Bargain Hunting For Malibu Beach Homes

by ritasimpson on April 22, 2012

in How's The Market

Bargain hunting continues for Malibu beach homes and the pace of sales is heating up. This year so far we have had 11 sold properties on the beach ranging in price from $2,250,000 to $21,000,000! The median hangs at $5,500,000 with 7 of the eleven sales centering around the $5 million range and averaging a 16% discount in sold price from the asking price.

Six more sales are pending, meaning set to close any day now. They range in price from $949,000 to $8,950,000. Two of the 6 homes set on Broad Beach each with over 70 ft of beach frontage. Closed prices not available yet,  but we know that at least one of the listings had 50% price drop!

Take a look at what sold and the properties under contract.

 

 

 

 

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