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 Sales | ▼2 % lower |
| Median Sale Prices | ▲9 % higher |
| Price per Square Foot | ▼2% lower |
| Average Days On Market | ▼18 % shorter |
| Active Inventory | ▲2 % 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 | # Sold | Median Price | $/sqft | Avg DOM | Active as of 8/31 |
|---|---|---|---|---|---|
| 2020 | 128 | $3.356M | $1,156 | 41 | 99 |
| 2019 | 130 | $3.086M | $1,184 | 50 | 97 |
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.