Pacific Palisades homes impacted by the January wildfire had a pre-fire total value of $51.7 billion, with nearly 100 valued over $20 million. The report indicates many homes survived, and it excludes commercial properties and homes outside Los Angeles. The fires destroyed over 16,000 structures and caused 31 fatalities. Estimates suggest insured losses from the wildfires could range from $35 billion to $45 billion. By May, insurance payouts had reached $17.1 billion for 35,200 claims, while economic loss estimates have grown significantly.
The Pacific Palisades homes impacted by the January wildfire had a total value of $51.7 billion before the blaze devoured the westside Los Angeles neighborhood, according to a recent Redfin report.
Many homes included in its report survived. Nor does it include commercial properties or any impacted homes outside the city of Los Angeles, such as those in the Malibu area, Altadena or Pasadena.
An early damage estimate by data firm Cotality put insured losses from both the Palisades and Eaton fires at $35 billion to $45 billion.
As of May, insurance companies had paid $17.1 billion to cover all or part of 35,200 fire claims, according to the California Insurance Department's wildfire claims tracker.
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