With the tragedy of the Palisades fire now three months behind us, many residents are seeking guidance with respect to whether it makes sense to return, rebuild, or sell their properties. With little market data available to guide property owners in the days shortly after the fire, many residents were left guessing as to the value of their properties. The past three months, however, have provided some guidance on what value property owners can expect in the current market. In this article, we provide our summary and analysis of that data.
Existing Home Market Slows As Lot Sales Surge
As one might have expected, sales of existing single family homes, townhomes, and condos have slowed considerable since the recent fires. During the period between January 7, 2024 and April 16, 2024, a total of 142 existing homes were listed for sale. During that same period in 2025, only 75, or close to half as many existing homes were listed for sale. Sold properties fared no better, with 65 homes being sold during that period in 2024 and 12 sold in 2025. The below graphs visually depict the market activity post-fire in comparison to the same period of time in 2024.
Not surprisingly, market activity for land/lots has experienced the opposite effect, with the number of lots available for sale and actually sold increasing significantly in 2025. In 2024, only 3 lots were listed for sale during the relevant time period, and only 1 lot was actually sold. In 2025, those numbers increased to 209 lots listed for sale and 24 lots sold.
For those interested in the raw data, the chart below reflects the relevant market data in numerical format.
Sold Properties Reveal Decline In Value
The data available with respect to the sale of existing single family homes reveals that those property values appear to have declined as a result of the fires. In 2024, the average price per square foot of an existing single family home that sold during the relevant period of time was $1,385.23. In 2025, that number decreased by approximately 18.47% to $1,129.32. The numbers of course vary depending on the particular neighborhood, with those more significantly impacted by the fire losing more value.
There is minimal market data available with respect to townhomes and condos, so the verdict is out with respect to those property values. Only one townhome has sold in the Palisades since the fire. That being said, that property sold for approximately $911.78 per square foot, while the average price per square foot for the same period in 2024 was $860.21, so townhome/condo owners may remain hopeful that their properties have retained value.
The reverse problem exists with respect to vacant lots/land. In the entirety of 2024, only one vacant lot was sold in the Pacific Palisades, and it was a large lot that sold at just $5.27 per square foot. Since the Palisades fire, lots have been selling at an average price of $331.14 per square foot. The average sale price of a lot in the Pacific Palisades in 2025 is currently $2,777,916.
What The Future Holds For The Palisades Market
It is likely that properties that have sold in the immediate aftermath of the fire were sold by highly motivated sellers who potentially lacked insurance to cover their expenses, or sellers who simply wanted to dump their properties and move on with their lives. This is reflective of the decline in value of properties that have sold.
However, there is little doubt that, with time, the Pacific Palisades will regain its highly desired status. Its proximity to the ocean, majestic views, large lots, and convenience to the rest of Los Angeles are characteristics that will never change. As its residents return and the rebuilding process progresses, its character will also return, and memories of the tragedy of the fire will fade. The process will likely take years before it is completed, and it will indeed be a long road for its homeowners. Those who are able to secure a property now will likely reap the benefit in the long run, while patient sellers will be rewarded for that patience.
Please call or email us at 213-973-9439 or info@esquirereb.com to further discuss how Esquire Real Estate Brokerage can help you in the Southern California real estate market.
