1056 Tellem dining area

Neighborhood by Neighborhood: The Market Is Changing! 1/ 1/2021 – 3/31/2021

Share this with someone
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
As of March 31st, 2021, 69 single-family Palisades residences were listed in the Multiple Listing Service (M.L.S.). The current level of inventory is 17% higher than last year’s March 31st available inventory.

Table of Contents

AreaHomes In AreaSold YTDMedian Sold Price
Riviera6557$7,600,000
Rustic Canyon/
Will Rogers
3182$8,529,000
Huntington49311$7,770,000
Alphabets8819$4,050,000
Above Alphabets3653$10,050,000
South of Village66213$3,152,000
El Medio Bluffs7488$3,300,000
El Medio to Upper
Marquez/Bienveneda
142715$3,180,000
Lower Marquez/BABC3392$3,002,000
Highlands7425$2,550,000
Castellammare/Paseo Miramar3925$3,001,000
Sunset Mesa/Pacific View Estates5745$1,950,000

Single Family Homes

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.

AreaLowest Price Sold YTDHighest Price Sold YTD# On MarketIn Escrow
Riviera$4,950,000$14,790,000111
Rustic Canyon/
Will Rogers
$6,500,000$10,557,51630
Huntington$4,800,000$11,250,00045
Alphabets$1,470,000$6,700,00068
Above Alphabets$2,500,000$14,000,00061
South of Village$1,590,000$6,100,00086
El Medio Bluffs$1,980,000$4,850,00034
El Medio to Upper
Marquez/Bienveneda
$2,174,250$7,850,000910
Lower Marquez/BABC$2,200,000$3,805,00041
Highlands$1,986,000$4,137,50038
Castellammare/Paseo Miramar$1,957,000$17,100,00053
Sunset Mesa/Pacific View Estates$1,805,000$2,105,00030

Condos

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.

Land

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.

Leases

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.

Don't forget to share this post!

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
On Trend

Popular Stories

happy homeowners in kitchen smiling
Buying a Home
Tips For A Smooth Purchase Process for Home Buyers

Of course, there are occasional situations where a home has been purchased at a great price. However, as many disappointed buyers will attest, at least as of the beginning of August, we are still in a “seller’s market.” Many active buyers today falsely assume that this is a “buyer’s market”, and that they will be able to negotiate much lower than the listed price.

Read More »
1450 Bienveneda backyard
Selling a House
How to Find a Realtor to Sell Your Home—What to Do and What to Ask

When you’re buying or selling a house, you’ll likely reach out for a real estate agent. But how to choose? There are Realtors and just plain real estate agents, part-time and full-time agents, family friends who are in the business, maybe even neighbors down the street. How do you find the right real estate agent for you?

Read More »