POINT DUME END of 2020 MARKET ANALYSIS
On the beach key streets there were 11 sales. 6 of these were private ( pocket) sales. Average sold cost per sq ft was $2555. Average sold price was $7,206, 372.
There was also 1 bluff sale.
On the non beach key streets , there were Six houses sold. Average cost per sq ft=$1369 Average sold price= $4,497,000
On the Point Dume condo front, this was a strong year driven by low inventory and strong demand. There were four condo sales, plus several pocket sales. The avg sales price went up substantially.
Analysis: This was another exceptional year for the Point Dume market. There was very strong demand, driven by people who wanted to escape to Malibu during COVID from in town, across the country and the globe There were some record sales. The demand for our neighborhood remains very strong, especially the beach key streets and it will continue due to low interest rates, friends of people who make a home here and a limited supply/ strong demand. People just keep coming out here to buy. Our rate of appreciation is on par with any neighborhood in Malibu if not the highest! Point Dume Strong!
Please call me with any more specific questions. I will not break down each individual Point Dume micro market as a lot of this information is proprietary. So I would ask that if buyers or sellers want more specific information to contact me at 310 916 6053. I also have information on pocket listings.
Life at Point Dume
As a long time Point Dume homeowner, a life long Malibu resident and a real estate broker with over 30 years experience in the Malibu market, I view the strong interest in the Point Dume area from some different lenses.
First of all, I love living in Point Dume. Between the community and the Point Dume beach, there is no better neighborhood in Malibu for my family. From the great surfing and pristine coves, to the California distinguished elementary school and local park; and the incredible sense of community. My wife and I love raising our kids here. We would walk them to school in the morning or take our dogs to the beach where often there is not a soul around and sometimes I have to pinch myself and wonder if I’m still in LA.
For these same reasons, I see many of my clients drawn to Point Dume beach and it has made this area one of, if not the strongest sectors in Malibu. What many of my clients are surprised to discover however, is that there are many micro real estate markets within Point Dume beach: Homes with deeded beach rights; Homes on cul de sac streets. There are homes on the bluff that command the highest dollars and where you will principally find your ocean views. But not always. There are unexpected ocean views and incredible mountain views from many properties which often surprise my clients and are just as captivating.
Within these various micro markets is a wide range of real estate that is available. The fixer ranch homes; larger homes that may need updating, as well as brand new turn key homes or recently remodeled homes. For an area like Point Dume beach with so many nuances and neighborhood variables, I am not a fan of online real estate valuation sites like Zillow, Trulia etc.. Computer data algorithms cannot take the place of first hand knowledge. It may work well in a housing tract where many homes are similar but not here where the dynamics differ greatly house to house and street to street.
For the purpose of this blog, I will not break down each individual micro market as a lot of this information is proprietary. So I would ask that if buyers or sellers want more specific information to contact me at 310 916 6053. I also have information on private sales which I have not utilized in my overall year to year assessments but which would not tilt the metrics greatly.
As I mentioned previously, if you are a seller or a buyer and want detailed information as it pertains to a specific street, style of home, size of home, factoring in lot size, view or other variables, please contact me at 310 916 6053.