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Palisades Housing Market Update (1/1/20 – 11/30/20)

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As of November 30th, there were 101 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is ▲2% higher than this time last year.

Table of Contents

Year# SoldMedian Price$/sqftAvg DOMActive as of 11/31
2020222$3.332M$1,16742101
2019188$3.100M$1,1625399
(January 1st – November 30th)

Single-Family Homes

So far this year 222 Palisades homes have sold, which is an 18% increase over last year at this time. There are now 40 homes in escrow in the Palisades, up 48% from November 2019. 

The average sale price per square foot is the same as compared with the same period in 2019 and is now at $1,167 per square foot. Median sale prices are currently $3,332,500, compared to $3,100,000 a year ago; an increase of 7%.

The lowest-priced available home is a 2-bedroom, 1-bath on Radcliffe being offered at $1,795,000. The highest-priced property is an 8-bedroom, 14-bathroom house on Corona Del Mar asking $34 million.

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 was a 9-bedroom, 12-bath on Chautauqua, which sold for $24 million.

Number of Sales18 % higher
Median Sale Prices7 % higher
Price per Square Footunchanged
Average Days On Market21 % shorter
Active Inventory2 % higher

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

Condos & Townhomes

There are 27 condominiums/townhouses on the market with a median list price of $1,095,000. Thirteen condos are currently in escrow. There have been 58 condo sales so far this year (a decrease of 13%) ranging from $605,000 for a 1-bedroom, 1-bath condo on Sunset to $3,500,000 for a 2-bedroom, 3-bath top-level unit on Sunset. The median condo sale price is currently $1,150,000, which is down ▼2% from this time last year. 

Lots and Land

There are currently 8 pieces of raw land available, ranging from a 2-acre lot on Calle Bellavista, being offered at $799,000 to a 1-acre lot on Sunset being offered at $11,950,000. There have been 4 land sales so far this year.

Leases & Rentals

There are currently 53 available leases in the Palisades, which is a 21% dip from this time last year. They range from a 1-bedroom, 1-bath on Sunset asking $2,800 per month, to a 6-bedroom, 8-bath home on Amalfi Drive asking $70,000 per month. There have been 219 leases so far this year, down ▼7% from last year.

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 $3,300 per month for a 1-bedroom, 1-bathroom unit on Sunset, and the median lease price is currently $9,000 per month, which is up nearly 2% from this time last year.

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