From Frenzy to Reality
Just a few years ago, sellers grew used to bidding wars and offers far above list price. That market was never meant to last. Today, things look very different.
Nationally, nearly half of homes are selling below their asking price.
This shift doesn’t mean homes aren’t selling — it means buyers are more cautious, and sellers need a sharper pricing strategy from day one.
What’s Happening in Pacific Palisades
Here in Pacific Palisades, the median list price is around $8.42M, and sellers are facing the same challenge. Nearly 18% of listings have had to cut their asking price — a clear sign that even in sought-after neighborhoods, buyers are pushing back on overpricing.
And timing matters just as much as price. Homes here are averaging about 91 median days on market.
The most motivated buyers are active in the first two weeks. Miss that early window, and you risk longer waits — often leading to reductions and tougher negotiations later.
A Look at Bel Air for Comparison
The story is similar in Bel Air, where the current median list price is $8.7M and homes are averaging 137 Median days on market. Nearly 24% of listings have had to reduce their price, a clear signal that even in LA’s most prestigious neighborhoods, overpriced listings are sitting.
Homes here are staying on the market far longer than in Pacific Palisades, with many properties sitting close to six months before selling. This underscores how critical pricing and timing are — even in Bel Air’s most prestigious zip codes.
This side-by-side view of Bel Air and Pacific Palisades shows a consistent truth across Los Angeles luxury markets: pricing right from the start is everything.
How to Stay Ahead as a Seller
If you’re preparing to sell in Pacific Palisades — or anywhere in LA’s luxury market — here’s how to avoid landing in the “below asking” category:
-
Price strategically, not aspirationally. Look at recent sales, not just current listings.
-
Highlight the lifestyle. Buyers in LA are purchasing more than square footage, they’re buying views, privacy, community, and the story of the home.
-
Leverage the first two weeks. Launching with the right price and presentation creates urgency, competition, and stronger offers.
Bottom Line
Nationally, half of homes are now selling under asking. In Pacific Palisades and Bel Air, the homes that succeed are the ones that come to market prepared, priced right, and positioned as lifestyle opportunities.
If you’re thinking of selling in Pacific Palisades or Bel Air, let’s connect and create a strategy that helps you join the half of sellers achieving their asking price — or more.
