|Year||# Sold||Median Price||$/sqft||Avg DOM||Active as of 10/31|
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 Sales||▲14 % higher|
|Median Sale Prices||▲8 % higher|
|Price per Square Foot||▲2% higher|
|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)
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.