Normal is the new normal as Malibu real estate sales in 2016 had their fifth year in a row of virtually the same number of homes selling — about 250. Incredible consistency, in great contrast to most of the past 20 years, has been the hallmark of local home sales since the end of 2011. The precise count last year was 236 units sold in the 90265 ZIP code.
I have been writing real estate articles in the local Malibu newspapers since 1993, and rarely has it been more difficult to predict where the market is going!
Why is that? As you may have read in my articles in recent months, or otherwise interpreted between the lines of my comments, Malibu real estate is rock solid stable. We have never seen anything like it – at least in my 29 years as a REALTOR.