According to the MLS in 2012 there was 55Â Malibu CondosÂ that sold. The lowest priced sale was at 6477 Kanan Dume Rd at $325,000. The highest sale was 27420 Pacific Coast Highway, a 4 unit high-end condo development just north of Geoffrey's restaurant, for $4,975,000.Â Another notable sale was a penthouse in the Outrigger, a condo complex on Carbon Beach, a 2B/2b with 1,345 Sq/ft for $2.5 million.
This year the Malibu condo market is on pace to crush 2012 numbers. We are a couple days away from the beginning of June and there has already been 27 condos that have sold in Malibu. The lowest sale thus far was 6485 Kanan Dume Rd at $330,000. The highest sale was at 27420 Pacific Coast Highway for a whopping $6.5 million. This condo was completely remodeled once purchased in 2012 with 3B/3b with 3,959 Sq/ft and a separate guest unit above the garage. The unit has panoramic ocean views with dark french oak flooring and an indoor/outdoor floor plan that effortlessly lends itself to entertaining.
Along with all of the sales so far in 2013, there is also 14 Malibu condos that are pending or looking for back-up status in the MLS (escrow).
The demand is up and inventory is quickly shrinking with only 23 Malibu condos actively being sold on the market. If we continue on in this fashion, 2013 will be a huge rebound year for condos in Malibu. There is no crystal ball for this real estate market, but considering what the numbers have been pointing towards prices for Malibu condos to rise. Now is the time to buy. Â
Best Malibu Beach Condo For Sale
25338 Malibu Rd #1Â - Listed at $2,650,000. This property screams beach living in Malibu with 2B/2b and 1,055 Sq/ft. This fully remodeled Malibu beach condo is located in a 4 unit complex on the coveted Malibu Road in front of a dry sandy part of the beach. Just down the street from restaurants, the market and movie theater at Malibu Country Mart. This is a great way to buy into Malibu Rd without forking over $4-$6 million for a single family home.
Â Listing courtesy of Madison Hilderbrand at Coldwell Banker Malibu ColonyÂ
Best Landside Malibu Condo For Sale
6436 Lunita Rd - Listed at $1,099,000.Â Get ready for prices at this Malibu condo development to skyrocket once the Trancas Market Development is completed. This unit has great ocean views with 2B/2.5b and 1,831 Sq/ft. Located in a gated complex with a community pool/spa and gym, this is a great opportunity to be located right across from Broad Beach and Zuma on the West end of Malibu.Â
Listing courtesy of Meril May at Coldwell Banker Malibu West