{"id":828915,"date":"2025-03-24T08:33:36","date_gmt":"2025-03-24T12:33:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-sales-dropped-significantly-in-altadena-and-the-pacific-palisades-in-aftermath-of-los-angeles-wildfires\/"},"modified":"2025-03-24T08:33:36","modified_gmt":"2025-03-24T12:33:36","slug":"redfin-reports-home-sales-dropped-significantly-in-altadena-and-the-pacific-palisades-in-aftermath-of-los-angeles-wildfires","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-sales-dropped-significantly-in-altadena-and-the-pacific-palisades-in-aftermath-of-los-angeles-wildfires\/","title":{"rendered":"Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires"},"content":{"rendered":"

<\/p>\n

Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades <\/b>in Aftermath of Los Angeles Wildfires<\/b><\/p>\n

The story is different in the greater Los Angeles metro, where the housing market picked up<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\n(NASDAQ: RDFN) \u2014 Home sales fell by double digits in the Pacific Palisades and Altadena in the wake of January\u2019s devastating Los Angeles wildfires, according to a new report<\/a> from Redfin (redfin.com<\/a>), the technology-powered real estate brokerage.\n<\/p>\n

\nIn the Palisades<\/a> (90272<\/a>), just 12 homes sold in February, down 56% from a year earlier. And in Altadena<\/a> (91001<\/a>), 32 homes sold, down 43% year over year.\n<\/p>\n

Home listings fell in neighborhoods hit by the wildfires, too. <\/b>Listings slowed a bit in February\u2014but 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%.\n<\/p>\n

Sale prices dropped in Altadena and rose in the Palisades. <\/b>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 Los Angeles<\/a>, homes grew even more expensive; the typical home there sold for $2.9 million, up 32% year over year.\n<\/p>\n\n\n\n\n\n\n
\n

Summary of housing-market activity: Pacific Palisades and Altadena, Feb. 2025<\/b><\/p>\n

Zip code level housing-market data<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Median sale price<\/b><\/p>\n<\/td>\n

\n

Median sale price, YoY<\/b><\/p>\n<\/td>\n

\n

Home sales, YoY<\/b><\/p>\n<\/td>\n

\n

New listings, YoY<\/b><\/p>\n<\/td>\n

\n

Days on market<\/b><\/p>\n<\/td>\n

\n

Days on market, YoY<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Pacific Palisades: 90272<\/b><\/p>\n<\/td>\n

\n

\n$2.9 million\n<\/p>\n<\/td>\n

\n

\n32%\n<\/p>\n<\/td>\n

\n

\n-56%\n<\/p>\n<\/td>\n

\n

\n-12%\n<\/p>\n<\/td>\n

\n

\n49\n<\/p>\n<\/td>\n

\n

\n-5\n<\/p>\n<\/td>\n<\/tr>\n

\n

Altadena: 91001<\/b><\/p>\n<\/td>\n

\n

\n$1.2 million\n<\/p>\n<\/td>\n

\n

\n-8%\n<\/p>\n<\/td>\n

\n

\n-43%\n<\/p>\n<\/td>\n

\n

\n-6%\n<\/p>\n<\/td>\n

\n

\n28\n<\/p>\n<\/td>\n

\n

\n-21\n<\/p>\n<\/td>\n<\/tr>\n

\n

Los Angeles metro area<\/b><\/p>\n<\/td>\n

\n

\n$920,000\n<\/p>\n<\/td>\n

\n

\n5.1%\n<\/p>\n<\/td>\n

\n

\n6.2%\n<\/p>\n<\/td>\n

\n

\n13.6%\n<\/p>\n<\/td>\n

\n

\n53\n<\/p>\n<\/td>\n

\n

\n10\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nIt stands to reason that home sales and listings dropped, as the Palisades and Eaton wildfires destroyed thousands of homes<\/a>. Many homes no longer exist. Many of the people who were displaced by the fires moved into rentals<\/a> rather than buying a new home, and many who didn\u2019t <\/i>lose their homes pressed pause on their house hunt as the wildfires wreaked havoc across the region.\n<\/p>\n

