May Sales Activity At Malibu Beach

by ritasimpson on June 8, 2012

in How's The Market

May was the month when all the beach homes that had been stuck on the market, for one reason or another, coincidentally closed.

For the 5 homes sold in May, the Median was$4,367,000  and the high priced sale was for $7,300,000. This was  for a brand new Malibu Road Architectural home which was in  probate. The final sale price got bid up in court by about $500,000 at the last minute!

As to the other homes, they had been lingering for an average of 2 years on the market at much higher asking prices than the market was willing to pay, but the moment the asking prices dropped to where the market was, they got snapped really fast! The proof? on average the sale price was 91.41% of the asking and sale completed within 60days of price drop!

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

arket Analysis Report

Last Run: 06/08/2012 at 3:38:00 PM   Status: Sold Sold Date: 5/1/12 to 6/1/12 Areas: (32) Malibu Beach
# of Listings
Average DOM
Low Price $
Median Price $
High Price $
Average Price Total $
*Avg. Price w/ Sq.Ft. $
*Average Sq. Ft.
*Avg. Price/Sq.Ft. $
***Avg. Price w/ LSZ $
***Average LSZ
***Average Price/LSZ $
Average SP/Average LP
Active
Backup
Hold
Pending
Sold LP
5
365
3,350,000
4,950,000
7,900,000
4,979,000
4,979,000
3,620.40
1,375.26
4,979,000
10,283.60
484.17
Sold SP **
5
365
3,100,000
4,367,500
7,300,000
4,551,500
4,551,500
3,620.40
1,257.18
4,551,500
10,283.60
442.60
91.41%
Expired
Canceled
Withdrawn
* = Square footage calculations do not include those listings with a reported square footage of zero (0 such listings were found).
*** = Lot size calculations do not include those listings with a reported lot size of zero (0 such listings were found).
** = All calculations in the “Sold (Sold Price)” column do not include those Sold listings with either a reported square footage of zero or a reported Selling Price of zero (0 such listings were found) or a reported lot size of zero (0 such listings were found).
Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Copyright © 2012 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed. Prepared by: Rita Simpson DRE# 01705752

 

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