2020 has turned our world upside down. A global pandemic, widespread civil unrest, skyrocketing unemployment, and economic uncertainty have been making headlines for over a year.
The way that we live in America has also changed. For countless decades, we have followed industry, entertainment, and community into cities. Then, COVID happened.
Our new normal became wearing masks, social distancing, working from home, taking out food, and staying home. The allure of cities quickly began to diminish and there was a noticeable exit from cities across the country. Being adjacent to Los Angeles, Malibu became a premier choice for those looking to relocate, and for good reasons.
Here is why Malibu is the best relocation option in this new landscape.
Work From Home
Offices and boardroom meetings have quickly been replaced by Zoom calls. Big companies are canceling their office leases across the country and though we are on the precipice of the COVID vaccine, this is not going to change.
As reported by Forbes, 23% of people would like to continue working exclusively from home indefinitely. Another 50% said they would like to have a combination of working from home and an office. Just 25% reported that they would like to be back in an office full time.
Commercial leases represent one of the largest operating costs for companies both large and small. With the large majority of employees being willing to continue working for home at least part-time, work from home is here to stay. Having an environment conducive to work is now a crucial consideration for most homebuyers.
Who doesn’t want to have ocean or mountain views, great natural light, and maybe even a sun deck to work from? Most of all, peace and quiet. Malibu offers all of these amenities and more.
Stay at Home Orders
California is currently under its second stay at home order in December of 2020.
The first of these in March of 2020 illuminated the importance of home since it was the only place to be. Chief among these revelations is the importance of outdoor space, especially for families. The playground, soccer field, school, and recess all became dependent on the residence.
In addition to our idyllic weather, Malibu is also known for having great outdoor space. Whether it is a small, flat lot in Malibu West or a sprawling, multi-acre property in the Santa Monica Mountains, our indoor/outdoor lifestyle is well suited for these circumstances.
Malibu’s population density is about 648 people per square mile. Compare this with West Hollywood, reported in 2010 to have a population density of 18,225.6. It’s no wonder that Malibu feels like a breath of fresh air.
Natural Resources
Malibu’s slogan is “27 miles of scenic beauty” and it is easy to see why. Beautiful sandy beaches, stunning rock formations with tide pools, surf breaks, and countless trails through the Santa Monica Mountains.
This year, we were tasked with entertaining ourselves. Theaters, parks, and restaurants all closed their doors and we had to get creative. Luckily, in Malibu, that isn’t too difficult.
The backbone trail seamlessly connects every canyon and most trails with beautiful views and seasonal flowers in the spring. Beaches including Zuma, Leo Carillo, and Surfrider offer plenty of room to spread out and enjoy the sunshine.
The communities of Point Dume and Malibu West both enjoy deeded beach rights which make the areas especially desirable and perfect for the family beach experience.
“Can I Afford Malibu?”
The perks of Malibu have always been clear and the hardships we have faced in 2020 have truly shown where Malibu shines. For the average city dweller, the choice is clear. But then comes the all-important question, “can I even afford to live in Malibu?”
Buyers have been asking this for decades. The short answer is – yes!
The average sale price in 2020 for a home on Malibu’s landside was just over $4 million. That said, there have been 37 sold under $2 million! There were even 3 sales below $1 million.
Another great option is mobile homes. These luxury parks located in Paradise Cove and on Point Dume are an excellent alternative to a single-family home. With an average sale price of $932,550, residents enjoy easy beach access and many have ocean views.
Similarly, condominiums and townhomes on Malibu’s landside had an average sale price of $1,054,786. 26 sales were under $1 million and the least expensive sale was sold at $400,000.
2021, The Year to Move to Malibu
With a multitude of reasons and plenty of options, moving to Malibu has never made more sense.
Get in touch with our team to learn more about Malibu’s unique neighborhoods, home pricing, financing options, and what makes this stretch of coastline so special.
Call 310.230.5771 or email russellandtony@compass.com to get started!
