Malibu Homes Are HOT Buys!

by ritasimpson on November 28, 2012

in Deal Of The Month

Malibu Home sales are up by 150% so far this year! That is for the combined Malibu neighborhoods and combined price range sectors. Certain areas performed way above average while other neighborhoods were more quiet. The good news is that not only did we sell more homes in Malibu this year but that the Median price also increased by an average of 10% and the price paid per square foot on the sold Malibu homes increased by 5% on average.

The most popular neighborhoods were Point Dume, Malibu Park, Malibu Road, Broad Beach and La Costa Beach.

Point Dume  one of Malibu’s most sought after locations posted 19 sales so far this year and the second highest sale in Malibu this year, a blufftop property off Birdview that sold for $21,000,000 early this year.

Hot Homes In Malibu

Average price paid per square foot was 15% higher than last year.

Point Dume hosts the only large “neighborhood” on the Pacific Coast Highway beach side – with about 400 homes. The peninsula has a rural atmosphere. Streets have no sidewalks and streetlights. Residents can often be seen walking, riding bikes, or on golf carts.

The Best selling Malibu neighborhood at the beach this year was La Costa Beach, an intimate close to the city beach which has a very distinct character due to its consistent and mostly private patronage of the homeowners of the La Costa Beach Club and the La Costa beach home owners. It is one of the least accessible beaches to the general public. One of the most publicized sales on this beach this year was the sale of Charlize Theron’s Malibu Beach house for $6,500,000 a couple of months ago. Here is a peak of what it looked like:

The Broad Beach area was next in line for unit sales this year despite the threatened beach and the costly restoration project of the sand dunes, but most of the homes sold in the  Broad Beach area this year were on the landside and the lower price inventory. Great Deals were to be had earlier in the year, as an example this 5,300 sqft home on the bluff with private access to the beach below. It sold for $3,250,000 back in May.

So what are the new best deals in Malibu these days??

Here are some of my best picks:

Malibu Cove Colony 3,000 Sq Ft priced at $4,950,000

The most charming and best located home on Point Dume, 4,000 Sq Ft home on over a flat bluff acre, asking $12,400,000.

and last but not least A 5 bedroom 5 bath, Malibu Colony Beach House:

Asking $13,950,000

See the details:

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

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Post by Rita Simpson

Rita has written 468 articles.



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