This section was compiled from many sources, but the primary source was Rick Wallace of the Malibu Coldwell-Banker office and his periodic column, The Malibu Real Estate Report in the Malibu Times. The Malibu, CA housing market is not very competitive, scoring 18 out of 100. Malibu beachfront property, viewed from the water's edge. It has seven bedrooms and 11 baths. In general, single family residence values increased more than 20 percent during 2003, and roughly doubled during the period 1998 to 2003. Malibu Colony land was originally leased, for $1 per beachfront foot per month. The average sale price per square foot in Malibu is $1.46K, up 3.9% since last year. These multi-million dollar homes are packed closely together along PCH or parallel beach roads wherever private development has been permitted. By the 1950s, a building boom was on and Malibu, like much of the United States, developed rapidly. By June 2000, ten properties in Malibu were at or above the $10 million level. The 15,000 square-foot house sits on a seven-acre private bluff in the gated Paradise Cove community, with panoramic ocean views, a riding ring, swimming pool, tennis court, guard house, and private road to the beach. In 1988, the first off-the-beach sale above $3 million occurred. To verify enrollment eligibility for a property, contact the school directly. In 1948 Alex Newton, Sr. bought an empty acre and a half on Point Dume for $3100. These examples will round out this section. The average sale price of a home in Malibu was $3.47M last month, up 24.5% since last year. In June 2005 the large estate built in 1991 on Sweetwater Mesa overlooking Surfrider Beach and the Malibu Lagoon was listed for sale at $35 million. In 1999, Harrah sold the house for $25 million to Mark Reynolds Hughes, the founder and CEO of Herbalife International, Inc. On Malibu Road, three properties sold for $6 million, $7 million and $13 million. The purchase price was a record for Malibu at the time. In the Spanish period at the beginning of Malibu, during 1805, Jose Bartolome Tapia received the land for free, as a grant from the Spanish King, in gratitude for his military service. The Malibu housing market is not very competitive. Sales indicate that the median value on Point Dume has soared above $3.5 million. Also in 2000, the median house value in Malibu exceeded $1 million for the first time. After Hughes died unexpectedly in May 2000, the house went on sale again, this time for $31 million, exquisite fixtures and furnishings included. School service boundaries are intended to be used as reference only. May Rindge formed the Marblehead Land Co. to further subdivide Malibu and sold off large plots to individuals and developers in the late 1930s and 1940s. After Hughes died unexpectedly in May 2000, the house went on sale again, this time for $31 million, exquisite fixtures and furnishings included. Joanna Poitier, the wife of actor Sidney Poitier, was responsible for the interior design of the seven-bedroom house. For example, Corral Canyon, Latigo Canyon and Malibu West now regularly see sales at $1.5 million or more. Further out, the increases were similar, but on a smaller base. That is not strictly true since there have been periods of stagnation or mild decline and overextended developers go bankrupt in Malibu just like anywhere else. The seven-acre property has an 18,000-square-foot, Mediterranean-style villa with 300 feet of private beach. While a few exceptional homes in Malibu always carried staggering price tags, it was not until the late 1980s when a robust California real estate market first pushed Malibu prices above $1 million in many areas, even off-the-beach. A home in Encinal Bluffs, at 33064 Pacific Coast Highway, was built by movie producer Verna Harrah, widow of the casino developer William F. Harrah. The La Costa subdivision and the Malibu Colony were the first opportunities for "outsiders" to have Malibu real estate, although the Decker family and other homesteaders did hold property in what is now Malibu, but outside of the Rindge ranch. In September 2005, a property in Paradise Cove went on sale for $65 million, probably the highest priced listing in Malibu up to that time. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. How times have changed! Such bargain-basement prices were typical of Malibu then since it was considered too far from Los Angeles and not very classy. The combination of the magnificent ocean views, the beach lifestyle, and the magic name Malibu, keeps prices moving always higher. Zillow has 362 homes for sale in Malibu CA. Driven by low interest rates and a low inventory of homes for sale, prices continued to increase during 2004-2005. In 1857, Tapia's heir sold his interest in the 13,300 acre Rancho Topanga Malibu Sequit to Don Mateo Keller for about ten cents per acre, the first recorded cash sale. The purchase price was a record for Malibu at the time. Many units sold for double that ($600,000) by the end of 2005. Even in December 1958, an ad in the Malibu Times advertised a two-bedroom home near the Malibu Colony for $29,500. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. In general, you can say Malibu real estate only goes in one direction: up. But the record of appreciation overall is still remarkable. In the Spanish period at the beginning of Malibu. The typical 30 foot wide lot was $30 per month on a ten year lease. Thirty-five years later, the modern development of Malibu began in 1892 when Frederick Rindge bought Rancho Topanga Malibu Sequit from Keller for a then fabulous price of $10 per acre, already a 100-fold increase in value. And in 1972, the Malibu Canyon Village condos opened with units available for $30,000. As an index of the growth, it took 30 years (1972-2002) for the Malibu Canyon Village condos to go from their original value of about $30,000 to over $300,000, a ten-fold increase. By 1997, home sales above $10 million began to be seen, with the first on Encinal Bluffs. 323 Homes For Sale in Malibu, CA. The Rindge family operated Rancho Malibu as a single holding until financial pressures caused May Rindge, Fredrick Rindge's widow, to start to lease, then sell, land in the 1920s. The sections on Development & Diversification in the History pages of MalibuComplete.com have more details on these periods. Zillow has 186 homes for sale in Malibu CA matching Beach House. Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. A few exceptional properties in Malibu are among the highest priced homes in the world. Three sales on Malibu Cove Colony were in the $7 million range. Return to Malibu Real Estate or up one more level to MalibuComplete.com Home Page. The average Malibu house price was $3.47M last month, up 24.5% since last year. In the fall of 2005, sales on Broad Beach included three properties at $13 million, $17 million and $22 million. Homes sell for about 4% below list price and go pending in around 108 days. The compound has a gate house (an average-sized home itself) overlooking the tennis court, and the grounds full of gardens and fountains. On La Costa Beach, the highest sale in 2004 was $5 million, but a number of sales above $6 million took place in 2005, along with sales above $3 million in La Costa landside. The nearest neighbor was a half-mile away. Hot Homes can sell for around list price and go pending in around 43 days. The mansion sits on 16 acres of central Malibu land and features a 5,000 square-foot master bedroom among its six bedrooms and eight bathrooms. In June 2005 the large estate built in 1991 on Sweetwater Mesa overlooking Surfrider Beach and the Malibu Lagoon was listed for sale at $35 million.
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