Is Malibu, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Malibu has remained a Buyer's Market.
Key Takeaway
Malibu is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Malibu, CA
How much do homes in Malibu, CA cost?
Median Sold Price
$3,385,000
$1,359/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Malibu have sold for 16.4% less than they did a year ago.
Summary: The median home sold price in Malibu was $3,385,000 in March 2024, down 16.4% from last year, and the median price per square foot was $1,359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.6M | $1.0M | -35.6% |
| 2 Bedrooms | $2.6M | $1.3M | -46.4% |
| 3 Bedrooms | $2.9M | $3.2M | +10.6% |
| 4 Bedrooms | $5.2M | $3.7M | -29.9% |
| 5+ Bedrooms | $7.5M | $8.0M | +7.8% |
Summary: Malibu housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.6%, 2 bedroom homes decreased by 46.4%, 3 bedroom homes increased by 10.6%, 4 bedroom homes decreased by 29.9%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
| Agoura Hills-Malibu | $1.5M | $1.5M | +4.3% |
| Malibu | $4.0M | $3.3M | -16.4% |
Housing Supply in Malibu, CA
How many homes are available in Malibu, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 207 | 235 | +13.5% |
Summary: The Malibu real estate market had 235 homes for sale in March 2024, a 13.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 29 | 32 | +10.3% |
| 3 Bedrooms | 59 | 69 | +16.9% |
| 4 Bedrooms | 59 | 62 | +5.1% |
| 5+ Bedrooms | 55 | 66 | +20.0% |
Summary: The Malibu housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Malibu, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Malibu in March 2024, down by 11.8% month-over-month. Of the 15 sold homes, 73% were sold under asking, 7% were sold at asking, and 20% were sold over asking.
Days on Market for Malibu, CA
How long does it take to sell a home in Malibu, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 93 Days | +29.9% |
Summary: Homes in Malibu had an average of 93 days on market in Mar 2024, up by 29.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Malibu are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 15 homes were sold in Malibu; 27% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
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