Malibu Home Prices Up and Down

by ritasimpson on June 29, 2012

in How's The Market

Prices Up for Beach properties, Median down for Land side homes.

The Malibu Real Estate Market has finally stabilized. Malibu Sales Volume increased by 158% when you consider both areas (beach and land side) and compare the first 6 months of last year to the sales this year. For Beach Front properties the increase in sales was 185% while when you consider only land side properties the increase in volume was 145%.

Prices: The Median Price of a Malibu home, when you lump together beach front and landside properties, registered a modest  increase of 2.6% overall.  But if you separate the Beach properties from the landside properties youu are in for a big surprise. The Beach Median price jump, registering a 157% increase. Another cool indicator was the Price of Highest Priced Sale. At the Beach the Malibu Highest priced was up 198% from last year! This means Buyers were coming in for the more expensive homes as opposed to the bargains.

On the land side however, Malibu had the opposite phenomena. The Bargains got picked and many homes sold in short sales bringing the Median Price for a Malibu land side property down from $1,650,000 last year to $1,375,000 during the during the first six months of this year year. Still the Highest Price Sale for a land side property was up by 120% from last year’s highest priced sale. This means Buyers also started picking up the higher priced properties on the land side as fewer bargain remain.

For the latest and the best insider news and stats Don’t hesitate, to contact me.  I will  get you the facts FAST, so you can make the best decision based on figures and my boots on the ground experience.

 

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