As a follow up to my blog on the Point Dume Real State Market, another micro market within our real estate community is the Point Dume Malibu condo market. Clients are always asking me about condos in Point Dume Malibu. People cannot fathom the rapid appreciation that this sector of the market has undergone in the last five years.
Why buy a condo at Point Dume Malibu?
Little Dume Beach
The bottom line is the beach rights to Little Dume. If you don’t want to spend upwards of three or four million dollars now ( entry level these days) for a home with beach rights to Little Dume, the condos represent your best opportunity to get the beach rights. In the last 6 months four of these great investments have sold, two off market and two MLS sales. The prices have ranged between $950,000-$1,235,000. Many people rent these units, which makes demand for these rentals high. The rental market here has outperformed other condo areas of Malibu.
Point Dume Malibu Condos Location
All of the condos are conveniently located by the Point Dume Plaza in Malibu. People in this condos are able to walk to the market or any of the shops, stores or places to eat. In researching the sales between 2012 to the present time, the rate of appreciation in the Point Dume Malibu condo market has neared 50%. 2017 saw the highest ever sale, which was was an off market deal. People have gotten wise to the investment potential here.
Who are the buyers for these units and who lives there?
A wide variety of people.
At Point Dume Malibu, you can find:
- People live on non beach key streets and want the key
- Other residents include people who live in town and want to come and enjoy the beach
- Buyers got smart and bought houses decades ago
- Investors who know that these units will only keep going up.
- People who grew up in Point Dume Malibu and love their community.
Whoever it is, the common denominator is the beach key and the Point Dume Malibu community.
There are five different condo ” complexes” that have beach rights and each have their distinctive set of values. If you are a seller or a buyer and want specific information on a a particular condo complex or historical sales data, please contact me. I will be happy to break it down for you and give you information on condo pocket listings.
Phone: 310 916 6053