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Q2 2011 Malibu Homes Sold vs. Q2 2012

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Malibu Luxury Real Estate Reports Q2 2012 Malibu home sales vs Q2 2011: Malibu Luxury Real Estate researched the Malibu real estate market from data available on the MLS to compare the performance of Malibu homes for sale that closed escrow in Q2 2012 versus Q2 2011. Malibu Luxury Real Estate looked at 3 key factors of the Malibu real estate sales data as Malibu real estate market indicators: 1. Malibu Houses for Sale that Closed in each time period: Q1 2011: Of all Malibu homes for sale, 50 Malibu homes for sale closed escrow. Q2 2012: Of all the Malibu homes for sale, 66 Malibu homes for sale closed. This represents an increase of 32% of Malibu homes for sale that closed escrow. 2. Average Days on the Market it took for each Malibu house for sale to close (DOM): Q1 2011: Of all the Malibu houses for sale, the Malibu houses for sale that closed did so in an average of 203 DOM. Q2 2012: Of all the Malibu houses for sale, the Malibu houses for sale that closed did so in an average of 124 DOM. This represents a 38.9% quicker sales cycle for Malibu houses for sale to close in Q2 2012 over Q2 2011. 3. Median Price points for the Malibu houses for sale: Q1 2011: The median price that the Malibu houses for sale sold for was $1.665M Q2 2012: The median price that a Malibu house for sale sold for was $1.866M representing a 12% increase in the median price point achieved amongst all the Manhattan Beach homes for sale. In summary, Malibu Luxury Real Estate believes this is positive news for the recovery of the Malibu real estate market. The increase of Malibu houses for sale closing increasing by 32% is statistically significant and the lower number of DOM by over 38.9% are both very strong compelling statistics that Malibu home buyers are back in the market in force. The perception of bottom in the Malibu real estate market is now prevalent. However, there are still 254 Malibu homes for sale on the market. Compare this statistic to a market like Manhattan Beach where there are only 72 homes currently on the market and in the last quarter 118 homes sold in that market versus 66 homes sold in Malibu with 254 Malibu homes for sale still on the market. The Malibu real estate market still has a good amount of inventory on its hands and although the market is heating up significantly, there are still some great buys amongst the 254 Malibu homes for sale as some sellers have to sell and are still competing with a good amount of other Malibu home sellers. Interest rates being at historically all time lows also is feeding demand for Malibu houses for sale. If you are interested in a free valuation of your Malibu home in today’s hot Malibu real estate market, or in finding the best possible Malibu home for sale to purchase, please contact Mitch Hagerman, Malibu Luxury Real Estate broker at 310-963-4358. Please also visit our website at www.MalibuLuxuryRealEstate.com posted: July 13, 2012 - Malibu Luxury Real Estate - Blog
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