The recent wildfires in Los Angeles have significantly impacted the housing market, causing a surge in home sales in nearby communities, including Marina Del Rey, which saw an 88% increase. Other areas like Culver City and Santa Monica also experienced notable increases of 77% and 68.5%, respectively. Conversely, communities directly affected by the fires, such as Pacific Palisades and Altadena, faced drastic drops in sales, with Pacific Palisades seeing a decrease of over 78%. This shift indicates that displaced families are actively seeking new residences as a result of the devastation.
The unincorporated seaside community of Marina Del Rey saw the most dramatic year-over-year surge in sales, at more than 88%.
The housing market data around the areas impacted by the Eaton and Palisades fires suggests that displaced families are looking for a new place to call home.
Closings in areas that bore the brunt of the devastating wildfires have plummeted in January and February.
The wealthy, star-studded Pacific Palisades saw the sharpest drop in home sales of more than 78% compared with a year ago.
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