Malibu luxury real estate is highly sought after, because of its stunning views and lavish homes. It is home to some of Hollywood’s top celebrities, so Malibu homes are often high in price. Many think owning property in Malibu is not practical. After observing past and current market trends, 2018 is looking to be the strongest year for Malibu luxury real estate yet. I can help make your dream of owning a luxurious home in Malibu a reality.
Malibu Luxury Real Estate is Stronger Than Ever
Understanding the past and current market trends is imperative if you are interested in obtaining real estate. After reading about how the market has changed over the past few years, it will be obvious 2018 is the year to act. It’s currently stronger than it has ever been and that means several things that will help buyers and sellers.
2016 and before
Historically,2017 saw the highest median price single family residences in LA County. And the same held true for Malibu in 2017. Looking at the records from 2009 to now, the amount of time that a typical home stayed on the market has kept getting shorter and shorter. It’s expected to keep this upward trend, which means the market is getting more and more competitive. Applying this knowledge to your decision, make a competitive offer to not risk losing your dream home!
2017 showed us the strongest median price on record for Malibu beach houses and Malibu landside houses. Since Malibu real estate is known for it’s high prices, this indicates a rise in lower priced homes for sale. Make sure to think about which type of house is the best choice for your lifestyle and your budget. When people think of Malibu luxury real estate, they usually think of enormous residences, but Malibu offers many different sizes of homes. With my help, you can find a perfect fit of a home that you love.
2018 and beyond
Beginning 2018 with a strong economy, the real estate market is looking up. There has been job growth in California, which means that more people are looking to buy homes. As more people realize these trends, the market will continue to get more competitive. Looking at the trends of the last few years, prices are predicted to rise overall, but at a slower rate. With interest rates on an uptick and expected to continue to rise, now is a great time to buy.
As it is important to look at past trends to predict what will happen in the future, what is also important is to apply the knowledge. Malibu luxury real estate is at its peak right now and it’s time to buy! Prices are lower than the last few years and the market is hot. If you are interested in finding the luxury home of your dreams in the stunning city of Malibu, contact me, Matt Rapf. I am a Malibu local and I have been in this business for years, so trust me when I say that you want to act now.