The value of homes destroyed in the Palisades and Eaton Fires that blazed through Southern California in January 2025 has reached a jaw-dropping tally.
The devastating fires collectively wiped out an estimated $8.3 billion in property value across the Pacific Palisades and Altadena, according to a Realtor.com analysis that tracked the dramatic shift in values between late 2024 and the second half of 2025.
The shocking total loss in values between the two communities was based on the average of home values collected by real estate analytics firms Cotality and Quantarium. Realtor.com’s analysis of the data included only properties assessed by the California Department of Forestry and Fire Protection — meaning that a substantial number of affluent Pacific Palisades and working-class Altadena properties were not even counted.
Despite its enormity, the $8.3 billion figure also excludes Malibu, Topanga and other areas that were also affected by the fires in early 2025.
Collective property values of destroyed, damaged and untouched homes in the Pacific Palisades took a roughly $5.2 billion hit, according to the analysis. Working-class Altadena fared little better, with approximately $3.1 billion in total property value losses.
In both the Pacific Palisades and Altadena, homes bought between 2020 and 2024, and later sold as lots last year, went for roughly 50% less than their pre-fire purchase prices, Realtor.com found.
The dramatic haircut reflects both lost structures and uncertainty about what the future holds.
Cory Weiss of Douglas Elliman told The Post that residents’ efforts to return are hampered by red tape, high overall costs and an immeasurable mental toll.
“The lots I’ve sold or am going to sell are people that are just not coming back, and they’re moving on with their lives,” Weiss said.
He has seen the decline in values and subsequent price drops firsthand. A client bought a $30 million brand new estate eight months before the fires. Weiss said initial efforts to help his client purchase the adjoining property valued in the $8 million range were unsuccessful. After the fires, his client was able to secure it for $6 million.
Those who are able to return to their neighborhoods face not only insurance headaches and soot, but the loss of their surrounding community and vegetation, as well as the constant company of surrounding construction crews.
“It’s really turned into a situation where it’s almost going to be like a new town in three to five years,” Weiss said.
Read More: Here’s the real cost of the 2025 LA wildfires
