Malibu Home Sales Double This Year!

by ritasimpson on March 2, 2012

in How's The Market

Home sales on the land side  in Malibu (not beach front) have doubled in volume this year when compared to the volume during the same period, January and February, last year.  In 2011 there were 14 sales during the first two months of the year. This year there were 28. While pricing played a big roll in the comeback. Low mortgage rates is activating the  sleeper demand  and activity seems to point to a strong pick up in the market!

To summarize, during the period January/February:

In 2011 of the 14 Malibu Land Side properties Sold, the Low Price was $320,000, while this year the Low Price  out of the 28 Sold was $200,ooo.

The Median range for Malibu homes sold in 2011 in the same period was $1,499,000, this year the median was $1,375,000.

The High price paid for a Malibu House in January/February 2011 was $6,500,000, this year the high was $5,250,000.

During the same time, the average price paid per Square Foot in 2011 was $739.64, in 2012 it was $551 a DROP of 25%, HOWEVER the Seller flexibility has tightened as prices have come down, meaning in 2011 Sold Prices were 81% of the List Price while in 2012 Sold Prices were 91% of List Price. A strong indication that a bottom is very near.

If you have been contemplating buying a home in Malibu don’t wait for it to go wild, start now and get the best deals. There is still time to negotiate and purchase a great Malibu property, and finance it at record low rates! of the 28 solds in Malibu these past two months I sold two properties saving my clients over 13% of the listed Short Sale Price and 22.54% off the original list. Find me at 310-617-0996. I take pride in doing the best for my clients!

  1. 2 beds, 2 baths
    Home size: 1,270 sq ft

See all Solds Jan-Feb - 3/2/2012 11:32:45 AM.
(all data current as of 7/21/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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