925Enchanted_ (56)

Palisades Monthly Update (1/1/21 – 1/31/21)

Share this with someone
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
So far this year 17 Palisades homes have sold compared with only 8 homes at the end of January 2020, and there are now 49 homes in escrow in the Palisades!

Table of Contents

Still a Good Time for Sellers

As of January 31st, there were 75 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is ▼8% lower than this time last year

The average sale price per square foot has decreased by 11% as compared with the same period in 2020 and is now at $1,117 per square foot. Median sale prices are currently $2,950,000.

YearSalesMedian Sale Price$ / SqFtAvg DOM# Active as of Jan 31

(January 1st – January 31st)

The lowest-priced available home is a 2-bedroom, 2-bath on Palmera at $1,925,000. The highest-priced property is an 8-bedroom, 14-bath on Corona De Mar, asking $34 million. The median asking price for Pacific Palisades is now at an all-time high of $5,250,000.

The lowest sale price so far this year was a 4-bedroom, 4-bath on Calle De Catalina, which sold for $1,985,770. The highest sale so far this year was a 7-bedroom, 6-bath on Rivas Canyon Road, which sold for $10,557,516.

Number of Sales112 % higher
Price per Square Foot11 % lower
Average Days On Market19 % longer
Active Inventory8 % lower
Statistics based upon M.L.S. records of Palisades single family residences only (Including Sunset Mesa)

Condos & Townhomes

There are 19 condominiums/townhouses on the market now. They range from a 1-bedroom, 1-bath in the Edgewater Towers on Sunset Blvd. offered at $629,900, to a newly-built 5-bedroom, 6-bath condo on Tramonto offered at $5,850,000. Thirteen condos are currently in escrow. There have been 5 condo sales so far this year, ranging from a 3-bedroom, 3-bath on Palisades Circle, which sold for $977,500 to a 3-bedroom, 4-bath unit in the new development on Tramonto, which sold for $5,200,000. The median condo sale price is currently $1,090,000, which is a 9% increase. 

There are currently five pieces of raw land available, ranging from nearly two acres on Calle Bellavista, being offered at $799,000 to $2,600,000 for a hillside lot just under 15,000 square feet on Revello. So far this year, no lots have sold.

There are currently 58 available leases in the Palisades. They range from a 1-bedroom, 1-bath unit on Sunset asking $3,500 per month, to a 5-bedroom, 6-bath home on Corona Del Mar asking $75,000 per month. There have been 10 leases so far this year (the same as at the start of 2020).

The highest lease so far this year was a 6-bedroom, 9-bath on Amalfi Drive, which leases for $55,000 per month. The lowest was $5,200 per month for a 2-bedroom, 3-bath on Palisades Circle, and the median was $7,400 per month.

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

The Best Hikes in West Los Angeles

While the beautiful Westside is known all over for many of the things we listed above, today we’re going to be covering just one of the many reasons that it’s the most sought-after area in the world—the best hiking trails in the entire West Coast.

Read More »