ENGEL & VÖLKERS Market Report Malibu 2018 • Quarter 4
Table of Contents Malibu: Overview 2-3
Malibu - SFR Over $10 Million 16
Broad Beach 4
Malibu - SFR Over $15 Million 17
Carbon Beach 5 Malibu Colony 6 Serra Retreat 7 Encinal Bluffs 8 Point Dume 9 Malibu - Single Family Residences 10-11 Malibu - Condominiums 12 Malibu - SFR $1 Million to $3 Million 13 Malibu - SFR $3 Million to $5 Million 14 Malibu - SFR $5 Million to $10 Million 15
1
Malibu
The City of Malibu has 21 miles of scenic coastline, and according to the 2017 U.S. Census, has 12,877 residents. It is a closely-knit residential community known for its beautiful beaches and Hollywood and entertainment industry homeowners. Most of the residents of Malibu live in close proximity to the Pacific Coast Highway, which runs along the coast, as well as up a mile into the narrow canyons, which are just as much a part of the city of Malibu as the beach-front homes. Topanga Canyon runs along the east of the city and along the north are the Santa Monica Mountains, which border Agoura Hills, Calabasas and Woodland Hills. The Pacific Ocean is to the south and Ventura County lies to the west. Malibu is home to Pepperdine University, as well as some of the most expensive properties in Los Angeles County. Residents and visitors enjoy Malibu for the variety of landscapes it offers, including beaches, mesas and canyons. The museums, parks, and landmarks ensure a vibrant arts and entertainment culture. The Chumash Indians were the first inhabitants of Malibu, who called the stretch of beach where the waters enter Malibu Creek, “umaliwo”, which translates to “the surf sounds loudly.” In 1542, Spanish explorer Juan Rodríguez Cabrillo first took note of the Chumash village on the site where the Malibu city offices stand today. In 1802, a 13,000 acre land grant was purchased by Spanish settler Jose Bartoleme Tapia who established Rancho Topanga Malibu Semi Sequit. The property passed from generation to generation until it was purchased by Frederick Hastings Rindge, a wealthy New Englander who guarded the privacy of the property, even to the point of building a private railroad as a way to keep the Pacific Railroad from building through the property.
2
Malibu
In 1929, the State of California finally won the right to build the Pacific Coast Highway through the property. Also by this time, the widow of Frederick Hastings, May Rindge, conceded to subdividing the property for sale and lease in lots. The Rindge house, also known as the Adamson house, sits near the Malibu Pier as part of the Malibu Creek State Park. Opposite the lagoon is where the first colony in the area was settled. And a half mile east of the pier is the site of what was formerly known as Malibu Potteries, a small ceramic tile factory that produced the highly collectible Malibu tile used in the design of many Los Angeles area buildings and homes in Beverly Hills. Malibu continued to develop as an unincorporated area of Los Angeles County until 1991 when it officially became a city and was given the authority of local governance. Malibu homes are located within several communities, the most notable of which are: Broad Beach, Carbon Beach, Malibu Colony, Encinal Bluffs, Serra Retreat, and Point Dume. Although many people live in Malibu year round, the city also has many part-time residents who own property as second and third homes. Prices for single family homes in Malibu can range anywhere from $700,000 for a small home tucked in the mountains, to well over $30 million for an oceanfront home in one of its exclusive neighborhoods. In 2018, Malibu was heavily affected by the Woolsey fire, one of the most destructive wildfires in California history. The number of homes lost is said to surpass the total recorded for previous blazes with more than 400 single family homes destroyed, equaling a market value of around $1.6 billion.
3
Broad Beach
Extending along the Malibu coastline for about a 1.1 mile stretch is the Broad Beach neighborhood. Broad Beach is one of the most expensive and exclusive neighborhoods in Malibu and is home to many celebrities and entertainment executives. There are 108 beach-front homes in this neighborhood, most of them located on Broad Beach Road, which used to be part of the original Pacific Coast Highway (PCH) before it was relocated to the bluff above. Broad Beach runs parallel to PCH and extends to Victoria Point on its western end and to Trancas Canyon Road on the east. Home prices on Broad Beach range anywhere from approximately $3 million to well over $20 million.
