{"id":79501,"date":"2025-03-24T05:30:18","date_gmt":"2025-03-24T12:30:18","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79501"},"modified":"2025-03-21T13:03:21","modified_gmt":"2025-03-21T20:03:21","slug":"home-sales-palisades-altadena-february-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/home-sales-palisades-altadena-february-2025\/","title":{"rendered":"Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">The month after the Eaton and Palisades wildfires, home sales and new listings fell in the neighborhoods that were directly impacted. The story is different in the greater Los Angeles metro, where the housing market picked up.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Home sales fell by double digits in the <\/span><a href=\"https:\/\/www.redfin.com\/neighborhood\/64066\/CA\/Los-Angeles\/Pacific-Palisades\"><span style=\"font-weight: 400;\">Pacific Palisades<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.redfin.com\/city\/21169\/CA\/Altadena\"><span style=\"font-weight: 400;\">Altadena<\/span><\/a><span style=\"font-weight: 400;\"> in the wake of January\u2019s devastating Los Angeles wildfires. In the Palisades (zip code <\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/90272\"><span style=\"font-weight: 400;\">90272<\/span><\/a><span style=\"font-weight: 400;\">), just 12 homes sold in February, down 56% from a\u00a0 year earlier. And in Altadena (<\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/91001\"><span style=\"font-weight: 400;\">91001<\/span><\/a><span style=\"font-weight: 400;\">), 32 homes sold, down 43% year over year.\u00a0<\/span><\/p>\n<p><b>Home listings fell in neighborhoods hit by the wildfires, too. <\/b><span style=\"font-weight: 400;\">Listings slowed a bit in February\u2013but not nearly as much as sales. There were 23 new listings in the Palisades, down 12% year over year, and 46 new listings in Altadena, down 6%.\u00a0<\/span><\/p>\n<p><b>Sale prices dropped in Altadena and rose in the Palisades. <\/b><span style=\"font-weight: 400;\">The typical Altadena home sold for $1.2 million in February, down 8% year over year. But in the Palisades, one of the most expensive neighborhoods in <\/span><a href=\"https:\/\/www.redfin.com\/city\/11203\/CA\/Los-Angeles\"><span style=\"font-weight: 400;\">Los Angeles<\/span><\/a><span style=\"font-weight: 400;\">, homes grew even more expensive; the typical home there sold for $2.9 million, up 32% year over year.\u00a0\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"7\"><b>Summary of housing-market activity: Pacific Palisades and Altadena, Feb. 2025<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Zip code level housing-market data<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Median sale price<\/b><\/td>\n<td><b>Median sale price, YoY<\/b><\/td>\n<td><b>Home sales, YoY<\/b><\/td>\n<td><b>New listings, YoY<\/b><\/td>\n<td><b>Days on market<\/b><\/td>\n<td><b>Days on market, YoY<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Pacific Palisades: 90272<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$2.9 million<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-56%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-12%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-5<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Altadena: 91001<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$1.2 million<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-43%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-21<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Los Angeles metro area<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$920,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">53<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Please note that we\u2019re reporting on small, zip-code level sample sizes to provide a snapshot of what happened in the immediate aftermath of the Palisades and Eaton fires in the neighborhoods impacted most. We\u2019ll keep an eye on what happens in the coming months. Also note that this data includes homes only; it doesn\u2019t include parcels of land with no structures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It stands to reason that home sales and listings dropped, as the Palisades and Eaton wildfires <\/span><a href=\"https:\/\/www.redfin.com\/news\/los-angeles-wildfires-housing-statistics\/\"><span style=\"font-weight: 400;\">destroyed thousands of homes<\/span><\/a><span style=\"font-weight: 400;\">. Many homes no longer exist. Many of the people who were displaced by the fires <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-good-news-for-homebuyers-2025\/\"><span style=\"font-weight: 400;\">moved into rentals<\/span><\/a><span style=\"font-weight: 400;\"> rather than buying a new home, and many who <\/span><i><span style=\"font-weight: 400;\">didn\u2019t <\/span><\/i><span style=\"font-weight: 400;\">lose their homes pressed pause on their house hunt as the wildfires wreaked havoc across the region.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin agents say would-be homebuyers and sellers in the Palisades and Altadena adopted a wait-and-see approach. Many homeowners kept their homes off the market because they were worried values would go down, and some house hunters canceled contracts because they were nervous about insurance costs and possible future fires. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now that a few months have passed since the wildfires, Redfin agents report that some house hunters who were looking in the Palisades or Altadena before the wildfires are looking in those neighborhoods once again\u2013but away from particularly vulnerable streets. We will provide updated housing-market data for these zip codes as it becomes available.