Malibu Real Estate Market Report

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Malibu Real Estate

Property Sales

September property sales were 14, down from 20 in September of 2016 and -36.4% lower than the 22 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 137 are running equal to last year’s year-to-date sales of 137.

Prices

The median sales price in September was $2,420,893, down -15.9% from $2,879,750 in September of 2016 and down -27.2% from $3,323,625 last month. The average sales price in September was $2,671,478, down -8.5% from $2,920,600 in September of 2016 and down -34.0% from $4,045,057 last month. September 2017 ASP was at a mid range compared to September of 2016 and 2015.

Inventory & MSI

The total inventory of properties available for sale as of September was 160, up 1.3% from 158 last month and down -7.5% from 173 in September of last year. September 2017 Inventory was at the lowest level compared to September of 2016 and 2015.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2017 MSI of 11.4 months was at a mid range compared with September of 2016 and 2015.

Market Time

The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for September was 70, down from 98 days last month and down from 159 days in September of last year. The September 2017 DOM was at a mid range compared with September of 2016 and 2015.

Selling Price Per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The September 2017 selling price per square foot of $915 was down -23.4% from $1,195 last month and down -2.1% from $935 in September of last year.

Selling Price vs Listing Price

The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The September 2017 selling price vs list price of 89.3% was down from 92.3% last month and up from 88.5% in September of last year.

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in September 2017 was 36, up 24.1% from 29 last month and up 33.3% from 27 in September of last year.

 

 

© 2017 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.. DRE # 00616212

Based on information from California Real Estate Technology Services, Inc. for the period 1/1/2005 through 9/30/2017. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.