Malibu Market Report
It does not matter which season it is, or which year. It matters not what the price range is, or whether it’s a house or a condo. It applies to an investor, or a family looking for their lifetime home. Nothing matters to a real estate buyer like getting a good deal!
What is a good deal?... Read More
It took nine years since the last one—2008—but Malibu experienced a new record year for home values in 2017. Both the average sale price and the median price in the 90265 ZIP code set whopping new highs during 2017. The average price of the nearly 250 home sales was more than $6 million.
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The price of gold in 1970 was about $39/ounce. Today it is about $1300. It has gone up about 33 times higher.
The Dow Jones stock average in 1970 was about 800. Now it is around 22,000, or about 28 times higher.
The median price of a home in Malibu in 1970 (representing... Read More
It’s simple, really. A Malibu homeowner decides to put his or her house on the market. They list it with a local agent. Everyone wants to live in Malibu, so it quickly gets offers and goes into escrow. A 30-day escrow closes and the new owners move in. And one last thing—the agent makes a giant... Read More
Malibu real estate will have its greatest year ever in 2017. It is a foregone conclusion. Even with the year not half over, you can lock it in. By more than one measurement, a new smash record year is virtually certain.
Through May, the volume of sales thus far locally has been nearly $... Read More
During the later part of April, three different Malibu homes came on the market. Which was the best deal? Which will probably sell quickest?
First, a large estate in Bonsall for well over $10 million had last sold in 2000 (the listing is 261 percent higher in price from its last sale;... Read More
The Malibu condo market gets much less attention than the housing market. Fewer celebrity buys, lower prices, fewer sales units than houses. But the local condo market can be a reliable bellweather to the overall market. Prices can bend upward just as well or better than estates during some... Read More
The highly rumored sale of the Playboy Mansion in Holmby Hills provides great fodder about past mammoth home sales in the Southland. That same iconic residence that first broke the $1 million threshold in 1971 may now be the first residence that cracks the illustrious $100 million level in the... Read More
Then, in one disastrous year, the median price in the state fell from $558,000 to $348,000. A total collapse of 37 percent.
It fell an additional 21 percent the next year, in 2009. That unprecedented free-fall in real estate prices devoured Malibu as well, albeit lagging one year later... Read More
Despite the thousands of inquiries, showings, and offers, and the hundreds of sales, what really defines a year is the median price result. It is the median price of all the sales that most expresses how well a year performed.
After a median value of $2,655,000 during 2014, the median... Read More