Jennifer Aniston, Courtney Cox, Cher, Lady Gaga, Tom Hanks, Johnny Carson, and Steven Spielberg. The list of famous people connected in some way with Malibu goes on and on.
If you want to live next door to a movie star, you're going to have to save your money or come up with a pretty hefty loan. This coastal city has an average home price of $3,009,700, according to June data from Zillow.
If a Malibu home is in your price range, connect with a local realtor to help you save money during the transaction.
Here's what you need to know about Malibu, CA real estate trends.
2019 Real Estate Market Forecast for Malibu
By most reports, Malibu's market is not very hot at the moment. More than 11% of the current listings have dropped in price, and homes are staying on the market an average of 153 days.
Real estate movers and shakers who work out of Malibu don't seem to be worried about the trend. Most say that Malibu still is one of the hottest, most exclusive markets in the country.
Also, more high-end restaurants and retail establishments are making their way to the coast, whereas before the residents had to travel into L.A. for elite-level shopping and dining.
As long as there are affluent people, there will always be a market for homes in Malibu.
When Is the Best Time to Sell a House in Malibu in 2019?
Buying and selling luxury properties is a whole new ballgame compared with the typical real estate industry. Across the country, most real estate agents would tell you that spring and early summer is the best time to sell.
This is certainly the rule in nearby L.A. Researchers recommend that you list your house in June, which means the home will typically sell in July or August. This method usually gives homeowners a 5% greater return than if you are selling another time of year.
Since most report that Malibu is a great family community with excellent public schools, it may be necessary for typical home sellers to put their homes on the market with the intention of selling right before the next school year starts.
However, people who are buying a 10-bedroom, 15-bath home on the Pacific Coast Highway for $45 million probably don't pay too much attention to the month when making an offer on a house. Your real estate agent can help you decide if it's better to list or wait depending on your specific property.
When Is the Best Time to Buy a House in Malibu in 2019?
In nearby L.A., the best time to buy a house is the autumn and winter. The inventory is up, and prices drop. You may be able to get some good deals later in the year when homeowners become desperate to move.
In the luxury market around Malibu, many homes only receive one or two offers. To receive a great deal on a house in Malibu, you need to know how desperate the seller is to move. This means you need someone in the real estate industry who can give you the scoop on what to offer.
Whether you are buying or selling a luxury home or a more modest residence in Malibu, it is essential that you work with a top-notch agent. To find one of the best agents working in this exclusive area, get connected with a Clever Partner Agent.
If you are selling, our Clever Partner Agents will offer full-service support for only 1% of the homes' sale price, and when you are dealing with luxury real estate, that reduction in commission makes a huge difference.
If the average home in Malibu sells for $3,009,700, a typical listing agent will make $90,291 on the sale of a home. A Clever Partner Agent will sell your home for a $30,097 commission.
If you are desperate to have a Malibu zip code, reach out to one of the Clever Partner Agents who will help you find a house within your price range. When you work with one of these agents, you could qualify for a Home Buyer Rebate program.