Point Dume, Malibu Home Median Up 26%

by ritasimpson on October 13, 2013

in How's The Market

In the last three months the Median price of  homes sold in Point Dume, Malibu rose by 26%. Homes in this most desirable neighborhood in Malibu tend to sell faster and at higher prices than in other neighborhoods in Malibu. Life at the Point is more integrated.  Some of the extra perks of living in Point Dume is that one can walk to the neighborhood stores or the elementary school and to the beaches. Having a beach key is also a great deal here: it means you belong to a select group that has private access to the sweetest surf spots and the breathtaking beaches by the bluffs.

The Point has always been one of the favorite neighborhoods in Malibu with prices above the average for other neighborhoods. In the past three months the more expensive homes have been selling. Although the volume is the same as last year, the Median went up 26% while the Sold to List price remained unchanged at 94.5%.

On the longer view comparing last year to this year so far volume wise we are flat, so we did not sell any more homes but we got higher prices for the homes we sold by about 8% and a 10% increase in the sale to list price. This means people are negotiating less and paying more to get in.

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