Feb 04 2010
Malibu Sales Last 60 Days
Some plain ol’ number for you all.
If you spend time listening to the doom and gloomers there’s a good chance that you might believe that nothing is going on with the Malibu real estate market. Well, let me say that a lot has been going on. 24 properties have closed in Malibu within the last 60 days. Let’s go over just a few of them so that you won’t be mislead into believing that no one is buying. When is the last time you heard a news report describing all the multi million dollar homes that have sold?
30553 MORNING VIEW DR $14,995,000
31950 1/2 PACIFIC COAST HWY$6,300,000
3600 SWEETWATER CANYON DR $4,300,000
6208 RAMIREZ MESA DR $3,610,000
1771 RAMBLA PACIFICO $2,700,000
5396 HORIZON DR $2,400,000
24507 VANTAGE POINT TER $2,000,000
20721 Big Rock Dr $2,000,000
There was also a few “quite” transactions. One beach house in the $7m’s and a bluff around $17m.
Point Dume Remains one of the most in demand areas. Local architect Doug Burdge has numerous projects on the Point and a back log of people wanting to buy and build on the Point.
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This is great news Michael. I think that information like this is so powerful and you are very knowledgeable!
Thanks Monica.
Michael, true – there is activity, but aren’t you misrepresenting the situation by quoting asking prices instead of the significantly lower true prices those homes sold for and by not mentioning how long the homes have been sitting on the market ?
30553 MORNING VIEW DR $12M not $15M (original asking: $27M)
31950 1/2 PACIFIC COAST HWY $6.3M not $8M
3600 SWEETWATER CANYON DR $4.3M not $4.85M
6208 RAMIREZ MESA DR $3.6M – true
1771 RAMBLA PACIFICO $2.75M not $3M
5396 HORIZON DR $2.4M not $2.5M
24507 VANTAGE POINT TER $2M not $2.2M
20721 Big Rock Dr $2M not $2.2M
Thanks for catching that. It was a mistake and I made the adjustments. I think I was trying to make a point that there is real money out there and there are real buyers managing to close deals without complaining that they couldn’t get a loan. What I’m also hearing right now from some agents with homes above $15m is that there a lot of activity and showings. There will be several closing coming up that I’d consider significant sales. In my opinion the market is not dead, but recovering with some notable, optimistic, sales.