T
he January wildfires that ravaged Los Angeles left behind a trail of destruction, including some of the city's most expensive homes. According to a new report from Redfin, nearly 11,000 homes were damaged across the city, resulting in an estimated $51.7 billion in property losses.

    In affluent neighborhoods like the Pacific Palisades, where the typical destroyed home was worth $3.7 million, the financial toll is particularly staggering. The so-called Palisades Fire has been ranked as the third-most destructive wildfire in California's history, with nearly 100 properties valued at $20 million or more among the losses.

    While some property owners have found buyers for their fire-damaged lots, those in the Palisades are facing a tougher market due to high price points and the lack of rebuilt infrastructure. Residents are renting and grappling with stalled insurance claims, making it difficult to sell vacant lots.

    Rebuilding efforts have been slow, with amenities like grocery stores still absent from the area. As one Redfin agent noted, "Some people whose homes burned in the Palisades have put their vacant lots up for sale, but those aren't selling as quickly as the lots in Altadena because the price point in the Palisades is so much higher."