4
Carbon Beach
Carbon Beach is another one of Malibu’s most exclusive neighborhoods and also home to many celebrities and some of the most affluent individuals in Los Angeles County. It extends from Carbon Canyon Road on the east to the area just east of the Malibu Pier. The area encompasses approximately a mile and a half of coastline, and the quality of the beach is one of the finest in Malibu, and the entire state of California. There are just over 70 residences in this neighborhood and they constitute some of the most expensive estates in Malibu, ranging anywhere from approximately $7 million to well over $50 million. The newest record holder is an architectural compound that sold for $110 million - the highest sale in all of Los Angeles County. The seller was identified as Hard Rock Cafe/Hotel founder Peter Morton and the buyer was oil and gas mogul Michael Smith and his wife, Iris. The couple owns multiple million-dollar homes throughout the US and their most recent purchase in Malibu matched the purchase price of their vacation home in the Hamptons.
5
Malibu Colony
Malibu Colony is located south of Malibu Road, off Pacific Coast Highway. Homes in this neighborhood range from classic bungalows to impressive mansions. Access to the community is guarded by a gate house and there is 24-hour patrol to ensure privacy for its residents. Home prices in the Malibu Colony can range anywhere from approximately $3.5 million to well over $10 million. The highest sale in 2018 in this community was the off-market sale of the beach-front property 25040 Pacific Coast Highway, which was traded for $85,000,000 in September 2018. This home was purchased by billionaire Daryl Katz, Canadian businessman with ties to the entertainement, sports and pharmaceutical industry. He is also the owner of the NHL team, the Edmonton Oilers.
6
Serra Retreat
Serra Retreat is one of the few equestrian communities in Los Angeles County. Serra Retreat consists of approximately 96 lots ranging from under half an acre of land to around four acres. A few exceptions are over four acres. Most lots are improved with single family homes, which range from traditional ranch styles to impressive equestrian estates. Entry to the community is guarded by two guarded drives, one off Pacific Coast Highway and another one on Cross Creek Road. Home prices in Serra Retreat can range anywhere from approximately $3.5 million to over $12 million. The most notable transaction in Serra Retreat in 2018 was 3426 Serra Road which was purchased for $10 million.
7
Encinal Bluffs
Located west of Broad Beach and El Matador State Beach, just south of the Charmlee Wilderness Park, Encinal Bluffs is one of the most exclusive neighborhoods in Southern California. The area stretches on Pacific Coast Highway, with addresses in the 32000 to 33000 range. The very first sale over $10 million in Malibu occurred in the Encinal Bluffs in the late nineties. The most notable transaction in 2018 in this neighborhood was the sale of model Cindy Crawford and tequila entrepreneur Randy Gerber’s compound. The couple bought the 3+ acre estate and an adjacent parcel of about 2.75 acres in 2015 for a total of $50.5 million. They sold only one of the estates in June for $45 million.
8
Point Dume
Point Dume is a promontory on the coast of Malibu that juts out into the Pacific Ocean. The point, a long bluff, forms the northern end of the Santa Monica Bay. Point Dume Headlands Park affords a vista of the Palos Verdes Peninsula and Santa Catalina Island. Zuma Beach lies to its immediate northwest. Up until the 1940s, Point Dume was a windblown, treeless bluff covered by native chaparral. Post World War II, the bluff became slowly settled by independent-minded folks, who planted trees and other non-native flora among their single-family homesteads. By 2007, many of the simple homesteads were torn down to make way for mansions and gated estates. Many of the Point Dume estates offer amazing ocean views while others are surrounded by beautiful landscapes. The biggest sale in 2018 in Point Dume was a home on Cliffside Drive which sold for $20 million.
