Our practice has shifted to real estate valuation and analysis for the Palisades area
The Market
So what's the deal?
Through June 12, there have been 9 public sales:
- Average sale price: $2.33M
- Average sale price per square foot (land only): $323
- Average days on market: 38 days
Noteworthy recent sales:
- 325 Via De La Paz – $3.21M at $428/SF
- 514 Via De La Paz – $3.10M at $413/SF
Where we land:
- Lots wider than 45 feet are at a premium
- Those with clear view potential continue to command price premiums.
- Many sites will be harder to redevelop due to windy / tight streets.
- Some great spec potential with view lots, though must be able to build at least 4000 sf.
- Check the prior permitted structure, as being able to build within 10% of prior is a huge advantage. This puts a premium on well-built homes under 5 years old.
- You can check the LEGAL permitted structure size here: https://zimas.lacity.org/
- (Enter the address and click on "Assessor" in the side panel; look for "Building 1 / Building Square Footage".
Learn More
Owners: we are happy to provide valuation analysis with no obligation -- we are not brokers.
Buyers: If you would like us to run analysis on a property (or properties) you are considering buying, please reach out.
Preliminary Lot Valuation
Complete this quick and confidential form so we may provide some initial valuation guidance. There is no charge or commitment for this service.