Point Dume and Malibu’s Hottest Real Estate in 2014
Point Dume and Malibu’s hottest Real Estate in 2014. Point Dume was one of Malibu’s hottest real estate markets in 2014, and continues to evolve into one of Malibu’s most sought after address’s. According to the MLS data and public records, there were 23 homes sold on Point Dume last year ranging from $2.4 million to $33.5 million, which is the highest sale I have been able to confirm on Point Dume to date (the old Johnny Carson Estate on White Sands Place was rumored to have sold for over $40 million years ago). See Homes Sold On Point Dume in 2014
The lowest sale for a single family home of $2.4 million was a redone bank foreclosure on a flag lot. It was nicely remodeled but had a shared driveway, a small lot, a view that looked over the neighbors roof to see ocean, and virtually no yard, but it did have a beach key. The second lowest sale was $2.6 Million for a very basic, small approx 1500 sf single family home, on about an acre, with a beach key. The neighboring property sold for $2.625.000, was listed as 1808 sf and reportedly had violations on it for illegal construction. As a home owner on Point Dume, which I am, you have got to love seeing data like this. In 2006/2007 homes were at similar levels in our neighbor hood for comparable properties, and while most of Malibu has not yet regained its historical high water mark, according to the data from last year, Point Dume has done just that, and feels poised to break new ground this year. Supply and demand would dictate rising prices levels on the bottom end of the market as there are no vacant lots for sale any longer, and very few single family homes listed under $3 million at the moment.
On the high end we have an amazing home on the bluff of Cliffside Drive which sold for $33,500,000 and seemed worth it. It was similar to having your own private Ritz Carlton mini resort. There were other great sales too: $14 Million; $13.3 M; $7.95 M; $7.5, and some good sales in the $5 and $4 million ranges. The average sales price for 2014 on Point Dume was $6,182,609, which is also a big number for our neighborhood.
While Malibu as a whole had a great 2014, and is continuing to recover much of the ground it gave up in the recession, I cannot name another market that reached its previous high price levels as a community the way Point Dume did.
Point Dume is an amazing place to live. It has incredible beaches, large family neighborhoods, great schools, good restaurants, and is in a great central location in Malibu. We live on Point Dume and also have our real estate offices here. If we can help you with any Point Dume Real Estate Questions. Please call or email us. We would be happy to hear from you. firstname.lastname@example.org 310457-Mark(6275)