Westside DIGS | Digital Edition Online

January 19, 2018

DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.

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10 DIGS.NET 1.19.2018 Andrew Rayner CFP®, CIMA® CERTIFIED FINANCIAL PLANNER ™ Financial Advisor 10960 Wilshire Blvd. Los Angeles, CA 90024 310-443-0522 andrew.rayner@morganstanley.com morganstanleyfa.com/andrew.rayner © 2017 Morgan Stanley Smith Barney LLC. Member SIPC. CRC588477 (12/12) CS 7338797 FAS010 03/13 Protecting your wealth. It all starts with one meeting. Life is filled with one meeting after another, but this one is important. It's about your future, and what you can do to prepare for it. My name is Andrew, and I'm a Morgan Stanley Financial Advisor with more than 10 years of experience. Meet with me, and we'll sort out your financial goals to create a wealth plan that helps you manage your assets. Call today to schedule an appointment, and let's get your future started. "Millions saw the apple fall, but Newton was the one who asked why." — Bernard Baruch NUMBER OF $1 MILLION HOMES HAS QUADRUPLED SINCE 2002, NOW 4.3% OF ALL HOMES P U B L I S H E R ' S M U S E All property data taken from CRMLS for select Westside areas for the time period January 1 through December 31 2017. Single Family Residences only. Information is deemed accurate but not guaranteed. According to a Trulia research report, $1 million may no longer get buyers into the luxury home market – it's more like $5 million as the new bar for luxury living. In fact, even $5 million homes are becoming less exclusive, as the number of these homes is five times higher than in 2002. Of all the listings, over 7,000 were listed in the top 100 U.S. metros in 2017 – 0.28% were listed at $5 million or more. That's certainly the case on the Westside. Brentwood had only (7) closed sales in 2017 under $1.5 million, and (73) closed sales over $5 million – that's 29.2% of all of the homes sold in Brentwood last year. The average closed sale price was $4,277,878 in Brentwood last year. Comparatively, Pacific Palisades had only (1) closed sale under $1.5 million last year, and (52) over $5 million, which represented 20% of the total market sales. The average closed price for Pacific Palisades was $3,989,789 last year. On the other hand, Santa Monica had (28) sales under $1.5 million, and (32) sales over $5 million, which represented 12.8% of total market sales in 2017. Interestingly, of the (758) single-family home sales combined in these areas last year, a total of (24) homes sold over $10 million and the share of $5 million plus homes sold was 20.7% of the total market. The highest closed sales price in Brentwood, Pacific Palisades and Santa Monica last year was $23,000,000. (South Bay had (54) total sales above $5 million in 2017, representing 3.59% of total market sales.) Warren J Dow | Publisher wdow@Southbaydigs.com | 310.373.0142 x24611 Check out what's trending in real estate on the Westside in our MARKET section starting on page 25. FIND YOUR PLACE with the Westside's ultimate OPEN HOUSE GUIDE on page 31. Get real-time updates at www.digsopenhouse.com and subscribe to our free DIGS THIS WEEK e-Newsletter to stay connected to the local real estate market. Have a noteworthy local market story to tell? Email us at editorial@ westsidedigs.com for an opportunity to be featured in our new MARKET editorial section, which starts on page 25 in this edition.

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