With more inventory than ever, buyers are spending a lot of time simply trying to see all of the listings out there! Currently in Malibu, there are 134 single family homes that are on the market for less than three million dollars. The lowest priced single family home is $539,000! The median price of these homes is $1,995,000. In the last 6 months, 50 homes under 3 million dollars have sold. Interestingly, these homes that sold had an average list price to sell price of .90. In other words, all of the homes that eventually sold were effectively discounted 10% from their originally asking price.

I think that several lessons can be learned from these simple statistics. 1. If you are looking at purchasing property in Malibu or other coastline community, do not be dissuaded by the original prices. Many times depending on the motivation of the seller prices can be negotiated. 2. Homes in Malibu are affordable! More than ever, the prices have come down, the inventory has not been higher in a long time and interest rates are extremely low!

To be on top of the market takes a mental and physical stamina that few agents are up to date on.

Please contact our team if you have any questions regarding market statistics or would like more information on homes that are on the market. We look forward to connecting with you!