Submarket Snapshot: Homes in Pacific Palisades in Q1 2016

Single-family home valuations grew by 13 percent

May.May 06, 2016 05:00 PM

The sales volume for luxury homes in the Pacific Palisades remained flat in the first quarter, compared with the same period last year. There were 55 homes that sold in the area for more than $1 million, according to a report by the Agency.

Single-family home valuations grew by 13 percent to over $1,030 a square foot. The average sale price was $3.25 million.

Homes sold at an average of 2.3 percent over listing price.

As of April 2016, 83 luxury homes were on the market at an average price of $5.56 million, or $1,288 a square foot.

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