Malibu Beach 3rd Quarter Market Report

by ritasimpson on November 1, 2011

in How's The Market

Although the market may at times look sluggish to Sellers and agents alike, the figures show a different story.

 

Malibu Beach sales are making a strong comeback.

Take a look at these charts pulled out straight off the MLS data:

The number of Sold properties in the third quarter of 2011 is up 300% from the same period in 2008. That is a three-fold improvement and it is stable as shown by the constancy over the last quarter of the same number of units sold.

The median Sold Price also increased and was 60% up compared to same quarter 2008. Of the 23 sales reported only  3 were distressed sales with a median sold price of $5,350,000 . There were three sales over 10 million and the average price paid per square foot was $1,726. That is not accounting for sales off the MLS

What is the most exciting to note though is that the average days on the market have been trending down 32% with what looks like a swift acceleration in this quarters results over the summer!

 

 

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