|Area||Homes In Area||Sold YTD||Median Sold Price|
|South of Village||662||13||$3,152,000|
|El Medio Bluffs||748||8||$3,300,000|
|El Medio to Upper |
|Sunset Mesa/Pacific View Estates||574||5||$1,950,000|
A total of 91 homes were sold in the Palisades in the first quarter of 2021, which is a 127% increase from 2020. Median sale prices ($3,620,000) were up 10% from 2020’s first quarter. The median list price is currently $5,695,000, which is a 27% increase over the same period last year. There are currently 50 escrows open in the Palisades, which is a 117% increase from the end of the first quarter last year.
The lowest-priced residence available is a 4-bedroom, 4-bath home on Paseo De Oro in the Highlands, which is being offered at $2,075,000. The highest-priced available property is a 7-bedroom, 13-bathroom on Altata in the Huntington, which is listed at $25,000,000.
The most affordable areas so far in 2021 are the Highlands and Sunset Mesa neighborhoods. The Upper Bienveneda/Marquez and Riviera areas currently have the largest number of homes for sale in the Palisades.
The lowest sale price for the first quarter of 2021 was a 2-bedroom, 2-bathroom on Sunset ($1,470,000). The highest sale ($17.1 million) so far this year was 7-bedroom, 12-bathroom home built in 2018 on Paseo Miramar.
|Area||Lowest Price Sold YTD||Highest Price Sold YTD||# On Market||In Escrow|
|South of Village||$1,590,000||$6,100,000||8||6|
|El Medio Bluffs||$1,980,000||$4,850,000||3||4|
|El Medio to Upper |
|Sunset Mesa/Pacific View Estates||$1,805,000||$2,105,000||3||0|
There are 24 condominiums/townhouses on the market, which is 41% more than what was available at the end of the first quarter in 2020. They range from a 1-bedroom, 1-bath on Sunset being offered at $599,000, to a new 5-bedroom, 6-bath on Tramonto for $5,850,000. Twenty condominiums were sold in the Palisades since the start of the year, ranging from a 2-bedroom, 2-bath on Sunset, which sold for $920,000, to a 3-bedroom, 4-bath on Tramonto, which sold for $5,300,000. The median sales price for condos at the end of the first quarter was $1,380,000, which is up 28% over 2020 first quarter median sales prices.
There are currently 4 pieces of raw land available, ranging from $848,000 for a 13,000 sq ft lot off of Oracle Pl to $2.6 million for under almost 15,000 sq ft lot on Revello. There is one lot in escrow and no sales so far this year.
There are currently 60 available leases in the Palisades (a 10% decrease over the start of 2020), starting at $1,995/month for a 1-bedroom, 1-bath on Sunset and asking as high as $50,000 per month for a 4-bedroom, 4-bath house on Revello. There were 45 Palisades leases done in the first quarter of 2021 (a 55% increase from last year’s first quarter), ranging from a 2-bedroom, 2-bathroom unit on Sunset, which leased for $3,300/month, to a 6-bedroom, 8-bath home on Amalfi in the Riviera, which leased for $70,000/month. The current median lease price is approximately $7,750/month.
Michael Edlen, an agent with Coldwell Banker, has been keeping statistics of Pacific Palisades housing prices for the last 35 years.