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|
|Rustic Canyon / Will Rogers||$6.35M||$3.50M||$9.25M|
|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|
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 Rogers||318||6||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|
|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