Malibu Home Prices Post 5% Increase In line with larger Market

by ritasimpson on September 26, 2012

in How's The Market

Malibu Home prices, as a whole market, posted gains this year in line with the larger National Market but there was a huge jump for the Beach Front properties, which posted an unprecedented 84% increase in the Median from last year, during the same period, and  a 2 % increase over 2008 Median Prices!

The news for the land side properties was less favorable with continued price contracting at the rate of 5% so far this year but stabilizing as Sale prices have registered at 91.5% of list for that market.

Home prices typically are strongest in the summer, the busiest season for home sales, before declining later in the year. But the 5.9% rise in the larger economy far surpasses the 0.4% gain seen through the same period last year and the 2% gain in 2010 providing a much-needed boost if it continues, per todays article in the Wall Street Journal.

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Post by Rita Simpson

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