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Neighborhood by Neighborhood: 2020 in Review (January 1, 2020 – December 31, 2020)

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As of December 31st, 2020, 75 single-family Palisades residences were listed in the Multiple Listing Service (M.L.S.). The current level of inventory is 14% higher than last year’s December 31st available inventory (66).

Table of Contents

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.

AreaMedian Price SoldLowest Price SoldHighest Price Sold
Rustic Canyon / Will Rogers$6.35M$3.50M$9.25M
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
Castellammare / Paseo Miramar$3.22M$1.93M$8.19M
This information only includes single-family residences and has been collected from sources deemed reliable, but not guaranteed. The “median” is the value of the middle home when the homes are arranged in an increasing order of prices.

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
Rustic Canyon / Will Rogers318631
Above Alphabets365831
South of Village6622694
El Medio Bluffs7482833
Upper Marquez / Bienveneda1427501310
Lower Marquez / BABC3391640
Castellammare / Paseo Miramar3921360

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

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