Explore properties and housing market trends in the Malibu area.
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The Malibu housing market in California is currently characterized as not very competitive, with notable price changes. Homes in Malibu typically sell within an average of 73 days. In May 2023, the median sale price of homes in Malibu was $1,740,000, reflecting a significant decrease of 61.5% compared to the previous year. Additionally, the median sale price per square foot in Malibu is $905, showing a decline of 51.8% since last year. The housing market in Malibu has experienced a substantial decline in median home prices, with a notable 61.5% decrease compared to the previous year. Homes in this area typically spend an average of 73 days on the market, indicating a slower sales pace than 43 days during the last year. The number of homes sold in May this year was 13, representing a significant decrease of 51.9% compared to last year. The recent data suggests that the Malibu housing market has undergone a significant correction, with a sharp decline in median prices. The market could be more competitive, and homes typically sell within 71 days. It's important to note that multiple offers are rare in this market.
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Malibu offers a diverse range of homes, including beachfront estates, modern mansions, Mediterranean villas, cozy beach houses, and contemporary architectural marvels. You can find single-family homes, condos, townhouses, and sprawling estates, catering to various preferences and budgets.
The cost of homes in Malibu varies widely based on factors such as location, size, amenities, and proximity to the beach. On average, single-family homes can range from a few million dollars to tens of millions of dollars, while beachfront properties and luxury estates can exceed the hundred-million-dollar mark.
Malibu has several desirable neighborhoods, including Broad Beach, Malibu Colony, Point Dume, Carbon Beach, and Serra Retreat. These areas are popular due to their proximity to the beach, stunning ocean views, and exclusive atmosphere. Each neighborhood offers a unique living experience, attracting different types of residents.
Yes, Malibu has some historical homes, especially in areas like Malibu Colony. Some properties have been preserved and renovated to maintain their historical charm, reflecting the rich heritage of the area. These homes often blend classic architecture with modern amenities.
Property taxes in Malibu are based on the assessed value of the property and can vary. Homeowner association fees, applicable mainly to properties within gated communities or specific neighborhoods, can cover amenities, security, and communal maintenance. These fees vary based on the services provided by each association.
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Real Estate Agent & Realtor Serving Malibu
One of the nation’s top real estate agents, Sandro Dazzan serves as Managing Partner of The Agency Malibu office. Having closed over $1 billion in sales throughout his career, he ranked as the Number 19 agent in the country and Number 9 in California in the 2020 REAL Trends Inc. and Wall Street Journal ranking with more than $176 million in sales in 2019. He also represented the buyer and seller in Malibu’s highest sale of 2020 (as of August) for $34.2 million. Previous career highlights include closing Malibu’s highest residential sale in 2011 and the highest land sale in history. His rapid path to success caught the attention of Forbes, which featured him on its prestigious “30 Under 30” list.
One of those rare individuals who can say he was born and raised in Malibu, among the most coveted addresses on earth, Sandro watched his mother’s real estate business flourish from a young age. After obtaining his bachelor’s degree in economics from UCLA in 2005, Sandro made a decision that would change the course of his career, passing up an opportunity to work as an investment banker at Morgan Stanley to join the family business of the real estate. Today, Sandro finds great fulfillment in helping buyers and sellers reach their real estate goals in the city he is proud to call home. Known for his intimate local knowledge, easygoing nature, and a strong grasp of technology, Sandro is a skilled negotiator and natural networker, constantly meeting new people in and around Malibu, which often leads to new listing opportunities. Sandro’s clients directly benefit from his level of involvement in, and passion for, the Malibu community, along with his ever-expanding professional network.
When he’s not touring real estate with his clients, Sandro takes advantage of Malibu’s beautiful weather every chance he gets, whether fitting in a morning surf session or hiking in the Malibu canyons. A yoga enthusiast, he remains steadfast in leading a balanced lifestyle, preferring to leave his stress on the mat. These activities are all points of connection for his clients, who see Malibu as the ultimate escape on the coast.
An animal lover, Sandro is actively involved with the Humane Society. He was treasurer of the Malibu Association of REALTORS for ten years and served on the board of directors for The MLS for five years.
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Sandro’s clients directly benefit from his level of involvement and passion for the Malibu Community, along with his ever-expanding professional network.