The Malibu housing market has been affected just as badly by the recession as anywhere else in America. However, nowhere has this effect been seen so dramatically as in the Malibu condo market. Long seen as an indicator for the Malibu housing market as a whole, the Malibu condo market has seen price drops of over 50 percent in the last two cycles, some of which in prestigious communities, including Malibu Gardens and Malibu Villas.

Consider this: in 2008, only 12 condos in Malibu sold for less than 1 million dollars, whereas in 2010, more than 40 Malibu condos sold for under a million. This demonstrates two very important factors about the condo market. First, many extremely valuable properties are being sold for rock-bottom prices. Secondly, it shows that the market is starting to recover, since so many more condos are being sold.

The combination of the still rock-bottom prices with the recovering market make it a uniquely suitable time for new Malibu condo buyers, but as the market recovers the prices are certainly going to increase as well. So if you have ever considered living the good life in Malibu, then now is the best time to take advantage of the Malibu condo market, before it’s too late.