Curb appeal 700 Ocampo

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

Share this with someone
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
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
(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.

Don't forget to share this post!

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
On Trend

Popular Stories

Real Estate News
Top 3 Homes On the Market Right Now

It’s officially the start of a new year, and with the way things went in 2020, it seems that just about everyone is hopeful that 2021 will be significantly better than these past 12 months. After all, it can only get better, right?

Read More »