Pacific Palisades First Quarter 2010 Market Results

Market Performance - First Quarter 2010

Strong Fundamentals Suggest Pacific Palisades Market May Be On the Rise:

•- As of March, 2010, there were 178 single family homes listed for sale in the MLS for Pacific Palisades.

•- After the first quarter in 2010, 65 homes have sold in the Palisades and 31 homes were in escrow as of March 31, 2010..

•- Comparing March 2010 vs. March 2009, the number of homes for sale is down 35% while the number of homes sold is up a staggering 91%.

•- In Pacific Palisades, the median sale price for the month of March was $1,740,000. The average sales price for the month of March was $2,236,007 and the price per square foot in March was $697.

•- Interest rates are still close to all time lows (however rates are rising) helping make this an excellent time to purchase a property. Many lenders are seeing increased level of consumer confidence and are slowly lending again which is the key to our Real Estate recovery.

•- If we are at the bottom, you could reasonably be looking at a 15 to 20 appreciation over the next 5 years which if you consider the effect of leverage, if you put 45% down, you could be earning double that appreciation.

For more information about your specific area within Pacific Palisades, or if you would like a free home value estimate, please call us at 310-774-3838 or email us at elizabeth@teamstein.com or james@teamstein.com