With the holidays quickly approach, it’s time to take a look at the fall real estate market update for the Pacific Palisades.

Here in the Palisades, there are currently:

• 138 homes actively for sale on the market
• 40 homes that are in escrow
• 61 homes that have been sold in the last 3 months.
• From those 61 homes sold, the average square feet are approximately 3,450 and the median price is $1,900,000.

Looking at the Riviera neighborhood in the Palisades, there are currently:

• 20 homes actively for sale on the market
• 3 homes that are in escrow
• 3 sold in the last 3 months.
• The average square feet of those homes sold is 5,053 and the median price is $5,205,600.

Now, keeping all of that in mind, do you think the median sales price for the Pacific Palisades went down since this time last year?

http://www.youtube.com/watch?v=ANMgconmDH0

The median sales price actually went up from $1,700,000 to $2,200,000.

Despite the regional trend towards lower sales prices, the Pacific Palisades have defied the odds and the median sales price has gone up.  What do you think of this trend? Live in the Palisades and have questions about the market? Please leave your comment below or contact me directly.