Malibu Beach House Year to Date Sales Review
As of today, according to the MLS, there have been 25 homes sold on the beaches of Malibu year to date. This is for all of Malibu, including: Broad Beach Road, Encinal Bluffs, Sea Level Drive, Cliffside Drive, Birdview Ave, Latigo Beach, Escondido Beach, Carbon Beach, Malibu Cove Colony, Malibu Colony, Malibu Road, and La Coasta Beach. For this analysis we are only looking at homes that were listed for $5 million or more, which is the arbitrary line I drew to designate the high end beach market in Malibu. It is a wide range of sales from $4,750,000 all the way up to $33,500,000. What I found to be most interesting is that the average sales price in this pool was $10 million. That is a very respectable number, and higher than I would have expected. Click here for full CMA Report for Malibu Beach House Year to Date Sales.
So far in 2014 the average time on the market for a beach home to sit on the market from the first day it is listed and put into the MLS, until the official close of Escrow is 235 Days. This is also not a bad number for high end sales, and is very much in line with a healthier market. Combining that average with an average price of $10 million, 2014 has been a healthy year for Malibu Real Estate.