9
Malibu - Single Family Residences The most notable transaction in Malibu in 2018 was the record-breaking sale of an architectural compound that sold for $110 million in June - it is the highest sale ever in all of Los Angeles County. The seller was identified as Hard Rock Cafe/Hotel founder Peter Morton and the buyer was oil and gas mogul Michael Smith and his wife, Iris. The sale was brokered off-market and is not reflected in the charts of this market report. There were a total of 34 single family home sales in Malibu in the fourth quarter of 2018. Average price per square foot equaled $1,486, an increase of 22.8% year over year. The average and median sales prices experienced an increase of 21.7% and 23.5%, respectively, to $4,891,433 and $3,118,750 from the same quarter in 2017. The combined annual average growth in sales prices over the last ten years in Malibu equals approximately 9.1%.
Q4-2018 Average Sales Price Average Price per SF Median Sale Price Number of Sales Days on the Market Sale Price to Listing Price % New Listings Year-to-Date Average Sales Price Average Price per SF Median Sale Price Number of Sales
Malibu Single Family - Q4 2018 Q4-18 $4,891,433 $1,468 $3,118,750 34 187 94.2% 105 2018 $4,633,400 $1,405 $3,155,000 211
Malibu Single Family - 10 Year Performance Number Average of Sales Sales Price
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
10
139 161 162 248 240 225 222 227 218 211 CAAG
$2,995,075 $2,909,352 $2,716,388 $3,107,460 $3,064,807 $3,806,193 $3,672,648 $4,207,291 $4,584,196 $4,633,400 5.0%
Price/SF $827 $871 $812 $885 $896 $1,084 $1,078 $1,265 $1,311 $1,405
% Median Change Sales Price N/A 5.2% -6.7% 8.9% 1.3% 21.1% -0.5% 17.3% 3.7% 7.1%
$1,900,000 $1,850,000 $1,855,000 $2,000,000 $2,100,000 $2,475,000 $2,523,500 $2,870,000 $3,100,000 $3,155,000
YoY% 21.7% 22.8% 23.5% -30.6% 52.0% 0.1% 2.9% YoY% 1.1% 7.2% 1.8% -3.2%
Q4-17 $4,019,830 $1,196 $2,525,000 49 123 94.1% 102 2017 $4,584,196 $1,311 $3,100,000 218
QoQ% 31.0% 15.7% 11.6% -46.9% 88.9% 9.0% -26.1%
Q3-18 $3,734,891 $1,269 $2,794,625 64 99 86.4% 142
Malibu Single Family 10 YEAR VOLUME, AVERAGE AND MEDIAN SALES PRICE $5,000,000
250
$4,500,000
225
$4,000,000 $3,500,000 $3,000,000 $2,500,000
200 175 150
$2,000,000
125
$1,500,000
100
Average Sales Price Median Sales Price Number of Sales
Malibu - Single Family Residences In 2018, there were four homes sold under $1 million equaling 1% of all sales. Forty-four percent (44.0%) of homes sold were in the $1 to $3 million range with an average sales price of $2,119,882, while twenty-eight percent (28.0%) were in the $3 to $5 million range with an average sales price of $3,768,611. Eighteen (18.0%) of all homes sold were in the $5 to $10 million range with an average sales price of $7,279,166, and nine percent (9.0%) were over $10 million. These numbers do not reflect off-market sales.
