207 Homes Sold Since Start of 2018

By MICHAEL EDLEN | Special to the Palisadian-Post

As of Nov. 30, there were 89 single-family Palisades residences listed in the Multiple Listing Service, which is 31 percent higher than this time last year. So far this year 207 Palisades homes have sold, which is a 16 percent decrease over last year at this time. There are now 23 homes in escrow in the Palisades—up 43 percent from November 2017.

The average sale price per square foot has increased by 6 percent as compared with the same period in 2017 and is now at $1,183 per square foot. Median sale prices are currently $3,361,000, compared to $3.19 million a year ago—an increase of 5 percent.

The lowest-priced available home is a two-bedroom, one-bath on Fiske in the Alphabets at $1,995,000. The highest-priced property is a three-bedroom house on 30 acres off Pacific Coast Highway, asking $25 million.

The lowest sale price so far this year was a four-bedroom, two-bath on Erskine, which sold for $1,555,000. The highest sale so far this year was a seven-bedroom, 13-bath on San Remo, which sold for $34 million.

There are 33 condominiums/townhouses on the market, six of which are not-yet completed condos on Tramonto. Four condos are currently in escrow. There have been 60 condo sales so far this year, ranging from $580,000 for a one-bedroom, one-bath condo on Sunset to $2.2 million for a three-bedroom, three-bath unit on Palisades Drive. The median condo sale price is currently $1,215,000, which is up 8 percent from this time last year.

There are currently six pieces of raw land available, ranging from a 3,700-square-foot lot on Castellammare, being offered at $500,000, to $15 million for over half an acre of ocean view land in The Huntington. There have been nine land sales so far this year.

There are currently 65 available leases in the Palisades. They range from a studio with one-bath on Glenhaven, asking $1,800 per month, to a six-bedroom, nine-bath home on Amalfi Drive, asking $70,000 per month.

There have been 261 leases so far this year. The highest lease so far this year was a six-bedroom, eight-bath on La Cumbre Drive for $57,000 per month and the lowest was $2,500 per month for a one-bedroom, one-bath guesthouse on Via De La Paz. The median lease price remains at $8,250 per month.

Michael Edlen, an agent with Coldwell Banker, has been keeping statistics on Pacific Palisades housing prices for the last 32 years.