The Good News For Buyers And Sellers Of Malibu Homes

by ritasimpson on August 5, 2012

in How's The Market

For Buyers as well as for Sellers of homes in Malibu there is good news this Summer:

Every price range and area ( beach and hillsides) saw improvements in the market this year that benefit each side: Seller closed faster and depending on the area saw increased competition for their properties and in some cases increases in the price paid per square foot. Buyers, found Sellers willing to negotiate and got bargains that will be hard to replicate in the future.

In the lower price ranges of homes in Malibu (properties under $2,000,000) we witnessed a drop in the Median Price Paid of about -16%, and  the average price paid per square foot  lost  -25%, on the other hand the volume of units sold was up by +40%. This meant Sellers were finally willing to let go, and buyers were getting great deals.

In the Mid price range for the Malibu homes,  Properties priced between ($2,000,000 and $5,000,000) the Median went up nearly +40% for Malibu Beach properties and while the Median moved +2% upwards for the Malibu landside properties. The volume of sales also went up by close to +40%.

In the over $5,000,000 price range for homes in Malibu, we appear to have had a run on the $5,000,000 price range at the beach with sales quadrupling over last years volume. This came with  a -14% decrease of  for the price paid per square foot in those transactions. On the land side sales were flat but the price paid per square foot increased by +33% while the Median decrease by -10%.

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