Malibu Waterfront Real Estate for Sale

Malibu, CA Housing Market Overview

The Malibu housing market has shown a significant upward trend, making it an interesting case for potential buyers and sellers. With a notable increase in the median sale price and a sharp rise in the price per square foot, the dynamics of this luxurious coastal city are worth exploring.

Key Insights:

• Median Sale Price: The median sale price of a home in Malibu has climbed to $4.3M, marking a 13.3% increase since last year. This growth underscores Malibu's enduring appeal and the high value of its real estate market.
• Price Per Square Foot: The median sale price per square foot now stands at $1.89K, which represents a significant jump of 51.0% from the previous year. This increase is indicative of the premium on space in Malibu, reflecting the city's luxury status and scenic locales.
• Market Activity: Despite the not very competitive nature of the market, there has been a noticeable rise in activity. The number of homes sold rose to 13 in February 2024, up 44.4% year-over-year.
• Days on Market: Homes in Malibu are taking longer to sell, with the median days on the market extending to 157, up from 61 days last year. This increase might suggest buyers are taking their time to make decisions in this high-stakes market.