October 4, 2012 12:27 PM
Hollywood's richest celebrities, and those ready to spend a hefty price for a lavish estate, are flocking to Pacific Palisades ... the seaside community that features homes listed for at least $1 million.
The Palisades is located just northwest of Riviera Country Club and features street names like Napoli, Spoleto, Amalfi and Capri.
As for why buyers are flocking to the area, realtor Melanie Sommers said the following:
"Inventory is low, there are a lot of buyers out there, and people are pulling the trigger. The key thing is that it's charming. Some are well-known, with people running up and down them for exercise. But most aren't. They take you all over -- down to the beach, into town. It's this wrinkle in time."
Celebrities who have called the Palisades home include Goldie Hawn, Tom Hanks, Kate Hudson (home shown above), Adam Sandler and Steven Speilberg.
Check Out The Gorgeous Montana Ranch Where Scarlett Johansson Secretly Tied The Knot
CELEBDIGS EXCLUSIVE - George Clooney And Amal Alamuddin Honeymoon At North Island In The Seychelles
Check Out The Luxury Yacht Beyonce And Jay Z Are Renting For $1.1 Million A Week