Malibu Single Family - Average Sales Price Distribution <$1 Million
$1-$3 Million
$3-$5 Million
$5-$10 Million
> $10 Million
2015
4%
58%
18%
13%
7%
2016
5%
50%
21%
15%
9%
2017
1%
47%
23%
20%
9%
2018
1%
44%
28%
18%
9%
Malibu - Ultra Luxury Home Sales 2018 Address
22258 & 22310 Pacific Coast Hwy 25040 Pacific Coast Hwy 26880 Pacific Coast Hwy 33218 Pacific Coast Hwy 22506 Pacific Coast Hwy 3657 Cross Creek 23660 Malibu Colony Rd 28868 Cliffside Dr 22160 Pacific Coast Hwy 23746 Malibu Rd 6625 Zumirez Dr 27777 Winding Way 27234 Pacific Coast Hwy 28724 Grayfox Street 31038 Broad Beach Rd 23530 Malibu Colony Rd 22028 Pacific Coast Hwy 31504 Victoria Point Rd 21830 Pacific Coast Hwy 31685 Sea Level Dr 23410 Malibu Colony Rd 25006 Malibu Rd 6744 Zumirez Dr 24450 Malibu Rd 21660 Pacific Coast Hwy 33616 Pacific Coast Hwy 6254 Porterdale Dr 3426 Serra Rd
11
Sale Price
Price/SF
$110,000,000 $85,000,000 $48,750,000 $45,000,000 $38,000,000 $30,000,000 $25,395,000 $20,000,000 $18,700,000 $17,500,000 $16,500,000 $15,907,000 $15,000,000 $14,012,000 $13,656,000 $12,650,000 $12,500,000 $12,050,000 $11,750,000 $11,400,000 $11,000,000 $11,000,000 $10,768,570 $10,500,000 $10,251,500 $10,000,000 $10,000,000 $10,000,000
N/A N/A N/A $8,565 N/A N/A N/A $8,798 $4,633 N/A N/A 1,569 $2,459 N/A $1,835 $3,424 $4,621 $2,346 $2,813 N/A $4,005 $3,328 $4,553 $3,736 N/A $1,291 $1,127 N/A
Beds Baths
3 6 3 4 7 7 4 3 4 4 4 5 5 3 5 4 4 4 4 3 4 4 3 3 3 5 6 4
4 7 6 6 8 11 5 3 5 5 5 8 6 5 5 4 4 6 5 3 4 4 3 3 5 9 8 3
Living Area (SF)
2,316 9,000 4,062 5,254 N/A 13,842 6,067 2,273 4,036 N/A 5,826 10,135 6,100 N/A 7,443 3,695 2,705 5,136 4,177 4,611 2,746 3,305 2,365 2,810 2,844 7,744 8,868 3,819
Lot Size (SF)
Neighborhood
8,989 231,739 63,193 138,621 30,492 177,289 9,538 44,018 10,086 11,741 64,628 104,687 15,772 61,232 12,816 6,986 7,688 11,014 10,150 6,098 7,552 8,166 59,177 5,836 6,637 28,553 151,441 55,292
Carbon Beach Malibu Colony Malibu Colony Encinal Bluffs
Carbon Beach Malibu Colony Malibu Colony Point Dume Carbon Beach Malibu Road Point Dume Escondido Beach Escondido Beach Point Dume Broad Beach Malibu Colony Carbon Beach Broad Beach Carbon Beach Encinal Bluffs Malibu Colony Malibu Road Point Dume Malibu Road Carbon Beach Encinal Bluffs Escondido Beach Serra Retreat
Year Sold
2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018
Malibu - Condominiums Although Malibu primarily offers a wide range of single family homes, there are also condominium units located mostly east (or north) of Pacific Coast Highway. There were 10 condominium sales in Malibu in the fourth quarter of 2018. The average sales price decreased by 1.6% to $1,274,483 while the median sale price increased by 10.6%, to $1,197,000, from the same period of time in 2017. The average price per square foot increased by 2.1% to $916, year over year. The highest demand for condominiums is for two-bedroom units. The size of two-bedroom condos ranges anywhere from 900 sf to over 2,000 sf. The average sales price was $1,232,370 with an average size of 1,341 sf. Three-bedroom units are between 1,300 sf to just under 3,000 sf for a large townhome. On average, they sold for $1,518,796 with an average living size of 1,903 sf.
