The Real Deal New York

How much resi real estate is threatened by California fires

Almost $3 billion in property values is under threat
By Erin Hudson | December 17, 2017 09:00AM

Smoke from the Thomas Fire in Ventura County Calif. billows into the sky Dec. 10 2017. (The California National Guard/Pixabay)

As neighborhoods are evacuated and winds feed the Southern California blazes, not only are lives threatened, but about $2.8 billion worth of residential property hangs in the balance.

Yesterday, high winds propelled the Thomas Fire, one of the state’s biggest in history, towards Montecito and Santa Barbara, where up to 3,000 people were ordered to evacuate from their homes. The expanded evacuation area — about 17 miles by 5 miles — includes mansions owned by Oprah Winfrey and Ellen DeGeneres among others; the thousands of homes that could be affected are worth more than $1 billion.

Though according to AP, about 700 homes have burned up in the Thomas Fire so far, a grand total of about 2,000 homes are in danger, according to Realtor.com’s Director of Economic Research Javier Vivas.

Here’s a look at the number of Southern California homes threatened by each fire, the average home value and the total value of residential property threatened by each blaze:

Thomas Fire (Ojai, Ventura, and Santa Barbara Co.)
Potentially Affected Residential Count: 2,007
Potentially Affected Residential Total Value: $1.6 billion
Potentially Affected Average Home Value: $824,049

Creek Fire (San Fernando Valley)
Potentially Affected Residential Count: 850
Potentially Affected Residential Total Value: $539 million
Potentially Affected Average Home Value: $634,114

Skirball Fire (Bel Air)
Potentially Affected Residential Count: 81
Potentially Affected Residential Total Value: $197 million
Potentially Affected Average Home Value: $2,435,101

Lilac Fire (San Diego County)
Potentially Affected Residential Count: 1,007
Potentially Affected Residential Total Value: $451 million
Potentially Affected Average Home Value: $447,937

Rye Fire (Santa Clarita)
No residential properties within the fire boundary.

Erin Hudson