The folks at Sotheby’s International Realty just released a three-month analysis of high-end homes. Pacific Palisades, it says, saw a 94 percent increase in single-family home sales from October 2014 to October 2015.
Frank Symons, Sotheby’s western region executive vice president, says sales in the area have been so brisk that they have actually pushed down the average selling price to only (cough) $3 million to $5 million. We’ll take two!
“The revitalization of the Pacific Palisades area is clearly under way…,” he said. “Since June 2015, the Pacific Palisades market has not showed any signs of slowing down.”
The other top luxury neighborhoods in terms of sales volume in Los Angeles County included Westwood (sales were up 50 percent), Cheviot Hills (also 50 percent), Beverly Hills Post Office (the city of Los Angeles community north of Beverly Hills), and — come again? — Venice (46 percent), Sotheby’s says.