Nothing Below a Million

6:00 AM PDT 9/25/2012 by Gary Baum, Daniel Miller

Asking prices have hit a new baseline in the Palisades, where the industry embraces a low-key lifestyle.

Just as the summer was winding down, the Pacific Palisades real estate market plateaued in a way that area observers say they've never seen. For a stretch of September, every single-family residence for sale in the seaside community, home to the likes of Bradley Cooper, Kate Hudson, Hilary Swank and Billy Crystal, was listed at more than $1 million -- a feat rarely achieved in Los Angeles.