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Pacific Palisades Home Sales 2020 vs. 2019 (Jan 1st—Aug 31st)

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The average price per square foot ($1,156) is down by ▼2% over this time last year, and the median sale price ($3,355,500) is up by ▲9% now. These statistics indicate that the local market has already fully recovered from the pandemic period impacts.

Table of Contents

2020 Keeps Moving Along

As of September 1st, there were 99 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is 2% higher than at the start of September 2019.  So far this year 128 Palisades homes have sold, which is only 2% lower than this time last year and there are now 51 homes in escrow in the Palisades, an 82% increase over last year! 

Number of Sales2 % lower
Median Sale Prices9 % higher
Price per Square Foot2% lower
Average Days On Market18 % shorter
Active Inventory2 % higher

Statistics based upon M.L.S. records of Pacific Palisades single-family residences only
(Including Sunset Mesa)

Single-Family Homes

The lowest-priced available home is a 4-bedroom, 4-bath on Calle de Catalina asking $2,095,000. The highest-priced property is a 7-bedroom, 9-bath on Corona Del Mar, asking $20,000,000.

The lowest sale price so far this year was a 3-bedroom, 2-bath on Sunset, which sold for $1,511,250. The highest sale so far this year was a 9-bedroom, 12-bathroom new home on Chautauqua, which sold for $24,000,000.

Condos & Townhomes

There are now 29 condominiums/townhouses on the market, the same as this time last year. They range from 1-bedroom, 1-bath on Sunset offered at $639,000, to an in-process 3-bedroom, 4-bath on Tramonto for $5,300,000. Fourteen condos are currently in escrow. There have been 41 condo sales so far this year, slightly down from this time last year. The lowest was a 1-bedroom, 1-bath on Sunset, which sold for $605,000 and the highest was a 3-bedroom, 3-bath townhome on Palisades Dr, which sold for $1,919,000. The median condo sales price is $1,125,000, which has decreased by 4% from this time last year.

Year# SoldMedian Price$/sqftAvg DOM
Active as of 8/31
2020128$3.356M$1,1564199
2019130$3.086M$1,1845097
(January 1st – August 31st)

Lots and Land

There are currently 12 pieces of raw land available, ranging from $799,000 for a almost two acres on Calle Bellavista to $11,950,000 for almost one acre on Sunset near Marquez. Four lots have sold this year. The highest was 1.5 acres on Marquette for $8,250,000.

Leases & Rentals

There are now 83 available leases in the Palisades, up 24% over last year. They range from a 2-bedroom, 1-bath condo on Michael Lane asking $2,950 per month, to a 6-bedroom, 18-bath home on San Onofre in the Riviera asking $350,000 per month. There have been 142 leases so far this year, down 16% from last year. The highest lease so far this year was a furnished 6-bedroom, 6-bath on Corona Del Mar for $90,000 per month, and the lowest was $3,300 per month for a 1-bedroom, 1-bathroom on Sunset. The median was up by 1% at $8,975 per month. 

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