—Malibu real estate – Thus far, Year to Date there have been 18 Coldwell Banker previews homes that have sold this year with three of these sales over 5 Million. Compared to last year there were 35 Previews homes sold with 10 homes over $5 Million. Currently there is a huge amount of inventory in Malibu. Buyers have a great selection of inventory and sellers are becoming more confident that listing their home going into the summer is a good strategy. Currently in Malibu there are 230 Previews homes for sale.
—Brentwood: Right now the inventory is Brentwood for listings is down than the prior year. In 2010 YTD there were 75 listings yet 2011 YTD there are 59 listings as of the end of April.
—Bel Air – Year to Date: There are 35 active Previews listings, 20 over $10 million; 12 escrows have closed between $1.5 and 19 million, 3 over $ 10 million which is less than last year
—Beverly Hills – Year to Date: There have been 26 Previews sales this year VS 24 (YTD) last year ; Their average purchase price is down 10%, (but remember that is a skewed number); Their average price per square foot is
Right around $1000.00/sq.ft.
—Santa Monica Year to Date: Santa Monica They have 84 active listings in all price ranges; 33 active Previews listings/8 in escrow. They are UP in volume over 2010: $57 million solds year to date last year VS $84 million this year. Unlike Malibu, they have approximately 2.3 months of unsold inventory.
Coldwell Banker Previews Statistics:
–January and February of 2011 were substantially below those same two months in 2010
-Although March and April have shown an uptick, the following are the statistics in the high end, year to date:
2010 year to date $5 million+ , there were 56 solds VS 37 solds in 2011
2010 year to date $10million+, there were 18 solds VS 11 solds in 2011
2010 year to date $20 million +, there was 1 sold VS 2 solds year to date in 2011
Malibu Real Estate Russell Grether of Compass Real Estate is a real estate agent based out of Malibu, California. He specializes in the listing and selling of coastline properties from Montecito to Malibu. To learn more about his unparalleled commitment to service, contact him today at 310.994.4247.