Malibu - Condominiums - 2018 Bedroom 1 2 3
Number of Average Sales Sqft 6 33 18
Malibu Condominiums - Q4 2018
Q4-2018 Average Sales Price Average Price per SF Median Sale Price Number of Sales Days on the Market Sale Price to Listing Price % New Listings Year-to-Date Average Sales Price Average Price per SF Median Sale Price Number of Sales
Q4-18 $1,274,483 $916 $1,197,000 10 72 97.8% 35
2018 $1,317,290 $960 $1,210,000 57
Malibu Condominiums - 10 Year Performance
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
12
Number of Sales 34 53 56 55 60 62 74 56 64 57 CAAG
Average Sales Price $1,007,093 $749,442 $713,030 $685,547 $912,132 $976,353 $954,752 $1,307,582 $1,077,603 $1,317,290 5.5%
Price/SF $689 $547 $532 $505 $630 $727 $700 $813 $807 $960
% Median Change Sales Price -25.8% $885,000 -20.6% $535,000 -2.8% $492,500 -5.1% $575,000 24.9% $775,000 15.3% $827,500 -3.7% $765,000 16.2% $917,500 -0.7% $1,000,000 18.9% $1,210,000
YoY% -1.6% 2.1% 10.6% -50.0% -22.6% 1.7% 34.6% YoY% 22.2% 18.9% 21.0% -10.9%
Q4-17 $1,295,295 $897 $1,082,500 20 93 96.2% 26
Average Average Sales Price Price/Sqft
687 $179,833 1,341 $1,232,370 1,903 $1,518,796
QoQ% -5.0% -21.2% -3.3% -84.4% -27.3% 13.2% -75.4%
$1,776 $896 $799
Q3-18 $1,342,166 $1,162 $1,238,287 64 99 86.4% 142
2017 $1,077,603 $807 $1,000,000 64 M alibu Condominiums 10 YEAR VOLUM E, AVERAGE AND M EDIAN SALES PRICE
$1,600,000
80
$1,400,000 $1,200,000
60 Average Sales Price
$1,000,000 $800,000
40
$600,000 $400,000
20
Median Sales Price Number of Sales
Malibu - SFR $1 Million to $3 Million There were 15 homes sold in the $1 million to $3 million range in Malibu in the fourth quarter of 2018. Average and median sales prices grew by 6.2% and 1.9%, respectively, to $2,119,882 and $2,025,000 from the same quarter last year. The average price per square foot increased by 39.6% year over year to $1,144.
Malibu Single Family $1-$3 Million - Q4 2018
Q4-2018 Average Sales Price Average Price per SF Median Sale Price Number of Sales Days on the Market Sale Price to Listing Price % New Listings Year-to-Date Average Sales Price Average Price per SF Median Sale Price Number of Sales
Q4-18 $2,119,882 $1,144 $2,025,000 15 158 94.1% 33 2018 $2,110,344 $954 $2,168,750 92
Malibu Million -- 10 10 Year YearPerformance Performance MalibuSingle Single Family Family $1-$3 Million Number Average % Median Number Average % Median of Sales Sales Price Price/SF Change Sales Price Sales Price Price/SF Change Price 2009 of Sales 75 $1,850,418 $613 -8.5% Sales $1,800,000 2009 75 $1,850,418 $613 N/A $1,800,000 2010 94 $1,891,842 $598 -2.5% $1,780,894 2010 94 $1,891,842 $598 -2.5% $1,780,894 2011 97 $1,767,180 $637 6.6% $1,625,000 2011 97 $1,767,180 $637 6.6% $1,625,000 2012 122 $1,790,738 $549 -13.9% $1,751,500 2012 122 $1,790,738 $549 -13.9% $1,751,500 2013 147 $1,841,409 $621 13.2% $1,825,000 2013 147 $1,841,409 $621 13.2% $1,825,000 2014 115 $1,955,315 $700 12.7% $1,950,000 2014 115 $1,955,315 $700 12.7% $1,950,000 2015 130 $2,014,303 $776 10.8% $2,000,000 2015 130 $2,014,303 $776 10.8% $2,000,000 2016 113 $2,054,247 $2,054,247 $852 9.8% $2,030,000 $2,030,000 2016 113 $852 9.8% 2017 103 $2,031,336 $822 -3.5% $2,025,000 2017 103 $2,031,336 $822 -3.5% $2,025,000 2018 92 $2,110,344 $954 16.0% $2,168,750 $2,168,750 2018 92 $2,110,344 $954 16.0%
13
YoY% 6.2% 39.6% 1.9% -46.4% 19.7% -0.1% -5.7% YoY% 3.9% 16.0% 7.1% -10.7%
Q4-17 $1,996,202 $819 $1,987,500 28 132 94.2% 35 2017 $2,031,336 $822 $2,025,000 103
QoQ% 1.7% 12.5% -5.8% -54.5% 54.9% 0.0% -43.1%
Q3-18 $2,084,380 $1,017 $2,150,000 33 102 94.1% 58
Malibu Single Family $1-$3 Million 10 YEAR VOLUME, AVERAGE AND MEDIAN SALES PRICE $2,250,000 $2,000,000 $1,750,000
160 140 120 100
$1,500,000 $1,250,000 $1,000,000
80 60 40
Average Sales Price Median Sales Price Number of Sales
Malibu - SFR $3 Million to $5 Million There were 9 homes sold in the $3 million to $5 million range in the fourth quarter of 2018. While the average sales price decreased slightly by 0.3% to $3,768,611 year over year, the median sales price increased by 9.5% to $3,995,000. The average price per square foot for homes in this price range, however, grew by 37.2% to $1,265 from the same period last year.
