Malibu Sales Up 20% In 2014

by ritasimpson on March 5, 2014

in How's The Market

Despite the Very tight inventory, and tight financing conditions, sales are up in Malibu.

A gloomy real estate  forecast  for most Southern California areas for 2014 appears to not be affecting the Malibu Market.

While in  six county regions of Southern California, sales in Jan-Feb were down 21 percent from  December and down 10 percent from the same period a year earlier. In Malibu sales were UP 20% during the same period and Sale to list price was at 90% 5% above last year’s ratio.

DataQuick reports that 2014 started out with continued tight inventory, rising prices, rising interest rates and a shortage of baragin-priced foreclosed homes. We currently have none in Malibu.

In the overall region, sales were 17 percent below the average 17,493 for a January dating back to 1988, when DataQuick began tracking the marker. That is not unusual, though, since the market collapsed in the middle of the last decade.

Read the full story here.

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