Palisades Pricing Trends
A total of 251 homes were sold in the Palisades in 2020, which is ▲19% higher than last year. Median sale prices were up by ▲6% over 2019. The median list price is at $5,950,000, which is up by ▲7% from the same period last year. There are currently 37 escrows open in the Palisades, which is an increase of ▲131% from last year at this time.
| Area | Median Price Sold | Lowest Price Sold | Highest Price Sold |
|---|---|---|---|
| Riviera | $7.01M | $4.05M | $14M |
| Rustic Canyon / Will Rogers | $6.35M | $3.50M | $9.25M |
| Huntington | $6.63M | $2.51M | $24M |
| Alphabets | $3.51M | $2.18M | $7.2M |
| Above Alphabets | $3.65M | $2.90M | $9.65M |
| South of Village | $3.08M | $1.56M | $8.23M |
| El Medio Bluffs | $3.12M | $1.55M | $8.25M |
| Upper Marquez / Bienveneda | $2.92M | $1.73M | $12.3M |
| Lower Marquez / BABC | $2.20M | $1.50M | $4.2M |
| Highlands | $2.29M | $1.45M | $5.1M |
| Castellammare / Paseo Miramar | $3.22M | $1.93M | $8.19M |
The lowest-priced residence available is a 2-bedroom, 2-bath home on Sunset, which is listed at $1,495,000. The highest-priced available property is a 8-bedroom, 14-bathroom on Corona Del Mar listed at $34,000,000.
The most affordable areas in 2020 were Lower Marquez / Bel Air Bay and the Highlands. The Riviera and Huntington Palisades continue to have the highest median average sales prices. The Riviera and Upper El Medio / Bienveneda areas currently have the largest number of homes for sale in the Palisades.
The lowest sale price for 2020 was on Avenida de Santa Ynez ($1,450,000). The highest home sale in 2020 was a newly-built home on Chautauqua, which sold for $24 million.
| Area | # Homes | # Sold | # On Market | # In Escrow |
|---|---|---|---|---|
| Riviera | 655 | 20 | 10 | 2 |
| Rustic Canyon / Will Rogers | 318 | 6 | 3 | 1 |
| Huntington | 493 | 11 | 9 | 5 |
| Alphabets | 881 | 28 | 6 | 4 |
| Above Alphabets | 365 | 8 | 3 | 1 |
| South of Village | 662 | 26 | 9 | 4 |
| El Medio Bluffs | 748 | 28 | 3 | 3 |
| Upper Marquez / Bienveneda | 1427 | 50 | 13 | 10 |
| Lower Marquez / BABC | 339 | 16 | 4 | 0 |
| Highlands | 742 | 37 | 6 | 6 |
| Castellammare / Paseo Miramar | 392 | 13 | 6 | 0 |
Condos & Townhomes
There are 24 condominiums / townhouses on the market, which is up 9% over last year’s available inventory. They range from a 1-bedroom, 1-bath on Sunset being offered at $639,000, to a 5-bedroom, 6-bath on Tramonto Drive being offered at $4,955,000. Sixty-eight condominiums were sold in the Palisades in 2020 (down 10%), ranging from a 1-bedroom, 1-bath on Sunset, which sold for $605,000, to a 2-bedroom, 3-bath on Sunset, which sold for $3,500,000. The median sales price for condos at the end of 2020 was $1,146,000, which is a ▲2% increase from the end of 2019.
There are currently 6 pieces of raw land available, ranging from $799,000 for 1.8 acres on Calle Bellavista to $11,900,000 for nearly one acre on Sunset. Five land sales took place in 2020, ranging from a 42,000 sq ft lot on Posetano, which sold for $545,000 to a 1.5 acre hillside lot on Marquette which sold for $8,250,000.
There are currently 58 leases in the Palisades, starting at $3,550/month for a 2-bedroom, 2-bathroom condo on Sunset, and asking as high as $75,000 per month for a 5-bedroom, 6-bath house on Corona Del Mar. There were 223 Palisades leases (▼12% fewer than last year) done in 2020, ranging from a 1-bedroom, 1-bathroom condo on Sunset, which leased for $2,800/month, to a 6-bedroom, 6-bath home on Corona Del Mar, which leased for $90,000/month.
Based on information from the Association of REALTORS/Multiple Listing Service from (date to date) and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. CA DRE#00902158
