More Than 200 Palisades Homes Sold to Date in 2015

As of Aug. 31, there were 78 single-family Palisades residences listed in the Multiple Listing Service (MLS), which is 13 percent higher than the available inventory this time last year.

So far this year 206 Palisades homes have sold, and there are now 32 homes in escrow in the Palisades.

The average sale price per square foot has increased by 11 percent as compared with the same period in 2014, and is now at $984 per square foot. Median sale prices are currently $2,832,000, compared to $2,550,000 a year ago.

The lowest-priced available home is a 2-bedroom, 2-bath on Sunset Blvd. between Chautauqua Blvd. and Brooktree Road at $1,195,000.

The highest-priced property continues to be a 5-bedroom, 7-bath on an acre on San Remo in the Riviera that is asking $25 million.

The lowest sale price so far this year was a 2-bedroom, 1-bath on lower Bienveneda Ave., which sold for $1,005,000. The highest sale so far this year was a 4-bedroom, 8-bath on Corona del Mar in the Huntington, which sold for $22 million.

There are 18 condominiums/townhouses on the market. They range from a 2-bedroom, 2-bath on Pacific Coast Highway offered at $575,000, to a 3-bedroom, 3-bath condo on Sunset Blvd for $1,995,000.

Eight condos are currently in escrow.

There have been 39 condo sales so far this year, ranging from $520,000 for a 1-bedroom, 1-bath condo on Marquez Avenue in Marquez Knolls to $1,750,000 for a 3-bedroom, 3-bath unit on Haverford in the Village.

The median condo sales price is $981,000, which is up 15 percent from this time last year.

There are currently 13 pieces of raw land available, ranging from a 3,684 square-foot lot on Posetano Road, being offered at $225,000 to $8.5 million for approximately two acres at Sunset and Marquez.

There are three pending land sales and three sales so far this year.

There are currently 51 available leases in the Palisades. They range from a 2-bedroom, 2-bath on PCH asking $3,250 per month to a 7-bedroom, 9-bath home on Rivas Canyon Road asking $75,000 per month.

There have been 162 leases so far this year. The highest lease so far this year was a 6-bedroom, 9-bath on Umeo Drive in the Riviera for $65,000 per month, and the lowest was $1,400 per month for a 1-bedroom, 1-bath on PCH. The median was $6,600 per month.

Michael Edlen, an agent with Coldwell Banker, has been keeping statistics on Pacific Palisades housing prices for the last 29 years.