How Did 2011 Compare To 2010 in Malibu Real Estate?

by ritasimpson on February 1, 2012

in How's The Market

Malibu Real Estate proved to be pretty stable in the last 2 years. No big swings except for the very high end at the beach which was a bit surprising.

For the land side properties properties under $2 million had an almost identical outcome both years with sales volume  around $96 million an unchanged median of $1.2 million and  a slight uptick in the price per square foot paid of 1.5%  on average to $511.

For the medium range of properties priced between $2 and $5 million the number of sales was stable at 46 units sold, the median increased slightly to $2,710,000 and price paid per square foot edged up about 8.5% to $698 from $644.

In the over $5 million dollar market there was a three fold uptick in volume of sales with buyers catching great deals as some big estates went into foreclosure. The median price here was $6.5 million and  price paid per square foot decreased by 5% to $933 from $980.

On the Beach side 2011 was much slower than 2010 with a almost 36% drop in sales volume mostly in the upper market.

Price per square foot remained mostly unchanged in the under $2 million dollar range and the $2-$5 million market, however in the  over $5 million dollar range  prices and consequently price paid per square foot was down about 30% to $2,097 on average from $3,000.

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