Which Malibu Neighborhoods Sold Most & How Much?

by ritasimpson on August 13, 2012

in How's The Market

If you have been thinking of buying a Malibu home but have been discouraged by the generalized statistics that circulate out there stating that the Median price of a Malibu Home is $1,850,000  read on, Malibu Real Estate has something for everyone!

Median Prices for Malibu Homes and Condos vary wildly depending on the neighborhood. This year so far the Median for a Malibu residence spanned from $500,000 to $6.5 million and everything in between depending on the neighborhood.

Here is a snapshot of the Malibu Estate Market this year so far:

Malibu land and Beach areas had a total of 135 single family home sales. 104 of these were on the landside and 31 were on the beach.

For the landside properties the most popular neighborhood was Point Dume with 13 sales, a sales volume of $54 million and a Median price paid of $4 million and an average price per square foot of $947.

On the beach side the most popular location was Malibu Road with 8 sales and a sales volume of $42 million, a Median of $5.4 million and an average price per square foot of $1,900

The Canyons, a combination of several different neighborhoods sharing the common feature of being up in the hills, had by far the largest number of combined sales with a Median of $880,000 and an average price per square foot of $560.

Another very popular Malibu neighborhood, similar to Point Dume for its walkability and proximity to the beach while still offering large lots, is Malibu Park. It had 12 sales a sales volume of 26 million and a Median of $2,400,000 and an average price per square foot of $703.

La Costa Beach was unusually active this year with 4 reported sales a Median of $6.4 million and average price per square foot of $2,200.This was similar to the results we had for the beaches North of Broad Beach this year except that the Median in the North was $4.4 million

The South Malibu Beaches have been active as well with 5 sales,a Median of $2 million and an average price per square foot paid of $835

The Most affordable Neighborhood in Malibu was the Malibu West Neighborhood, offering homes situated close to the beach, businesses and school amenities with a great walkability score all at a Median of $1 million and an average price per square foot of $409.

In the Condominium realm we had 33 sales at a median of $575,000 and an average price per square foot of $479.

All of these figures are looking back at past transactions during this year. If you want to know how things are looking forward, either because you are interested in buying or selling a home in Malibu call me for an in-depth evaluation. I will share with you the short and the long of my research and equip you with the best market intelligentsia you can have.

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Post by Rita Simpson

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