Malibu Times has published an article discussing the state of the local Real Estate Market.

The results are mixed as at present Malibu is on track for likely less than 100 sales this year and inventory is standing at around 270 homes.

Values are around 2004 levels with the median price now at around $2.25 Million. At present 10 homes have sold in the $4 million plus range. However in that same price range there are around 100 homes listed for sale.

In the condominium sector through to the month of May there were 14 condo sales. Although as mentioned at the end of last year, Condos could represent a great future investment – read out blog post here.

Naturally with a fall in the median price and some difficulties in obtaining financing, the lower end of the Malibu market is getting the most buyer attention as buyers are looking to get a great deal on their dream home. However there is of course interest from prospective buyers all over the nation and internationally – particularly buyers from overseas who are looking for a Malibu trophy property.

These statistics shall be watched with interest as the busy summer season progresses.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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