May Palisades Pulse

🔹 Palisades Rebuilding Momentum

The Palisades community continues to show incredible resilience following the January fires.

In April, 1Pali proudly hosted a live webinar with Rick Caruso (owner of Palisades Village) to provide critical rebuilding updates.If you missed it, you can watch the recording here.

We also brought the community together at our Rooted in Resilience event at Clover Park in Santa Monica on April 19th, attended by over 1,500 people. It was an incredible show of support, healing, and strength. Thank you to everyone who came out!

🔹 Progress on Palisades Rebuilding Efforts

The Palisades Branch Library has been fully cleared of debris.
The first home building permit was issued on March 5, 2025, just 57 days after the fire, a timeline twice as fast as the rebuilding after the Camp and Woolsey Fires.
26 additional building permits have been issued for homes in the Palisades, and several projects have already begun construction.
We are optimistic that several homes will be completed by the one-year anniversary of the fires.
Plan Check and Permit Fees have been suspended to support a faster recovery. You can track permitting progress here .

🔹 PaliHigh Reopens at New Location

On April 22, students from Palisades High School officially resumed in-person learning at their temporary campus — the renovated former Sears building in downtown Santa Monica.Students are already calling it "Pali South."

🔹 Community Openings

Prima Cantina at 15246 Sunset Boulevard has reopened, More businesses are preparing to reopen soon — a strong signal that our community’s comeback is well underway.

🔹 Follow Our Rebuild Journey

We’ve begun documenting the rebuilding process with 2–3 videos posted each week on Instagram, and the response has been incredible. Our Temescal debris removal video alone has nearly 1 million views and over 22,000 shares after just three weeks!

🔹 Palisades Real Estate Market Snapshot | May 2025

Here’s a closer look at current real estate activity, with a breakdown of land, home and lease activity.

Land

We’re seeing nearly 100 new lots hitting the market each month.

We’ve included a forecast below to help illustrate when we can expect land inventory levels to peak. I also attached the slides in case they don't show up below.

Active - 165 (plus 10 withdrawn)

In Escrow - 20

Sold - 30

🔹 Land Value Trends

Land values have dropped approximately 35–40% in most areas, with the Huntington area holding relatively steady at only a 10–15% decline.

As more comparable sales close, we expect these figures to change.

Some owners are hesitant to sell, mistakenly believing the market has already bottomed out. In reality, we are only about 4 miles into a 26-mile marathon.

Given the amount of inventory currently available, values are likely to continue declining over the next 8–10 months, although the extent remains uncertain.

I encourage sellers who need to sell to do so sooner rather than later. For those who don't, holding onto your lot could be a smart move — there's a good chance that within 3–4 years, as the Palisades is rebuilt, land values will return to pre-fire levels.

Below is an illustration showing the number of new land listings compared to the number of lots sold.

🔹 Pricing Trends

It’s no surprise that the number of price reductions has been steadily rising across the market.

🔹 Fire-Affected Homes and Leases

One of the most common questions I hear from homeowners whose properties weren’t significantly damaged is: "What could I sell or lease my home for right now?"

The honest answer is — no one really knows yet, since we have very little data.

Below is a chart comparing home sales and leases in fire-affected areas (excluding the Riviera, Santa Monica and Rustic Canyons) over a three-month period from February to April, year over year.

As you’ll see, even four months after the fires, there is still very limited closed sales or lease data to draw meaningful conclusions.

Leases (66 Total)

Active - 48

In Escrow - 1

Hold --

Closed (Feb-April 2025) - 20

Homes (76 Total)

Active - 56

In Escrow - 7

Hold 2

Closed (Feb-April 2025) - 11

Notes

Only 5 of the closed leases (out of 20) were in fire-affected areas. View all leases
Only 8 of the closed homes (out of 11) were in fire-affected areas. View all active and sold homes

🔹 Final Thoughts

We’ll continue to keep you updated with rebuilding milestones, new openings, and the evolving market trends as the Palisades rebuilds stronger than ever.

Thank you for supporting this amazing community.

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May Palisades Pulse

🔹 Palisades Rebuilding Momentum

🔹 Progress on Palisades Rebuilding Efforts

🔹 PaliHigh Reopens at New Location