Malibu Prices Lower This Year, But Sales Firm

by ritasimpson on December 22, 2011

in How's The Market

In Malibu  the number of sales from last year to this year was almost identical. The difference in performance was in the prices. Prices have come down mostly in the  Malibu high luxury market with sale  prices averaging a drop of 35%.  In the Median Price Market prices dropped about 14% and in the Lower Price Ranges the prices were pretty firm with an average decrease of 5%.

On the national scene “Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing,” said Lawrence Yun, NAR chief economist.  More people are taking advantage of the buyer’s market. We’ve seen healthy gains in contract activity. It looks like more people are realizing the great opportunity that exists in today’s market for buyers with long-term plans.”

 

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