Malibu Real Estate Market Update

by ritasimpson on July 5, 2012

in How's The Market

The Median List Price in Malibu this week is $2,695,000 and the Median house size was 2840 Square Feet.

Inventory is tightening. Home sales have been exceeding new inventory for many weeks. It still is a buyer’s Market however, but as the supply declines and the demand continues to rise, the market is sure to move into a Seller’s zone and start to experience an uptick in prices.

The median price per square foot was $737 a strong uptick from a month earlier and the average days on the market has also strongly shrunk. 24% of the properties for sale decreased their prices as opposed to 3% that actually increased their price.

In the TOP (Highest Priced) TIER of the Market The Median List Price is $11,998,000. The inventory is 76 homes, 5 New, 2, Sold, Average Size 5,264 SQFT, $2,279/SQFT

In the Upper Second TIER  The Median List Price was $3,999,000. The inventory was 76, 6 New, Sold, Average Size 3,777 SQFT, $1,059/SQFT

Lower Third  TIER of the Market, the Median List was $1,995,000, Inventory 77, New 1, Sold 3, Average Size 2980 SQFT, $669/SQFT

Bottom Tier, The Median List Price was $999,000, Inventory 77, New 1, Sold 4, Average Size  1,875 SQFT, $532/SQFT

 

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