Is Pacific Palisades, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Pacific Palisades has remained a Seller's Market.
Housing Prices in Pacific Palisades, CA
How much do homes in Pacific Palisades, CA cost?
Median Sold Price
$3,175,000
$1,225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Pacific Palisades was $3,175,000 in March 2024, down 24.4% from last year, and the median price per square foot was $1,225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $860K | $675K | -21.5% |
2 Bedrooms | $1.6M | $1.5M | -8.6% |
3 Bedrooms | $3.1M | $2.5M | -18.0% |
4 Bedrooms | $4.5M | $3.9M | -14.0% |
5+ Bedrooms | $6.1M | $5.5M | -8.7% |
Summary: Pacific Palisades housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.5%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 18%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes decreased by 8.7%.
Median Sold Price Compared To Nearby Neighborhoods
Brentwood | $2.5M | $2.2M | -9.3% |
Pacific Palisades | $4.2M | $3.1M | -24.4% |
Alphabet Streets | $5.2M | $3.2M | -37.4% |
Housing Supply in Pacific Palisades, CA
How many homes are available in Pacific Palisades, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
110 | 125 | +13.6% |
Summary: The Pacific Palisades real estate market had 125 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 25 | 28 | +12.0% |
4 Bedrooms | 24 | 25 | +4.2% |
5+ Bedrooms | 43 | 53 | +23.3% |
Summary: The Pacific Palisades housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 23.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 22 | +69.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Pacific Palisades in March 2024, up by 69.2% month-over-month. Of the 22 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% were sold over asking.
Days on Market for Pacific Palisades, CA
How long does it take to sell a home in Pacific Palisades, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 41 Days | +34.2% |
Summary: Homes in Pacific Palisades had an average of 41 days on market in Mar 2024, up by 34.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in Pacific Palisades; 68% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.