By MICHAEL EDLEN Special to the Palisadian-Post As of Friday, June 1, there were 88 single-family Pacific Palisades residences listed in the Multiple Listing Service (M.L.S.). The current level of inventory is eight percent higher than last year’s June 1 available inventory. Median sale prices are up five percent from last year. The median list price has increased by 25 percent to $3,000,000. The lowest-priced home is a 2-bedroom, 1-bath on Bienveneda being offered at $1,289,000. The highest-priced property is on San Remo. This 9-bedroom, 14-bath house is listed at $27,500,000. The lowest sale price so far this year is on Las Lomas ($1,125,000). The highest sale has been $10 million on Porto Marina. There are 20 condominiums/townhouses on the market. They range from a 1-bedroom, 1-bath on Sunset offered at $549,000, to a 2-bedroom, 2.50-bath on Sunset for $1,879,900. There are currently 10 pieces of raw land available, ranging from $399,000 for a lot on Revello to $22,000,000 for a lot on Paseo Miramar. There are currently 32 leases in the Palisades ranging from $3,100 for a 2-bedroom, 2-bath condo unit on Sunset Blvd., and asking as high as $20,000 per month for a 5-bedroom, 6-bath house on Piedra Morada in the Highlands. Michael Edlen, a leading agent with Coldwell Banker, has been keeping statistics of Pacific Palisades housing prices for the last 21 years.
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