THIS IS DEFINITELY EXCITING NEWS!

According to the Los Angeles Times the housing market has strengthened!

December usually is a slow month for home sales, over the holidays the last thing on anyones mind is buying a home. However, not December 2009 for Southern California, where the median sale price rises 4% over the same period a year earlier, and sales jumped 12.1%! The best since 2006! (See our related post – Malibu Pending Home Sales Rise Again!)

The median price paid for a Southland home rose 4% to $289,000 last month from December 2008. Rebounding home prices could help the Southern California economy recover from its slump, as a stronger housing market could lead to hiring on construction sites and in real estate sales, title and escrow offices.

People are starting to realize that now is the time to move – rates are low and prices are right – if you are outgrowing your existing home or are downsizing, now is the time to make that move! For some, the spring homebuying season may have come early!

Naturally, one factor driving sales is the April 30 expiration of tax credits for home buyers. The role of the federal government in the housing market remains key.

Also excitingly for the luxury market that is Malibu, the percentage of Southern California homes that sold for more than $500,000 rose to 20.2% of all sales in December from 16.5% a year earlier. The market is starting to move significantly, in some cases with multiple offers on properties.

So if you are thinking about a move to Malibu – now is the chance to take advantage of the market and get going!

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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Judy Kunisaki – CA DRE license 00963582

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