Malibu Snapshot
The Malibu market is an interesting one. In 2018 Malibu lost over 400 homes in the Woolsey fire. Hundreds of families needed to relocate and most had insurance money to do so. As a result, we saw rental and sale prices skyrocket immediately following the fire.
In the midst of the recovery, Covid 19 hit. During Covid, people began to realize the value of working from home. There was a high demand for outdoor space and home offices, which Malibu had plenty of. This further increased the price of Malibu real estate - leading to an unprecedented increase of the median home price by 37 percent during 2020. Malibu real estate hit unimaginable heights in 2020 and in the beginning of 2021. During the second half of 2021, we’re seeing a slower market - one more comparable to previous years. The chart below compares the number of sales on the oceanside of Malibu in 2020 and 2021. You see that the beginning of 2021 the sales had a higher volume than 2020, but in the second half we’re seeing a slower market.
I grew up in Malibu and personally I love the beaches, the small coffee shops and restaurants only the locals seem to know about, and the overall relaxed atmosphere. Malibu locals seem to exude a calm cool confidence. Malibu real estate is generally divided into landside and waterside properties, but we can go further to break it down. Some of the popular areas to live are Point Dume, Broad Beach, Malibu Road, Serra Retreat, among others.
Point Dume: Point Dume is certainly a hot spot in Malibu. Residents enjoy the ocean front living without the noise and traffic of PCH. It’s not unusual to see a celebrity at Lily’s or taking their golf cart to one of the three private, gated beaches.
Broad Beach: Broad Beach is a one mile stretch of beach with 108 homes. The natural beauty is outstanding - rocks, sandy beaches, and a bright blue ocean. The residents have the benefit of being off of PCH, down on Broad Beach Road and on a few adjacent streets.
Malibu Road: Malibu Road is a luxurious street with about 250 homes just off of The Malibu Colony Plaza and Cross Creek. Very centrally located, Malibu Road is a very desirable neighborhood. Keep in mind that there are some geological issues in the area so it is important to do your due diligence when purchasing a property, your agent should know who to call to get the insight into each lot.
Serra Retreat: Serra Retreat is a private, gated community filled with beautiful trees, winding roads, and stunning views. Within walking or biking distance to downtown Malibu, residents enjoy space and outstanding architecture.
As a Malibu resident for 20 years, I can attest that it’s a fantastic place to live and to raise a family. If you see a neighborhood that I haven’t mentioned, message me and I’ll give you a complimentary breakdown!