Price Reductions
We’re seeing a growing trend in price adjustments, with a nearly 50% week-over-week increase in price drops:
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3 weeks ago: 5
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2 weeks ago: 8
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Last week: 13
Well-priced lots — often listed strategically below market to spark bidding wars — are the ones moving quickly.
For example: 654 Jacon was listed at $999K ($122/ft) and sold for $1.65M ($202/ft).
Inventory Outlook
At the current pace, we expect 110 new burned lots to come on the market every 30 days. Over the next 8–12 months, we will likely see 1,000–1,300 total burned-down properties listed.
If you're considering selling, acting sooner may help preserve more equity, as the expected increase in inventory is likely to place downward pressure on pricing.
🔹 Palisades Real Estate (Non-Burned Homes)
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57 single-family homes listed: 46 active, 7 in escrow, 4 sold (most in non-fire areas)
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15 condos listed (primarily in the Highlands): 13 active, 1 in escrow, 1 sold No fire-damaged condos (airspace) have been listed
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39 residential leases listed: 30 active, 9 leased (mostly in non-fire zones)
🔹 Comparative Snapshot: Altadena vs. Palisades
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131 burned lots listed: 39 active, 34 in escrow, 56 sold
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69% are in escrow or sold
Key difference: affordability
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Altadena average land sale price: $664,120
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Palisades average land sale price: $2,815,875
That’s a 325% higher price point in the Palisades, making Altadena more affordable to a broader range of buyers.
