Malibu Real Estate Market Update

by ritasimpson on November 7, 2012

in How's The Market

It’s been a great year for Malibu Beach Home sales, especially for those priced between $5 and $10 million. In this bracket sales surged 933% from the sales last year in the same price bracket, quite a surge! meanwhile the priced paid per square foot of those homes dropped by an average of 25% although Sold to list price ratio remained constant at 90% This meant Sellers were pricing their properties close to Market level. The median remained unchanged In the $6.5 million range.

Here are three of the best buys at the beach so far this year:

This gorgeous Encinal Beach property Sold at $7,600,000 in June.

This other home on Malibu Road is another example of the great buys at the beach this year. It closed in May at $7,300,000

ocean front pool

And this Malibu Cove Colony Beach home wich also closed in May at $4,367,500.

Twenty seven properties are on the market in this popular Price range and a few are quite the deal. Call me if you have any questions, or would like to take a peak.

The other price brackets: Under $2 million, between $2 and $5 million and over $10 million The sales volume, price paid per square foot and ratio of Sale Price to List price  90+- % remained constant for 2011 and 2012.

On the land side of Pacific Coast Highway however the big action was on the under $2 million dollar range. Here sales surged 45% and while the Median remained constant at $1.2 million the price paid per square foot declined about 20%. There are 41 such properties on the market right now.

The other price range that performed better this year than last year was the $2 to $5 million dollar range. Here sales increased by 34% and while the median also remained constant the price paid per square foot went up by 5%.

Here are some of the beautiful Malibu landside homes that sold:

This 4,500 sqft home with pool and spectacular ocean views sold for $2,035,000 in September.

This other in a gated community went for $3,100,000.

 

And last but not least this impeccably appointed home with La Costa Beach rights, sold in May for $3,450,000

There are 59 homes currently on the Market in Malibu in this price range. Call or email me for the best selection.

 

 

 

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