Malibu, California: Steady number of sales, but decrease in median sale price

In this PropertyShark study that was first covered in the Los Angeles Times, we see that the number of sold homes remained steady in Malibu for 2009 (148 sold homes*) when compared to 2008 (145 sold homes). However, it’s still a significant drop from the peak years in 2005 (275 sold homes) and 2007 (240 sold homes). The median sale price dropped from $2,660,000 in 2007 and $2,700,000 in 2008 to $1,800,000.

Among the most expensive homes sold in 2009 were a $17.5 million sale for a duplex at 20018 Sea Lane Drive, a $16.5 million sale at 6483 Zumirez Drive, and a $14.6 million sale for 28830 Cliffside Drive. 28830 Cliffside Drive was originally put up for sale in 2007 by Michael and Lisa Weithorn for $19,250,000, reports the Real Estalker in a June 2007 article. Property records show the buyer of the estate to be Carl Daikeler.

For a visual presentation of the homes sold  we have put together an interactive map that plots every home sold in 2009. Click on a point of interest for sale price and sale date, as well as links to additional details on the sold property.


Note: for the purpose of this report we have defined sold homes as single-family residences & duplexes.