The market trends indicate that demand for land in the Palisades remains cautious, with buyers weighing rebuilding costs and the timeline for development
The real estate markets in Pacific Palisades and Altadena are experiencing contrasting trends in the aftermath of recent wildfires, with notable differences in land sales and property values.
According to a recent report from real estate expert Anthony Marguleas of Amalfi Estates, the Palisades currently has 63 available land lots, with 10 in escrow and six closed sales. By comparison, Altadena, which has only 35 lots on the market, has recorded 11 closed sales—nearly double that of Palisades.
Marguleas noted that the post-fire rebuilding process is expected to take approximately two years, with current data suggesting that about 10% of that timeline has already elapsed. One of the first burned-down lots in the Palisades is on the verge of receiving permit approval for new construction, an important milestone just 70 days after the fire. The lot is located in the Alphabet Streets neighborhood, and the owner is reportedly preparing for reconstruction soon.
Despite the destruction caused by the wildfires, property values in both neighborhoods have shown resilience. In Pacific Palisades, the median listing home price in February 2025 was $5.2 million, reflecting a 6.6% increase year-over-year.
Similarly, Altadena’s housing market has remained robust, with the average home value rising by 3.5% over the past year to approximately $1.29 million.
The market trends indicate that demand for land in the Palisades remains cautious, with buyers weighing rebuilding costs and the timeline for development. Recent listings range from $749,000 for a lot on Palisades Drive to over $4 million for premium parcels in sought-after locations. Prices vary depending on location, lot size, and proximity to completed infrastructure.
