As if Pacific Palisades wasn’t already hot, the most recent LA market update from Sotheby’s International Realty shows an increase of 133% in sales over $3 mil compared to last year. Wow. Pacific Palisades also had the most total luxury sales in the LA area for the period.
Why so popular? Well being adjacent to the beach and home to some of the best schools in the area helps… but there has also been a lot more investor attention to the area recently. I suspect that Rick Caruso (The Grove Developer) has something to do with the rise in popularity & price with his plans to remake Palisades Village!
Are You Living in Pacific Palisades? Might be worth chatting with a realtor (I happen to know one if you need a recommendation.. wink wink) and asking her to give you a comparative market analysis to find out the current market value of your house while prices are this high!
Looking to buy in Pacific Palisades? If I were you I’d start the search now before Caruso has finished the remake of Palisades Village! Who knows what his build could do to the prices!
Here’s a 5 bedroom 8 bathroom 5,564 home in the Palisades asking $4,950,000. Long gone are “million dollar views” in this neighborhood
Or how about this spacious 3031 Sq Ft, 3 bedroom, 3 bathroom condo asking 1.77 MM