 2010 10 +400% $2,179,550 -51%


ytd 2016 37 +28% $2,681,973 -30%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

H H

0

1

2

3

4

5



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H


1,272,571$

H H H


811,833$

+67% sales


+57% PriCe

Pr

ice

in

mil

lio

ns

90025

feB.

feB.


feB. 2016 7 +40% $1,272,571 -5%

feB. 2015 5 +400% $1,342,100 -14%

feB. 2014 1 0% $1,555,000 +106%

feB. 2010 1 -67% $756,500 -7%


ytd 2016 12 +33% $1,518,583 +18%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H


4,417,615$


3,746,667

+67% sales


+18% PriCe

Pr

ice

in

mil

lio

ns

90402

feB.

feB.

H H H


feB. 2016 13 +160% $4,417,615 +19%

feB. 2015 5 -17% $3,727,500 +12%

feB. 2014 6 +500% $3,315,833 +102%

feB. 2010 1 -67% $1,638,000 -56%


ytd 2016 18 +80% $4,143,972 -7%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

$

0

1

2

3

4

5



number of sales

number of sales

February 2016

February 2007

H H H


1,220,000$


Pr

ice

in

mil

lio

ns

90005

number of sales


+/-0% sales +/-0% PriCe

feB.

feB.

not avail.


feB. 2016 3 -25% $1,220,000 -45%

feB. 2015 4 -20% $2,215,000 +3%

feB. 2014 5 +400% $2,145,000 +14%

feB. 2010 1 0% $1,875,000 0%

feB. 2007 0 baseline 0 baseline

ytd 2016 5 -29% $1,995,636 -26%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0

2.5

3.0



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H H H H H H H


2,109,189$

H H


1,285,000$

+300% sales


+64% PriCe

Pr

ice

in

mil

lio

ns

90027

feB.

feB.


feB. 2016 20 +150% $2,109,189 +12%

feB. 2015 8 +33% $1,878,438 +52%

feB. 2014 6 +50% $1,238,333 +73%

feB. 2010 4 +100% $714,250 -44%


ytd 2016 32 +45% $1,801,774 +6%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0

2.5



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H


1,462,927$

H H H H


756,625$

+225% sales


+93% PriCe

Pr

ice

in

mil

lio

ns

90064

feB.

feB.


feB. 2016 11 -15% $1,462,927 -5%

feB. 2015 13 +44% $1,539,692 +18%

feB. 2014 9 +125% $1,308,667 +70%

feB. 2010 4 0% $771,250 +2%


ytd 2016 27 +4% $1,613,915 +17%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0



number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H H H H H H H


1,583,179$

H H H


1,140,000$

+200% sales


+39% PriCe

Pr

ice

in

mil

lio

ns

90291

feB.

feB.


feB. 2016 14 +56% $1,583,179 -8%

feB. 2015 9 +50% $1,719,667 -6%

feB. 2014 6 +100% $1,830,667 +173%

feB. 2010 3 0% $670,333 -41%


ytd 2016 24 -4% $1,869,750 +11%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

0.0

0.5

1.0

1.5

2.0



number of sales

number of sales

number of sales

February 2016

February 2007




Pr

ice

in

mil

lio

ns

90292

+300% sales -57% PriCe

H H H

1,571,667$

H

3,627,500

feB.

feB.


feB. 2016 3 -25% $1,571,667 -49%

feB. 2015 4 +33% $3,059,625 +69%

feB. 2014 3 +200% $1,809,667 +137%

feB. 2010 1 0% $762,500 -79%


ytd 2016 7 +17% $1,831,429 -31%

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

$

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

19

miami market view

Metro MiaMi overviewavg. PriCe Per TransaCTion

number of sales

number of sales

number of sales

February 2016

February 2007

H H H H H H H H


2,134,255$

H H H H H


1,870,537$

+49% sales


+14% PriCe

Pr

ice

in

mil

lio

ns

H = 20

feB.

feB.

H = 20

© Westside estate Agency


feB. 2016 145 -12% $1,134,255 -11%

feB. 2015 165 +22% $2,394,610 +10%

feB. 2014 135 +137% $2,173,920 +23%

feB. 2010 57 -41% $1,769,581 -5%


ytd 2016 282 -12% $2,155,583 -3%

0.0

0.5

1.0

1.5

2.0

2.5

2007 2010 2014 2015 2016

2007 2010 2014 2015 2016

20

2007 2010 2014

zip Code sales Average price sales Δ vs ‘07 Average price Δ vs ‘07 sales Δ vs ‘10 Average price Δ vs ‘10