Malibu Single Family $3-$5 Million - Q4 2018
Q4-2018 Average Sales Price Average Price per SF Median Sale Price Number of Sales Days on the Market Sale Price to Listing Price % New Listings Year-to-Date Average Sales Price Average Price per SF Median Sale Price Number of Sales
Q4-18 $3,768,611 $1,265 $3,995,000 9 157 95.9% 27 2018 $3,802,546 $1,222 $3,697,887 58
Malibu Single Family $3-$5 Million - 10 Year Performance
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
14
Number of Sales 15 22 22 38 38 47 39 48 50 58
Average Sales Price $4,309,000 $3,798,114 $3,868,182 $3,765,832 $3,878,246 $3,898,846 $3,860,060 $3,753,571 $3,748,611 $3,802,546
Price/SF $794 $963 $795 $886 $909 $934 $1,073 $1,119 $1,190 $1,222
% Change N/A 21.2% -17.4% 11.3% 2.7% 2.7% 14.8% 4.3% 6.3% 2.7%
Median Sales Price $4,500,000 $3,726,500 $3,900,000 $3,687,053 $3,835,000 $3,815,000 $3,758,000 $3,737,500 $3,762,500 $3,697,887
YoY% -0.3% 37.2% 9.5% 12.5% 31.9% 1.7% 12.5% YoY% 1.4% 2.7% -1.7% 16.0%
Q4-17 $3,781,625 $922 $3,650,000 8 119 94.3% 24 2017 $3,748,611 $1,190 $3,762,500 50
QoQ% -6.9% 21.4% -4.9% -47.1% 70.7% 27.4% -12.9%
Q3-18 $4,047,647 $1,042 $4,200,000 17 92 75.3% 31
M alibu Single Family $3-$5 M illion 10 YEAR VOLUM E, AVERAGE AND M EDIAN SALES PRICE $4,750,000 $4,500,000
60 55 50
$4,250,000
45
$4,000,000
40
$3,750,000
30
$3,500,000 $3,250,000 $3,000,000
35 25 20 15 10
Average Sales Price Median Sales Price Number of Sales
Malibu - SFR $5 Million to $10 Million There were 6 sales in the $5 million to $10 million range in the fourth quarter of 2018. Average and median sales prices recorded increases of 8.5% and 8.7%, respectively, to $7,279,166 and $7,390,000 year over year. The average price per square foot for homes in this price range also experienced an increase of 1.7% to $2,178 year over year.
