Sales Activity:
Malibu saw 15 sales in October, a 32% decrease from September 2024 and 35% decrease from October 2023.
Year-to-date (YTD) sales totaled 230, a 3% increase compared to the same period last year.
Median Sale Price:
October’s median sale price was $2,935,000, which is the same as October 2023 but a 37% decrease from September 2024.
The YTD median sale price increased by 15%, rising from $3,032,500 in 2023 to $3,500,000 in 2024.
Sales Volume:
YTD sales volume reached $1,444,358,405, a 6% decrease from $1,538,147,590 in 2023.
Days on Market:
The average days on market for 2024 is 93 days, a 50% increase from 2023’s 62 days.
Summary:
Malibu's real estate market in October saw a slowdown in sales activity, with a 32% drop from September and 35% compared to last year, despite year-to-date (YTD) sales increasing by 3%. The median sale price for October was steady year-over-year but fell sharply by 37% from September, while the YTD median price rose 15%. However, total YTD sales volume dipped 6%, and homes took significantly longer to sell, with an average of 93 days on the market, a 50% increase from 2023.