\nRedfin 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.\n<\/p>\n

\nNow 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\u2014but away from particularly vulnerable streets. Redfin will provide updated housing-market data for these zip codes as it becomes available.\n<\/p>\n

\n\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>, a Redfin Premier<\/a> 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\n<\/p>\n

In Greater L.A., the Market Is Gaining Momentum After a January Lull<\/b><\/p>\n

\nWhile homebuyers and sellers backed off from the Palisades and Altadena the month after the wildfires, activity picked up in the Los Angeles<\/a> metro as a whole.\n<\/p>\n

\nHome 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.\n<\/p>\n

\nThe 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 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.\n<\/p>\n

\nNew 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.\n<\/p>\n

\nFor instance, in Palisades-adjacent zip code 90049<\/a> (Brentwood<\/a>), home sales rose 23% year over year in February and new listings shot up 81%. In 91011<\/a> (La Canada Flintridge<\/a>), located next to Altadena, new listings increased 34%, and in 91104<\/a> (Pasadena<\/a>), also next to Altadena, new listings rose 63%.\n<\/p>\n

\nSales and listings also soared in parts of Los Angeles farther from the fires. Take 90266<\/a> (Manhattan Beach<\/a>), 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%.\n<\/p>\n

\n\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>, a Los Angeles Redfin Premier<\/a> 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\n<\/p>\n

Please note that Redfin is 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. Redfin will 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.<\/i><\/p>\n

\nTo view the full report, please visit: https:\/\/www.redfin.com\/news\/home-sales-palisades-altadena-february-2025\/<\/a><\/p>\n

About Redfin<\/b><\/p>\n

\nRedfin (www.redfin.com<\/a>) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country’s #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we’ve saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.\n<\/p>\n

\nRedfin\u2019s subsidiaries and affiliated brands include: Bay Equity Home Loans\u00ae, Rent.\u2122, Apartment Guide\u00ae, Title Forward\u00ae and WalkScore\u00ae.\n<\/p>\n

\nFor more information or to contact a local Redfin real estate agent, visit www.redfin.com<\/a>. To learn about housing market trends and download data, visit the Redfin Data Center<\/a>. To be added to Redfin’s press release distribution list, email press@redfin.com<\/a>. To view Redfin’s press center, click here<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250324531263\/en\/<\/a><\/span><\/p>\n

\nContact Redfin
\n
Redfin Journalist Services:
\n
Isabelle Novak
\n
press@redfin.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Washington<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Technology Residential Building & Real Estate Finance Construction & Property Internet<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires The story is different in the greater Los Angeles metro, where the housing market picked up SEATTLE–(BUSINESS WIRE)– (NASDAQ: RDFN) \u2014 Home sales fell by double digits in the Pacific Palisades and Altadena in the wake of January\u2019s devastating Los Angeles wildfires, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. In the Palisades (90272), just 12 homes sold in February, down 56% from a year earlier. And in Altadena (91001), 32 homes sold, down 43% year over year. Home listings fell in neighborhoods hit by the wildfires, too. Listings slowed a bit in February\u2014but not nearly as … <\/p>\n

Continue reading “Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-828915","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRedfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-sales-dropped-significantly-in-altadena-and-the-pacific-palisades-in-aftermath-of-los-angeles-wildfires\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Redfin Reports Home Sales Dropped Significantly in Altadena and the Pacific Palisades in Aftermath of Los Angeles Wildfires The story is different in the greater Los Angeles metro, where the housing market picked up SEATTLE–(BUSINESS WIRE)– (NASDAQ: RDFN) \u2014 Home sales fell by double digits in the Pacific Palisades and Altadena in the wake of January\u2019s devastating Los Angeles wildfires, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. 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In the Palisades (90272), just 12 homes sold in February, down 56% from a year earlier. And in Altadena (91001), 32 homes sold, down 43% year over year. Home listings fell in neighborhoods hit by the wildfires, too. 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