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Palisades Housing Market Update (1/1/20 – 10/31/20)

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As of October 31st, there were 106 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is ▲2% higher than the available inventory this time last year.

Table of Contents

Year# SoldMedian Price$/sqftAvg DOMActive as of 10/31
2020198$3.297M$1,17242106
2019173$3.055M$1,15251104
(January 1st – October 31st)

Single-Family Homes

So far this year 198 Palisades homes have sold, which is 14% higher than last year at this time. There are now 35 homes in escrow in the Palisades, which is an astounding 40% increase over this time last year.

The average sale price per square foot has increased by 2% as compared with the same period in 2019 and is now at $1,172 per square foot. Median sale prices are currently $3,297,500, compared to $3,055,000 a year ago – an 8% increase. 

The lowest-priced available home is a 2-bedroom, 2-bath on Mount Holyoke at $1,650,000. The highest-priced property is an 8-bedroom, 14-bath home on Corona Del Mar asking $34,000,000.

The lowest sale price so far this year was a 3-bedroom, 2-bath on Sunset, which sold for $1,495,000. The highest sale so far this year is a 9-bedroom, 12-bath new construction sale on Chautauqua, which sold for $24,000,000.

Number of Sales14 % higher
Median Sale Prices8 % higher
Price per Square Foot2% higher
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)

Condos and Townhomes

There are 32 condominiums/townhouses on the market. They range from a 1-bedroom, 1-bath on Sunset (Edgewater Towers) offered at $639,000, to a 5-bedroom, 5.5-bath unit on Tramonto for nearly $5,000,000. Eight condos are currently in escrow. There have been 56 condo sales so far this year, ranging from $605,000 for a 1-bedroom, 1-bath condo on Sunset to $3,500,000 for a 2-bedroom, 3-bath unit on Sunset in the Rockwell Building. The median condo sale price is currently $1,150,000, which is a 2% increase over this time last year. 

Lots and Land

There are currently 5 pieces of raw land available, ranging from nearly 2 acres on Calle Bellevista, being offered at $799,000 to $12,000,000 for nearly 1 acre on Sunset. There are two lots pending and have been four sales so far this year.

Leases & Rentals

There are currently 62 available leases in the Palisades, down 20% from this time last year. They range from a 2-bedroom, 1-bath unit on Michael asking $2,750 per month, to a 6-bedroom, 18-bath home on San Onofre asking $350,000 per month. There have been 198 leases so far this year, which is a 7% decrease. The highest lease so far this year was a 6-bedroom, 6-bath on Corona Del Mar for $90,000 per month, and the lowest was $3,200 per month for a 1-bedroom, 1-bath unit on Sunset, and the median was $8,975 per month.

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