Redfin Reports Over $50 Billion Worth of Los Angeles Homes Were Impacted by the January Wildfires

The typical home that was impacted had a value of $3.7 million prior to the fires

SEATTLE--(BUSINESS WIRE)-- $51.7 billion worth of homes in the city of Los Angeles—or roughly 11,000 residential properties—were impacted by the wildfires in January, according to a new report from Redfin, the real estate brokerage powered by Rocket. The report analyzes data from the Los Angeles City Council.

The council shared a list of 11,125 residential parcels in the city of Los Angeles that were inspected by the Los Angeles Department of Building and Safety after the wildfires. Redfin was able to match nearly 11,000 of those parcels with Redfin property value estimates as of December 2024—the month before the fires. Many, but not all, were completely destroyed by the fires. The majority of the properties Redfin analyzed were single-family homes.

Most homes in this analysis were impacted by the Palisades Fire, which is estimated to be the third most destructive wildfire in California history, according to the California Department of Forestry and Fire Protection (Cal Fire). The fire made news for destroying homes in the high-end Pacific Palisades neighborhood, but many other areas were also devastated in January fires. Please note that this analysis excludes the impact of the Eaton Fire, which impacted the Los Angeles suburb of Altadena, meaning the total value of homes destroyed in the January fires likely far exceeds $51.7 billion.

Here are some other statistics gleaned from Redfin’s analysis of nearly 11,000 affected Los Angeles properties:

• The typical impacted home had a value of $3.7 million prior to the fires
• Nearly 100 properties had a value of over $20 million prior to the fires
• The typical impacted home was built in 1957
• The typical impacted home was 2,916 square feet*
• The roughly 11,000 impacted properties Redfin analyzed total 36.7 million square feet*
• The typical impacted home has a First Street Fire Factor risk score of 5, or “major”

*Finished square footage of main structures

“The L.A. housing market is moving slowly after the fires,” said local Redfin Premier real estate agent Greg Eubanks. “A lot of people who lost their homes are renting while they work through the insurance claim process, and haven’t figured out whether, when or where they’ll buy again. 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, which is a barrier for investors. It’s also a bit of a tough sell because infrastructure hasn’t been rebuilt yet—there are still no grocery stores.”

Fire risk scores are based on the latest available data from First Street and reflect their composite methodology, which incorporates both historical fire activity and forward-looking climate modeling. These scores are not time-stamped in the traditional sense, as they are designed to represent ongoing and projected risk rather than a fixed point in time.

To view the full report, including a map showing fire risk of the areas burned, please visit: https://www.redfin.com/news/los-angeles-wildfires

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at Redfin.com/news. For more information about Rocket Companies, visit RocketCompanies.com.

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Contact Redfin Journalist Services:

Isabelle Novak

press@redfin.com

Source: Redfin