This recent seven year period is the only time in history that values in Malibu have not shown distinct increase when laid end to end. During the current year, featuring a moderate increase in values, (perhaps 8-10 percent once the year comes to an end), still leaves us short of the 2008 high water mark.
But we are better off than 10 years ago, and especially 15 years ago. The adjacent chart accounts for every home location in Malibu, and demonstrates how prices are behaving this year compared to the years of 2000, 2005, 2010, 2012, and last year.
With such small samples, of course, any tally during one year is suspect, but the purpose of the chart is to show general trends over time. Condos and mobile homes are excluded, though the performance of each would similarly track these home results.
Sales through November 20 of this year are recorded. The results are based on ongoing collections of information from many sources, primarily the multiple listing service, but also multiple reviews over time of public records on each home in Malibu.
Final sales tallies for Malibu in 2015 will show much similarity to 2014, with a very slight decline in sales numbers, but a slight increase in prices. There is no mistaking the data however, that huge eight-figure sales in Malibu have been paramount. Note that the few sales in Paradise Cove this year have been blockbuster. Carbon Beach continues to command huge prices. One deal only on Encinal Bluffs this year; but it hit the $50 million mark.
Throughout Malibu, as well, there are favorable indicators. Many neighborhoods are establishing higher prices than the past. Malibu West and Malibu Park fit that description, as they have shown robust sales and clearly established improved prices.
Sea View Estates and Malibu Knolls also seem to be in a heyday of recent times. La Costa Hills is doing well. So is Malibu Country Estates.
Beach sales are off slightly this year, but as with bluff-type properties, the prices are pretty good when they sell.
The local real estate rebound of the past three years has taken prices from approximately 2003 levels, where they had regressed to during the 2009-2010 collapse, and inched them forward beyond 2005 to approximately 2006 equivalents, but still short of 2008 heights. Clearly, from the chart, things in 2010 were much worse than five years earlier. Better times have returned, since.