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI\u2019m now working with a mix of people. Some of them were looking before the fires, and some started looking after,\u201d said Sam Najarian, a Redfin Premier agent who works primarily in Altadena and Pasadena. \u201cMost people want to stay away from the hillsides post-wildfires; they\u2019re looking in flat residential communities. Of course they know living in the hillsides puts them at higher risk of wildfires, but insurance companies are also making it very tough to buy in the hills; many of them are asking for inspections, which I\u2019ve never seen before, and giving astronomical quotes.\u201d<\/span><\/p>\n<h3>In Greater L.A., the Market Is Gaining Momentum After a January Lull<\/h3>\n<p><span style=\"font-weight: 400;\">While homebuyers and sellers backed off from the Palisades and Altadena the month after the wildfires, activity picked up in the <\/span><a href=\"https:\/\/www.redfin.com\/city\/11203\/CA\/Los-Angeles\"><span style=\"font-weight: 400;\">Los Angeles<\/span><\/a><span style=\"font-weight: 400;\"> metro as a whole.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Home sales rose 6.2% year over year in Los Angeles in February, a bigger increase than any other major metro area, and new listings rose 13.6%. The area\u2019s median sale price increased 5.1% to $920,000, just shy of the all-time high.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Los Angeles market is accelerating mostly due to pent-up demand; many prospective buyers and sellers backed off in January and returned to the market in February. Los Angeles Redfin agents say there are pockets of the metro area, especially places considered relatively safe from fires, where every listing is selling quickly with multiple offers. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">New listings rose significantly in February in many neighborhoods close to the Palisades and Eaton fires but not directly impacted by them. That\u2019s partly because many people who were displaced by the fires needed a new place to live and many homeowners in adjacent areas listed their home to meet demand.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, in Palisades-adjacent zip code <\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/90049\"><span style=\"font-weight: 400;\">90049<\/span><\/a><span style=\"font-weight: 400;\"> (<\/span><a href=\"https:\/\/www.redfin.com\/neighborhood\/258\/CA\/Los-Angeles\/Brentwood\"><span style=\"font-weight: 400;\">Brentwood<\/span><\/a><span style=\"font-weight: 400;\">), home sales rose 23% year over year in February and new listings shot up 81%. In <\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/91011\"><span style=\"font-weight: 400;\">91011<\/span><\/a><span style=\"font-weight: 400;\"> (<\/span><a href=\"https:\/\/www.redfin.com\/city\/9895\/CA\/La-Caada-Flintridge\"><span style=\"font-weight: 400;\">La Canada Flintridge<\/span><\/a><span style=\"font-weight: 400;\">), located next to Altadena, new listings increased 34%, and in <\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/91104\"><span style=\"font-weight: 400;\">91104<\/span><\/a><span style=\"font-weight: 400;\"> (<\/span><a href=\"https:\/\/www.redfin.com\/city\/14498\/CA\/Pasadena\"><span style=\"font-weight: 400;\">Pasadena<\/span><\/a><span style=\"font-weight: 400;\">), also next to Altadena, new listings rose 63%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sales and listings also soared in parts of Los Angeles farther from the fires. Take <\/span><a href=\"https:\/\/www.redfin.com\/zipcode\/90266\"><span style=\"font-weight: 400;\">90266<\/span><\/a><span style=\"font-weight: 400;\"> (<\/span><a href=\"https:\/\/www.redfin.com\/city\/11576\/CA\/Manhattan-Beach\"><span style=\"font-weight: 400;\">Manhattan Beach<\/span><\/a><span style=\"font-weight: 400;\">), located in the southern part of Los Angeles County: In that area, home sales rose 58% year over year in February, new listings rose 72%, and prices increased 19%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOne thing I\u2019m noticing: people I met with six months or a year ago are suddenly calling, saying they want to list their homes,\u201d said Thomas Royds, a Los Angeles Redfin Premier agent who focuses on places in southern Los Angeles. \u201cMany of them want to capitalize on the demand and high prices from people who were displaced by the fires, and are now moving from a short-term rental into a more permanent home.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The month after the Eaton and Palisades wildfires, home sales and new listings fell in the neighborhoods that were directly impacted. The story is different in the greater Los Angeles metro, where the housing market picked up.\u00a0 Home sales fell by double digits in the Pacific Palisades and Altadena in the wake of January\u2019s devastating [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":79502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[630,702],"dashboard":[],"coauthors":[124],"class_list":["post-79501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-climate-change","tag-los-angeles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires<\/title>\n<meta name=\"description\" content=\"The month after the Eaton and Palisades wildfires, home sales and new listings fell in the neighborhoods that were directly impacted. 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