Malibu Market Shifts Into High Gear

by ritasimpson on July 6, 2014

in How's The Market

While last year we saw property sales on the land side of Malibu concentrated in the under $2 million dollar range. This year so far sales are tilted towards the higher priced properties. The price range that has been more popular so far this year is in the $3 million to $5 million dollar range, with sales over one and a half times more than last year in this same bracket. On the $2 million to $3 million dollar range, sales increased by 50% so far this year compared to the same period last year and in the over $5 million dollar range sales increased 6 fold more than last year in this price bracket.

All indicates that the winds have finally shifted towards the super luxury properties in Malibu with little activity in the lower brackets. This may be because offerings are mostly concentrated in the higher brackets. While there are 180 properties on the landside for sale in Malibu today, only 37 are priced under $2,000,000 dollars. with 55 priced over $5,000,000 dollars and 143 priced over $2,000,000. It is clearly the exception to find a property under $1,000,000. Today there are only 3!

Notable among the sales this year are:

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