July 10

Pacific Palisades Real Estate Market Update

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Living in Pacific Palisades, CA: An insider’s guide

747 Via De La Paz

Sold in the Village Bluffs neighborhood of Pacific Palisades: a 5-bedroom Federalist-inspired home with resort-style grounds featuring lavish outdoor amenities

Tucked between rolling mountains and the wide-open ocean, Pacific Palisades offers a lifestyle that mixes city charm with natural beauty. This coastal town is a quiet escape from the busy city life, with clean beaches and scenic trails close by. Its town center has a small-town feel with a touch of sophistication, mirroring the neighborhood’s status as a sought-after residential area in all of California.

Unlike its busy neighbors, Pacific Palisades has a calm and quiet vibe, attracting those who like things laid-back. Residents enjoy beachfront living without the big crowds, making it a perfect choice for those looking for an understated lifestyle, all while being close to the excitement of Los Angeles.

You might have heard a lot about the neighborhood already, but if you still don’t have the answer to the question “Is Pacific Palisades a good place to live?” – here’s everything you need to make the call yourself.

A GEM AMONG LA’S EXCLUSIVE NEIGHBORHOODS

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Built to nurture the spirit

Pacific Palisades was founded back in 1921 because of the vision of the Southern California Methodist Episcopal Church and Reverend Charles H. Scott.

They dreamt of a place where people could nurture their spiritual and mental well-being. The area’s climate, featuring cooler summers than the inland parts of LA and sunnier days than nearby Santa Monica, attracted the first settlers, who were mainly Methodists.

By the late 1930s, Jewish artists and intellectuals fleeing the Holocaust found a safe haven in the community. This coastal location, with its gentle hills and mild Mediterranean weather, offered them refuge, which residents still enjoy today.

Unlike other, similarly star-studded neighborhoods in the area that look nothing like their original selves, Pacific Palisades got it right from the start. Old homes coexist with new homes seamlessly, building on – instead of erasing – the community’s timeless, elegant charm.

Get your bearings

This coastline spans from just beyond Sorrento Beach in Santa Monica to Sunset Point Beach, ending in Malibu. Notable beaches include Will Rogers State Beach, Sunset Point Beach, and Ginger Rogers Beach, a destination for gay men back in the 1940s and LGBTQ+ friendly to this day.

Pacific Palisades is also distinguished by its prominent neighbors. Brentwood lies to the east, with Malibu extending to the west. Southeast leads to Santa Monica, while a slight southwest shift brings one to the Santa Monica Bay. To the north, one encounters Topanga and the picturesque Santa Monica Mountains.

Despite its proximity to these bustling areas, Pacific Palisades maintains a secluded atmosphere by geography and design. There are only three main entrances to the community: Temescal Canyon, Chautauqua, and Sunset Boulevard.

The term “Pacific Palisades” is derived from “palisades,” signifying tall cliffs along a body of water; in this case, they overlook the Pacific Ocean. The name is a nod to The Palisades along the lower Hudson River in New York.

Whether you’re from Los Angeles or a newcomer to the area, it should only take a few minutes of being here to answer the question, “Is Pacific Palisades a good place to live?” with a resounding yes.

In this insider’s guide, you’ll get as close a look at what makes this hidden gem of a neighborhood such a wonderful place to visit or, for the lucky few, to call home.

‘A GENUINE COMMUNITY WITH A STRONG SENSE OF PLACE’ – Reddit

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While Pacific Palisades feels less crowded than most neighborhoods in Los Angeles with just over 23,000 permanent residents, the robust population density dwarfs the average of other similarly sized neighborhoods.

The median age of 48 further sharpens the picture, indicating an affluent and established demographic who could have chosen to live anywhere, yet chose Pacific Palisades. With an average individual income of around $132,000, they were free to live in some of the tonier suburbs of Los Angeles, but their decision to buy a house in Pacific Palisades speaks volumes about the community’s timeless appeal.

While the neighborhood is a perfect fit for families, especially since its school district is one of the best in the nation, the average household size is just three people, suggesting a smaller nuclear family. Slightly more than two-thirds of households in the neighborhood are without children, which may indicate that empty nesters might have chosen to stay put to enjoy the timeless perks of living in Pacific Palisades.

WHERE TO LIVE

Pacific Palisades is made up of distinct neighborhoods. Some were part of the original development in the 1920s or close to it. These neighborhoods can be found along Sunset Boulevard, which runs through the center of Pacific Palisades. Homes in these neighborhoods generally have smaller lot sizes compared to newer developments but make up for it in charm and character. Others are more recent developments, with larger lots and newer homes.Some key neighborhoods you may want to explore in the course of searching for your dream home are:

Browse more Pacific Palisades neighborhoods here

‘THE HOMES ARE BEAUTIFUL AND HAVE VIEWS OF THE MOUNTAINS AND OCEAN’ Niche

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Is Pacific Palisades a good place to live for you? When was it ever not?

But wanting to live here is an entirely different matter from the practicality of making it happen. The higher cost of living in Pacific Palisades is testament to the neighborhood’s desirability as much as it is about other factors. So if you’re keen on moving here, this primer gives you a better idea of the Pacific Palisades real estate market.

Your housing options

Populated by A-listers, Pacific Palisades real estate is made up of single-family homes on expansive lots. Many of the best properties will have a view of the Pacific Ocean on the west or the shrub- and tree-lined canyons to the east.

Historic Mediterranean and Spanish-influenced architecture is prominent here, which really fits the climate and scenery. These homes sit on tree-lined streets, with ample outdoor space for entertaining and to add an extra layer of privacy.

Up in the canyons, the glass and steel creations that typify the postmodern Los Angeles aesthetic, offer a modern living experience with their large decks, impressive balconies, and spellbinding views. Aside from families, these homes suit young professionals and empty nesters who want turnkey luxury with a touch of Zen.

