Malibu / In-Town Q2 Comparative Market Update

by ritasimpson on August 4, 2014

in How's The Market

The Malibu Real Estate market remained strong in the second quarter.  Compared to last year’s Q2, average prices for the whole area increased by 12.5% to $3.15 million and the Median jumped by 16% to $2.5 million. While sales volume at the beach decreased compared to landside sales,  the average prices at the beach jumped by 25% a 8% advantage over  the landside properties in Malibu, where sales remained at same levels of  Q2-2013.

Santa Monica by contrast experienced a slight decrease in  volume of SFR sales but had a 6% increase in PPSF. Condo sales however jumped more than 25% in Santa Monica.

In Bel Air, Mega deals characterized the first half of 2014 with six deals over $20 million and the historic sale of 350 N. Carolwood Dr at $102 million!

In Beverly Hills continued strong demand in the high end of the market pushed average prices by 16% to $5.2MM, and a couple of closing above $30 million.

The Sunset Strip area saw SFR sales soften last quarter with prices down by 8% and condo prices dramatically down by 24% causing the volume of condo sales in the area to double!

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