Home Sales In Malibu Blossoming!

by ritasimpson on April 12, 2012

in How's The Market

Spring in Malibu has home sales  blossoming  in all price ranges. From $500,000 to over  $20 million. There were 109 properties either in escrow or sold in these first months of the year compared to 80 last year in the same period.

The momentum in the Malibu Real Estate Market  is picking up steam and activity  was not just  in the lower-priced homes. Over 50% of the transactions topped $3 million and seven homes were on the beach side!

The new access road for Rambla Pacifico ushered a couple of sales over the $3 million mark in an area that has been quiet the last couple of years. A confirmation that the new road was an essential investment.

La Costa Beach has been one of the most active beach areas with two recent sales (and two more in escrow). In Point Dume we had a couple of spectacular transactions one on Birdview for $21 million and another in escrow priced at $14 million on  Cliffside.

In the more accessible ranges The Malibu West neighborhood registered 3 sales already.  Including a four-bedroom home with a pool for just over $1 million, a home with panoramic views and a huge entertaining patio for $1.2 and   a  seven bedrooms  REO just over $1.3 million.

At the low end of the spectrum a short sale for $650,000  in the Malibu Highlands, near Kanan.

 

Market Analysis Report

Last Run: 04/12/2012    Status: Pending, Backup, Sold Sold Date: 1/1/2012 to 4/12/2012 Areas: (33) Malibu — (32) Malibu Beach
# of Listings
Average DOM
Low Price $
Median Price $
High Price $
Average Price Total $
*Avg. Price w/ Sq.Ft. $
*Average Sq. Ft.
*Avg. Price/Sq.Ft. $
***Avg. Price w/ LSZ $
***Average LSZ
***Average Price/LSZ $
Average SP/Average LP
Active
Backup
34
126
725,000
1,699,500
17,500,000
3,496,938
2,931,863
3,319.17
883.31
3,496,938
74,970.12
46.64
Hold
Pending
21
93
599,000
1,395,000
8,950,000
2,555,548
2,476,194
2,971.39
833.35
2,555,548
50,146.90
50.96
Sold LP
54
166
299,000
2,145,000
27,000,000
3,205,928
3,070,358
3,415.47
898.96
3,205,928
48,486.50
66.12
Sold SP **
54
166
200,000
2,000,000
21,000,000
2,816,365
2,661,527
3,415.47
779.26
2,816,365
48,486.50
58.09
87.85%
Expired
Canceled
Withdrawn

 

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Post by Rita Simpson

Rita has written 468 articles.



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