October 24, 2010
2010 has turned out to be a better year for Sellers of high-end homes in the Palisades Riviera, than was 2009. I believe the number of home sales in this neighborhood will be about = to 2009 (20).
YTD, there have been about 16 sales (the highest was over $26Mil), compared with 22 for 2009 (highest of which was about $17.5Mil). A property, north of Sunset in the Palisades Riviera closed escrow in August 2010 for $21,500,000 (off $8Mil from its original asking price in June of 2009).
2010 sales prices ranged from $2.4Mil (3 Beds/5 Baths, approx. 2,784 SF/ lot size approx. 14,000) to a celebrity purchase of a bit over $26Mil (about 14,000 SF home on a lot of about 1.5 acres).
The average sales price is about $4.7Mil. Average price per SF = $1000
Currently there are 20 homes for sale. The prices range from about $1,850,000 (3 BR/# Bath; approx 2,000 Sq. Ft.) to $25,750,000 (6 Beds/6.5 Baths, approx. 11,606 SF/ lot size approx. 48,350 SF; built in 2005).
The average SF is about 5,000. The average lot size is 17,000 SF.
*Quiet sales* can be accomplished without the high-profile identity or address being disclosed. Please call for information on *the Art of the Quiet Sale*.
Please feel free to contact me for a confidential discussion of your needs and goals for your property in the Palisades Riviera, or to find a property that suits your housing goals.
For a market snapshot in Pacific Palisades (or anywhere in LA's Westside), please visit www.WestsideRealEstateHomeValues.com