Just like that, Summer is drawing to a close. Kids are going back to school and the air is feeling a little bit cooler. So what has happened so far this year off of the beach in Malibu?
The further you get from the beach and the higher the price, the longer a listing typically takes to sell. Of the 117 homes on the land-side of Malibu that have sold this year, the average days on market is 93 days. Of the sold homes, the average list price was $3.6 million and the average sold price is $3.4 million. What does this all mean? For one, the market is still active, especially in the lower end of the spectrum. However, the average list price of sold homes demonstrates that sales in the higher end are few and far between.
At the moment (August, 2018), there are only 6 homes over the $5 million price located off of the beach that are in escrow, while 64 other listings in this price range on the Malibu land side remain active. This illustrates the fierce competition that sellers in Malibu must face. The seller and their real estate agents have their work cut out for them. Particularly with the availability of information and constant digital exposure buyers are faced with, making a property stand out among the clutter can be both daunting and challenging.
Our team has a wealth of experience in selling homes off of the beach, and we combat the difficulties of this market in several ways. For one, we try to price homes correctly from the beginning so that if it comes down to a reduction, it is not a drastic one. Second, we make sure that we have stunning visuals, both photography and video, that accurately depict the property and highlight its features. This is the foundation of our marketing efforts. We strive for perfection as these visuals predict how a new listing will be received.
We also leverage social media. Using Instagram and Facebook, we reach thousands of potential buyers with both organic and paid content all over the country based on a listing’s individual viewership. In addition to this, we are proud to have stellar organic SEO. However, why not attract more potential buyers? We work with Google to ensure that our listings are seen on relevant searches worldwide. Finally, using Compass’s innovative network tool, we put our listings on the desk of real estate agents all over California who have similar past sales, listings, and buyer demographics.
These are just a few of the ways we market homes. Selling luxury real estate is what we do, and whether it is on the beach or up in the hills of Malibu, our team finds a way. Every property is different, and our full-service approach allows for every listing to get the attention that it deserves.
If you have any questions or would like to learn more, please contact
The Mark & Grether Group at 310.230.5771 or email us at russellandtony@compass.com