90210 7 $6,597,857 12 +71% $4,476,042 -32% 30 +150% $5,840,333 +30%

90211 3 $1,754,333 2 -33% $1,587,500 -10% 5 +150% $1,927,900 +21%

90069 3 $1,410,000 6 +100% $2,117,000 +50% 8 +33% $4,569,313 +116%

90077 1 $1,472,000 6 +500% $1,893,000 +29% 14 +133% $3,583,071 +89%

90046 9 $3,102,889 14 +56% $951,429 -69% 28 +100% $1,830,357 +92%

90265 14 $6,028,179 6 -57% $4,359,583 -28% 14 +133% $4,864,929 +12%

90272 6 $3,371,583 18 +200% $1,953,361 -42% 33 +83% $3,000,697 +54%

90024 4 $2,261,000 3 -25% $1,958,333 -13% 9 +200% $6,227,611 +218%

90049 2 $4,480,000 17 +750% $2,433,324 -46% 23 +35% $3,023,617 +24%

90025 4 $853,250 3 -25% $870,500 +2% 2 -33% $1,236,500 +42%

90402 3 $3,746,667 5 +67% $1,874,600 -50% 6 +20% $3,315,833 +77%

90005 1 $1,150,000 2 +100% $1,284,000 +12% 6 +200% $1,870,833 +46%

90027 6 $1,426,667 9 +50% $849,778 -40% 8 -11% $1,354,438 +59%

90064 10 $951,350 9 -10% $987,444 +4% 19 +111% $1,362,464 +38%

90291 7 $1,135,429 7 0% $948,857 -16% 20 +186% $1,546,805 +63%

90292 1 $3,627,500 1 0% $762,500 -79% 4 +300% $1,869,750 +145%

miami 182 $1,852,300 113 -38% $1,766,146 -5% 313 +177% $2,131,242 +21%

Year to Date saLes of properties of $1M or More

21

2015 Δ 2007 vs 20162016

Year to Date saLes of properties of $1M or More

sales Δ vs ‘14 Average price Δ vs ‘14 sales Δ vs ‘14 Average price Δ vs ‘14 sales Average price

28 -7% $8,349,845 43% 41 +46% $5,633,354 -33% +486% -15%

5 0% $1,853,700 -4% 6 +20% $2,141,333 +16% +100% +22%

25 +213% $4,498,780 -2% 20 -20% $4,894,000 +9% +567% +247%

14 0% $4,127,643 15% 17 +21% $5,829,353 +41% +1600% +296%

39 +39% $1,804,756 -1% 49 +26% $1,770,582 -2% +444% -43%

31 +121% $6,921,668 +42% 30 -3% $5,423,303 -22% +114% -10%

31 -6% $3,354,853 +12% 35 +13% $3,460,814 +3% +483% +3%

10 +11% $2,999,250 -52% 10 0% $3,574,646 +19% +150% +58%

29 +26% $3,840,814 +27% 37 +28% $2,681,973 -30% +1750% -40%

9 +350% $1,287,556 +4% 12 +33% $1,518,583 +18% +200% +78%

10 +67% $4,476,600 +35% 18 +80% $4,143,972 -7% +500% +11%

7 +17% $2,693,000 +44% 5 -29% $1,995,636 -26% +400% +74%

22 +175% $1,701,432 +26% 32 +45% $1,801,774 +6% +433% +26%

26 +37% $1,379,904 +1% 27 +4% $1,613,915 +17% +170% +70%

25 +25% $1,690,380 +9% 24 -4% $1,869,750 +11% +243% +65%

6 +50% $2,640,000 +41% 7 +17% $1,831,429 -31% +600% -50%

322 +3% $2,217,887 4% 282 -12% $2,155,583 -3% +77% +20%

22

How to Price a Home For sale

one of the most difficult jobs as a real estate agent is to accurately price a property. if this were an easy task, then we would all know the precise value of each home and there would never be a question as to the accuracy of a list price. However, we all know this isn’t the case. what makes this job more difficult is the large percentage of agents who seduce sellers with an excessively high estimate in order to secure a listing. these are usually agents who are either new to the business or are attempting to lure the seller with an exaggerated list price, only to then reduce it over time. sometimes this approach works, especially in a rising market. However, in a stagnant or declining market, it can backfire. a property that’s priced too high will drift further away from selling and may require multiple reductions and a longer time on the market.

i recently evaluated a home on the 600 block in the Flats of beverly Hills. when i compared the house to recent sales of similar lots and homes, i found some interesting results. in the previous 6 months, there were 6 houses that traded. the longest any of them had been on the market was for 35 days and the shortest was only on for 7 days. even more enlightening was the fact that every one of these homes sold for more than the listing price while other homes remained on the market for several months.

the answer to the price dilemma is that it’s rarely a mistake to price a home too low, as the market will drive the price to where it should be. Doing so will also garner a quicker and cleaner transaction.

Please, try to resist being seduced by the agent who gives you the highest evaluation of your home, as you are the one that will pay for their mistake.

stephen shapiroCo-Founder, Westside Estate Agency

a message from Weacompare los angeles real estate brokerages

http://www.weahomes.com/LABJ.pdf

http://www.weahomes.com/LABJ.pdf

23

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

2007, 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 2015.

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 inFebation, 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 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.

suCCess Built on superior mArket knoWledge. And understAnding our Clients.

24

Beverly Hills office

Westside estate Agency210 north Canon drive Beverly Hills, CA 90210

tel: (310) [email protected]

malibu office

Westside estate Agency23410 Civic Center Way malibu, CA 90265


Contact us

miami office

Westside estate Agency 2100 ponce de leon Blvd 7th floorCoral gables, fl 33134


Date post:	26-Jul-2016
Category:	Documents
Upload:	westside-estate-agency
View:	223 times
Download:	4 times

WEA Micro Market Report - February 2016

Documents