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🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

By Christophe Choo Posted Jul 03, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu Beach, CA 🌟

🔻 Avg Sales Price: $8.62 million, 📉 down 55%

🔼 Avg List Price $18.31 million, 📈 UP 7%

🔻 Properties Sold 2, 📉 down 25%

🔼 Days on Market: 43 📆, 📈 UP 118%

🔻 $/Sq FT: $2,330, 📉 down 26%

Unlock the hidden wealth in your Malibu Beach property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Venice? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!

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Welcome to our May 2024 luxury real estate market update for Malibu Beach, the epitome of the coastal Southern California lifestyle. Malibu Beach is renowned for its exclusive beachfront homes offering privacy, elegance, and unparalleled ocean views right on the water. This area remains one of the most desirable and prestigious locations in all of Los Angeles. Let's dive into the latest market trends and statistics for Malibu Beach.

Market Overview

In May 2024, the average sales price for homes in Malibu Beach saw a significant drop of 55%, bringing it down to $8.62 million. Despite this decrease, the average list price increased by 7%, reaching $18.31 million. This discrepancy suggests that while sellers are optimistic, buyers are driving harder bargains.

Properties Sold and Market Time

Only two properties were sold in Malibu Beach in May, a decline of 25% from previous months. The days on market have surged by 118%, now averaging 43 days. This extended selling period is typical for Malibu, as many homeowners use their properties as weekend retreats or seasonal getaways, which can lengthen the selling process.

Price Per Square Foot

The average price per square foot in Malibu Beach stands at $2,330, down 26% from earlier this year. Despite this drop, the price per square foot remains one of the highest on the West Side, typically ranging between $2,400 and $2,600. This premium price point reflects the unique appeal and exclusivity of Malibu Beach real estate.

Why Choose Malibu Beach?

Malibu Beach offers a lifestyle unlike any other, characterized by stunning Pacific coastline views, luxurious beachfront homes, and a serene, private environment. It’s a popular destination for snowbirds from Canada, Chicago, and the East Coast who seek refuge from harsh winters. Whether it's a permanent residence or a holiday home, owning a piece of Malibu Beach means investing in a prestigious and highly sought-after location.

Unlock Your Property’s Potential

Curious about the hidden wealth in your Malibu Beach property? Wondering about your home equity or thinking of buying in this iconic neighborhood? Our team of expert real estate agents is here to provide you with the insights you need. Contact us at 📱 310-777-6342 or send us a DM for personalized advice and market analysis.

Bottom Line

Malibu Beach continues to be a premier real estate market despite fluctuations in sales prices and market activity. Whether you're looking to buy or sell, understanding the current trends and leveraging expert insights is crucial. Connect with a reliable real estate agent to navigate this unique market and make informed decisions.

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