As of March 31st, 2021, 69 single-family Palisades residences were listed in the Multiple Listing Service (M.L.S.). The current level of inventory is 17% higher than last year’s March 31st available inventory.
So far this year, Palisades homes are experiencing an increase in median prices and there have a dramatic increase in number of homes being sold year-over-year compared to last year.
Proposition 19 provides expansion and qualifications regarding limitations on property tax increases for people over 55, severely disabled, transfers of certain inherited properties, or victims of wildfires or other natural disasters.
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!
The Huntington Palisades has seen a dramatic recovery in home values since the 2008-2011 market correction. Fueled by a steady increase in demand, prices have increased by approximately 100% in 10 years.
As of December 31st, 2020, 75 single-family Palisades residences were listed in the Multiple Listing Service (M.L.S.). The current level of inventory is 14% higher than last year’s December 31st available inventory (66).
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?
It’d be quite an understatement to say that this year has been an interesting one. From the get-go, 2020 has been a roller coaster of ups and downs filled with uncertainty because of the ongoing pandemic.
