In the last 12 months, 214 Palisades homes have sold, and there are now 20 homes in escrow in the Palisades
The average sale price per square foot has dipped by 1% as compared with the same period in 2018 and is now at $1,144 per square foot. However, median sale prices are currently $3,122,000, compared to $3,350,000 in the previous 12-month period.
The lowest-priced available home is a 4-bedroom, 3-bath on Avenida De La Herradura in the Highlands at $2,095,000. The highest-priced property continues to be property on PCH, asking $25,000,000. The median asking price for Pacific Palisades is now $4,995,000.
The lowest sale price so far this year was a 4-bedroom, 3-bath on Temecula, which sold for $2,195,000. The highest sale so far this year was a 4-bedroom, 6-bath on Monaco, which sold for $9,800,000.
There are 16 condominiums/townhouses on the market now. They range from 1-bedroom, 1-bath in the Edgewater Towers on Sunset Blvd. offered at $619,000, to a 5-bedroom, 6-bath pre-sale condo, offered at $5,550,000.
Fifteen condos are currently in escrow. There have been 78 condo sales in the past 12 months ranging from a 1-bedroom, 1-bath on Tramonto, which sold for $615,000 to a 3-bedroom, 3-bath unit on Haverford, which sold for $2,350,000. The median condo sale price is currently $1,125,000.
There are currently 6 pieces of raw land available, ranging from 5,000 square foot lot on Bollinger, being offered at $2,190,000 to $3,150,000 for a 2+ acre lot on El Bosque Court in the Highlands. So far this year, no lots have sold.
|Number of Sales||▼ 4% Lower|
|Median Sales Prices||▼ 7% Lower|
|$ / SqFt||▼ 1% Lower|
|Average Days on Market||Unchanged|
|Active Inventory||▲ 2% Higher|
Statistical comparisons for 2020 vs 2019 (last 12 months)
There are currently 65 available leases in the Palisades (same as the number of available leases at the start of 2019)
They range from a 1-bedroom, 1-bath home on Sunset asking $3,400 per month, to a 7-bedroom, 10-bath home on Amalfi Drive asking $80,000 per month. There have been 12 leases so far this year. The highest lease so far this year was a 5-bedroom, 7-bath on Monte Grigio, which lease for $35,000 per month. The lowest was $4,100 per month for a 2-bedroom, 2-bath on Sunset, and the median was $10,750 per month, up 19% from this time last year.
|Year||# Sold||Median Sales Price||$/SqFt||Avg DOM||# Active as of Jan 31st|
This information only includes single-family residences only, and has been collected from sources deemed reliable, but not guaranteed. The “median” is the value of the middle home when the homes are arranged in an increasing order of prices.