Malibu Single Family $5-$10 Million - Q4 2018
Q4-2018 Q4-18 Average Sales Price $7,279,166 Average Price per SF $2,178 Median Sale Price $7,390,000 Number of Sales 6 Days on the Market 197 Sale Price to Listing Price % 94.1% New Listings 27 Year-to-Date 2018 Average Sales Price $6,560,826 Average Price per SF $1,825
YoY% 8.5% 1.7% 8.7% -45.5% 85.8% -1.4% 8.0% YoY% -6.4% -10.9%
Q4-17 $6,711,363 $2,143 $6,800,000 11 106 95.4% 25 2017 $7,010,926 $2,049
Median Sale Price
$6,125,000
-11.9%
$6,950,000
Number of Sales
38
-11.6%
43
Malibu Single Family $5-$10 Million - 10 Year Performance 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
15
Number of Sales 11 7 18 38 23 31 28 35 43 38
Average % Median Sales Price Price/SF Change Sales Price $6,942,273 $1,420 N/A $6,837,500 $6,741,143 $1,764 24.3% $6,300,000 $7,279,417 $1,146 -35.1% $6,996,250 $6,448,000 $1,779 55.3% $6,367,500 $6,485,467 $1,304 -26.7% $5,950,000 $6,948,044 $1,527 17.0% $7,010,000 $7,024,071 $2,038 33.5% $6,825,000 $7,079,571 $2,016 -1.1% $6,950,000 $7,010,926 $2,049 1.6% $6,950,000 $6,560,826 $1,825 -10.9% $6,125,000
QoQ% 7.1% 15.9% 5.6% -33.3% 82.4% 3.9% -28.9%
Q3-18 $6,797,975 $1,880 $7,000,000 9 108 90.5% 38
M alibu Single Family $5-$10 M illion 10 YEAR VOLUM E, AVERAGE AND M EDIAN SALES PRICE $7,500,000
45
$7,250,000
40
$7,000,000 $6,750,000 $6,500,000 $6,250,000
35 30 25 20 15
$6,000,000
10
$5,750,000
5
Average Sales Price Median Sales Price Number of Sales
Malibu - SFR Over $10 Million There were 4 sales in the $10 million to $20 million range in the fourth quarter of 2018. The average sales price increased by 9.5% to $14,229,500 and the median sales price grew by 6.4% to $13,834,000. However, the average price per square foot decreased by 14.7% to $2,324, year over year. There were 8 sales over $20 million, one of which was the off-market trade of the $110 million compound, mentioned earlier in the report. The second highest sale this quarter was the sale of Cindy Crawford and Randy Gerber’s estate on the Encinal Bluffs, which sold for $45 million.
Malibu Single Family $10-$20 Million - Q4 2018
Q4-2018 Average Sales Price Average Price per SF Median Sale Price Number of Sales Days on the Market Sale Price to Listing Price % New Listings Year-to-Date Average Sales Price Average Price per SF Median Sale Price Number of Sales
Q4-18 $14,229,500 $2,324 $13,834,000 4 352 93.3% 7 2018 $12,937,098 $2,982 $12,275,000 16
YoY% 9.5% -14.7% 6.4% 300.0% 375.7% -3.1% -30.0% YoY% -3.2% 9.2% -3.7% 14.3%
Malibu Single Family $10-$20 Million - 10 Year Preformance
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
16
Number of Sales 9 9 3 3 11 9 14 19 14 16
Average Sales Price Price/SF $12,982,721 $1,725 $12,887,649 $2,474 $12,112,667 $2,880 $11,508,333 $1,518 $13,709,773 $2,800 $12,905,556 $2,260 $12,644,411 $2,264 $13,603,466 $3,687 $13,369,646 $2,731 $12,937,098 $2,982
% Change N/A 43.4% 16.4% -47.3% 84.4% -19.3% 0.2% 62.8% -25.9% 9.2%
Median Sales Price $12,000,000 $11,750,000 $12,000,000 $11,300,000 $14,450,000 $13,300,000 $11,000,000 $12,995,000 $12,750,000 $12,275,000
Q4-17 $13,000,000 $2,724 $13,000,000 1 74 96.3% 10 2017 $13,369,646 $2,731 $12,750,000 14
