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🏡 December 2023 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

🏡 December 2023 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

By Christophe Choo Posted Feb 01, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 December 2023 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

🔼 Avg Sales Price: $16.08 million, 📈 UP 48%

🔻 Avg List Price $16.76 million, 📉 down 16%

🔼 Properties Sold 4, 📈 UP 20%

🔻 Days on Market: 39 📆, 📉 down 52%

🔼 $/Sq FT: $4,788, 📈 UP 21% It’s a hot market!

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Welcome to the sun-kissed shores of Malibu Beach, a name synonymous with luxury and exclusivity in the world of real estate. As we dive into the December 2023 market update, the trends in Malibu Beach are not just about properties; they're about a lifestyle coveted by many, including celebrities like Jay-Z and Beyonce who made headlines with their near $200 million purchase. Malibu Beach, distinct from the Malibu Hills, offers an unparalleled oceanfront living experience that's in a league of its own.

A Surge in the Market

December saw a staggering surge in the average sales price in Malibu Beach, skyrocketing to $16 million, a phenomenal 48% increase. This jump is not just a number; it reflects the growing allure of Malibu Beach as a pinnacle of luxury living. The area's real estate market outshines its neighbors, Santa Monica and Venice, even in the winter months - a testament to its enduring appeal.

The Spotlight on Sales and Market Time

Malibu Beach's market dynamics are intriguing. While the average sales price saw a significant upswing, the average list price experienced a dip to $16.76 million, down by about 16%. Despite this, the number of properties sold in December went up by 20% from the previous cycle. These figures suggest a vibrant market, with properties not just listed but actually changing hands, reinforcing Malibu Beach's status as a sought-after location.

Record-Breaking Price Per Square Foot

Perhaps the most eye-catching trend in Malibu Beach is the price per square foot. At almost $5,000, it's currently the highest on the west side, marking an impressive 21% increase from the previous 90 days. This staggering figure emphasizes the premium attached to living in Malibu Beach, where every square foot of property is a piece of paradise.

Why Malibu Beach?

So, what's driving this surge in Malibu Beach? It's more than just the properties; it's the promise of a lifestyle that's literally on the water. Malibu Beach offers an escape into a world where the ocean is your backyard, and luxury is a way of life. It's a place where the market's vitality is matched only by the waves that kiss its shores.

Wrapping Up

In conclusion, Malibu Beach's real estate market in December 2023 painted a picture of a vibrant, luxurious, and highly sought-after locale. Whether it's the allure of oceanfront living, the prestige of owning a property in one of the most exclusive areas, or the record-breaking market trends, Malibu Beach continues to set the bar high in the world of luxury real estate.

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