Real estate trends

Bel Air has always been the standard when it comes to the most expensive real estate in LA. However, Pacific Palisades is not far behind. Jennifer Lopez and Ben Affleck’s $68 million price tag for their 12-bedroom, 24-bath home in the Pacific Palisades is just one in a long list of celebrity-owned Pacific Palisades properties sold at eye-watering sums. Read the blog post here. Some of the most desirable homes here aren’t even officially on the market – you have to know the right people to even find out about them.

For anyone currently in the market for a new home, there is a bright spot. In recent months, home prices have dropped by 15.5% compared to the same time in 2023. The median listing price in July 2024 was $4.35 million. This adjustment in prices has also meant that homes have remained in the market from an average of 41 days in 2023 to 47 days this year.

Also notable is the 9% decrease in the number of homes sold in the past 12 months. The decrease hasn’t dampened prices, however. Homes continue to sell at 98.7% of their list price on average, which attests to the enduring pull of Pacific Palisades as a location..

If you’re looking at the most in-demand houses on the market, expect to pay the full list price – at the very least. If you’re on a tighter timeline, you may have to pay over the asking price.

‘EXCELLENT TEACHERS AND WONDERFUL EXTRACURRICULAR ACTIVITIES’ – Yelp

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Is Pacific Palisades a good place to live? For families, a key factor to consider before answering that question is the quality of schools.

There are several excellent schools in the area. The award-winning Palisades Charter High School is one of the top-rated public high schools in California, with a 95% graduation rate. This is just one of the many charter and magnet schools in the area that offer specialized programs and advanced coursework, including:

  • Paul Revere Charter Middle School
  • Canyon Charter Elementary School
  • Renaissance Arts Academy

For families who would like to look into private schools, some of the more notable options include:

  • Calvary Christian School
  • Seven Arrows Elementary
  • Westside Waldorf School

Pacific Palisades isn’t just about classroom learning. Thanks to its great location, kids here can dive into all sorts of after-school activities.

The beach, trails, and parks are all nearby, making it easy for children to learn about and explore the outdoors. Access to the museums and galleries that make up the area’s arts and culture scene are as important to a well-rounded upbringing. All are crucial in nurturing the growth and continuing education of the child.

‘I WAKE UP EVERY DAY FEELING LUCKY TO BE IN THE PALISADES… LIVING HERE ADDS A LAYER OF CALM TO YOUR LIFE.’ – Resident

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As can be expected from its affluent community, Pacific Palisades has everything you need for a comfortable and affluent way of life.

Shopping and dining

It might be easy to forget that amidst all the green spaces, Pacific Palisades is still a part of Los Angeles. That means the shopping and dining here is about as top-notch as it gets.

The Pacific Palisades Village is the neighborhood spot, but that’s only obvious if you look at how people are casually dressed. Transplant this place in almost any other neighborhood and it would be the crown jewel of area shopping.

High-end boutiques like Bottega Veneta, Diptyque, and Saint Laurent sit shoulder to shoulder with Los Angeles originals like Cult Gaia’s singular pieces and towne by elysewalker’s effortless West Coast cool. Similarly, gourmet experiences and to-go options are both well represented.

If you’re after fresh produce, the weekly Pacific Palisades Farmers Market at Swarthmore Avenue is the place to be. Located near the Bay Theater and Sunset Boulevard, this market offers a great selection of locally grown fruits and vegetables. You’ll also find many local artists on the come-up here, showcasing their handmade wares.

Healthcare

Everything here is tops. Some of the best are:

The UCLA Medical Center is just three miles away.

There are also several nursing homes, mental health facilities, home healthcare services, and assisted living facilities in the area.

Hidden gems and local favorites

Pacific Palisades keeps its Los Angeles vibes to a low thrum. Unlike similarly affluent neighborhoods like Santa Monica or Malibu, the neighborhood sticks to its easy-going California roots: fewer tourists, fewer crowds, and more space to breathe.

These two factors make it fun to explore the neighborhood and discover hidden gems that locals love, such as small boutiques and restaurants tucked in quiet corners. Give yourself a few weeks to explore and you should have favorites of your own soon enough.

Some good places to start your journey to finding well-loved spots are:

  • Hank’s for American classics that are always done right. A long-time staple in the neighborhood, it’s not rare for locals to drop by for a quick lunch and return later in the evening for a full dinner.
  • Temescal Gateway Park is a serene escape from the city with over 140 acres of trails, picnic areas, and stunning views. It’s also where the Elizabeth Cheadle Dining Hall is located, where some of the biggest Pacific Palisades events are held.
  • Moku Sushi offers a delightful blend of Japanese and Thai dishes. The sushi here is particularly commendable and has won over even the pickiest residents of Los Angeles. If you’re new, try the Four Season or Happy Rolls to experience some of their best offerings.
  • The Getty Villa is hard to miss. Inspired by a 1st-century Italian villa, it’s a former mansion replete with Greek and Roman artifacts. The well-kept grounds also provide stunning views of the countryside and ocean, making it a great place to recharge after a busy day.

FIND THE BEST SELECTION OF PACIFIC PALISADES LUXURY HOMES TODAY

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Looking for a Pacific Palisades home with priceless views? Contact Realtor James Respondek today

If you’re looking to buy a luxury home in Pacific Palisades, work with Realtor James Respondek and his team at The Respondek Group. With a deep-seated knowledge of the Pacific Palisades area borne from decades of experience, James and his team are always ready to give you the guidance you need to successfully navigate the competitive Los Angeles real estate market.

Take the first step towards securing your dream home in Pacific Palisades. Call James and The Respondek Group at 310.488.4400 or send us an email to schedule a consultation today!