|Year||# Sold||Median Price||$/sqft||Avg DOM||Active as of 11/31|
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 Sales||▲18 % higher|
|Median Sale Prices||▲7 % higher|
|Price per Square Foot||unchanged|
|Average Days On Market||▼21 % shorter|
|Active Inventory||▲2 % 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.