Best of the Best: The $20 Million and Over Malibu Real Estate Market
It is not a simple science to break down the rarified air of the Malibu Real Estate Market at it’s highest levels. Not all sales are reported (especially at this level) and prices are hard to verify (and often include the sale of furniture, which can further complicated the accounting of the actual price of the real estate being sold). Both of the top 2 all time highest priced residential home sales in Malibu do not show up on any normal real estate search (The No 1 sale is on the Encinal Bluffs, Malibu for $75 Million, and the No 2 sale is on Paradise Cove, Malibu for $41 Million). For the purposes of this blog post I wanted to focus on listings and sales of homes of $20 Million or more, from January 1, 2000 to today. For all of the above listed reasons I know I am missing some sales. In fact I am even hiding some of my own sales because I have signed confidentiality agreements, but the data I am presenting is a pretty darn good inside look into a very exclusive group of homes and home owners. The $20 Million and Over Malibu Real Estate Market.
Of the sales that actually appear in the MLS we have 10 homes currently showing as Active Listing at $20 million or more, along with 20 homes Sold at $20 Million or more since January 1, 2000 (18 Sold and 2 Expired Listings that were also sold but hidden as Expired Listings). To be safe lets say there have been some other sales that were hidden from the MLS (which used to be much easier to do in the past than it is today). This still gives us a fairly accurate summary of all the Sales in the history of Malibu over $20 million. The majority of these have been on the beach, broken down in a mix of Maibu’s best beach front locations (from east to west): Carbon Beach, Malibu Colony, Malibu Road, Paradise Cove, Point Dume, Broadbeach Road, and Encinal Bluffs.
As a real estate agent, longtime Malibu resident, and multiple Malibu property owner, one of the things that is most exciting to me about this data is how many of these sales have occurred in the last 4 years. Coming out of the Malibu real estate apocalypse (the years from 2008 to 2010), many real estate “experts” predicted that the Malibu Real Estate market would never fully recover, and would never come back to its previous high water mark (that our grandchildren would be able to buy Malibu homes cheaper than we had). Not only has that proved not to be the case, but at least in the high end market, I feel we are poised for more record breaking sales in Malibu. We have never seen the level of buyer’s running through Malibu, both American and foreign that we are today, with strong showings from China and Russia.
This chart above gives you a great visual of the diversity of communities in Malibu that have reached the mega sale status of $20 Million and above, running nearly end to end, with the majority of these listings and sales along the beaches.
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