QoQ% 11.1% -33.2% 9.4% 33.3% 395.8% 3.0% -36.4%
Q3-18 $12,806,190 $3,479 $12,650,000 3 71 90.6% 11
Malinu $10-$20 Million 10 YEAR VOLUME, AVERAGE AND MEDIAN SALES PRICE $15,000,000
20 18
$14,000,000
16 14
$13,000,000
12 10
$12,000,000 $11,000,000
Median Sales Price
6
Number of Sales
4 2
$10,000,000
Average Sales Price
8
0
Malibu - SFR Over $15 Million Malibu - Ultra Luxury Home Sales 2017 - 2018 Price/SF
Beds
Baths
Living Area (SF)
Lot Size (SF)
22258 & 22310 Pacific Coast Hwy$110,000,000
N/A
3
4
2,316
8,989
Carbon Beach
2018
25040 Pacific Coast Hwy
$85,000,000
N/A
6
7
9,000
231,739
Malibu Colony
2018
26880 Pacific Coast Hwy
$48,750,000
N/A
3
6
4,062
63,193
Malibu Colony
2018
33218 Pacific Coast Hwy
$45,000,000
$8,565
4
6
5,254
138,621
Encinal Bluffs
2018
22506 Pacific Coast Hwy
$38,000,000
N/A
7
8
N/A
30,492
Carbon Beach
2018
3657 Cross Creek
$30,000,000
N/A
7
11
13,842
177,289
Malibu Colony
2018
23660 Malibu Colony Rd
$25,395,000
N/A
4
5
6,067
9,538
Malibu Colony
2018
28868 Cliffside Dr
$20,000,000
$8,798
3
3
2,273
44,018
Point Dume
2018
22160 Pacific Coast Hwy
$18,700,000
$4,633
4
5
4,036
10,086
Carbon Beach
2018
23746 Malibu Rd
$17,500,000
N/A
4
5
N/A
11,741
Malibu Road
2018
6625 Zumirez Dr
$16,500,000
N/A
4
5
5,826
64,628
Point Dume
2018
27777 Winding Way
$15,907,000
1,569
5
8
10,135
104,687
Escondido Beach
2018
27234 Pacific Coast Hwy
$15,000,000
$2,459
5
6
6,100
15,772
Malibu Beach
2018
N/A
N/A
N/A
N/A
N/A
Carbon Beach
2017
$69,900,000
$4,662
6
8
14,995
685,634
Serra Retreat
2017
22466-22500 Pacific Coast Highway $48,000,000
$6,229
5
7
7,706
33,801
Carbon Beach
2017
Address
Sale Price
22108-22126 Pacific Coast Highway $85,000,000 3620 Sweetwater Mesa Road
Neighborhood Year Sold
27808 Pacific Coast Highway
$38,500,000
N/A
5
5
N/A
120,992
Escondido Beach
2017
31250 Broad Beach Road
$24,150,950
$2,116
6
10
11,413
63,621
Broad Beach
2017
24860 Pacific Coast Highway
$24,000,000
$2,400
7
9
10,000
70,973
Malibu Colony
2017
29208 Cliffside Drive
$23,000,000
$2,997
7
7.5
7,674
56,367
Point Dume
2017
29060 Cliffside Drive
$21,000,000
$3,439
4
5
6,107
37,530
Point Dume
2017
11846 Ellice Street
$20,000,000
$2,076
7
11
9,636
43,582
Yerba Buena
2017
33360 Pacific Coast Highway
$20,000,000
$4,314
4
4
4,636
26,748
Encinal Bluffs
2017
23762 Malibu Road
$20,000,000
$4,319
3
4
4,631
13,010
Malibu Colony
2017
23438 Malibu Colony Road
$18,000,000
$2,838
5
6
6,343
10,679
Malibu Colony
2017
28116 Pacific Coast Highway
$16,500,000
$4,066
5
3
4,058
54,780
Paradise Cove
2017
28868 Cliffside Road
$16,000,000
$7,039
3
3.5
2,273
44,018
Point Dume
2017
11786 Ellice Street
$15,850,000
$2,200
5
7
7,204
43,627
Yerba Buena
2017
23936 Malibu Road
$15,725,000
$2,714
5
4.5
5,793
14,237
Malibu Colony
2017
6992 Whitesands Place
$15,000,000
N/A
4
3
N/A
44,867
Point Dume
2017
17
Published by: Engel & VĂślkers Santa Monica 1123 Montana Avenue Santa Monica, CA 90403 DRE# 01911544 Office +1-310-460-2525 Fax +1-310-576-2424 www.SantaMonica.EVUSA.com Disclaimer Based on information from the Association of REALTORSÂŽ/Multiple Listing as of 1/27/2019. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. This is not intended as a solicitation if your property is currently listed with another broker.