Real estate madness makes a hot summer



Malibu Market Madness a year ago continues at the same frantic pace, creating conditions for a hot summer market that shows no signs of cooling. Among the city’s hottest spots? The Malibu Colony, an exclusive gated community of approximately 76 seaside homes, where chances are your neighbor is a top-rated celebrity or a member of the Wall Street elite.

Hilton & Hyland’s Chad Rogersarguably one of the best real estate agents in Malibu, grew up in the Malibu colony. In 20 years of selling Malibu, he has never seen a market like this. “This is madness. I feel like I am riding a tidal wave in real estate. Buyers are eagerly awaiting ads to make offers, ”explains Rogers. Sounds like a perfect wave.

Since the start of the pandemic, property prices in Malibu (specifically, properties in Malibu Beach) south of the Pacific Coast Highway (PCH) have reached $ 30 million and sales have increased tenfold. The Multiple Listing Service data shows current year-on-year activity with 101 sales along the coast. This is 153% more than in June last year.

Here’s what you can buy in the Malibu colony today for $ 25 million or more. This Italian style seafront villa called La Luce della Luna (or Light of the Moon), quoted at $ 25 million… This is a 3,566 square foot home with a rooftop ocean view, open fireplace and endless coastline views.

More than 5,000 square feet, it is “mid-century land”. [to] the “oceanfront complex” is estimated at $ 29 million. The property and its approximately 55-foot coastal beach were recently contracted, according to Rogers, who has a listing.

With customers already queuing up to buy at the Malibu Colony, it looks like this summer will be very busy for Rogers. For those looking for a summer rental in The Colony, expect to pay (if you can find one) over $ 300,000 for July or August. The rental season in Malibu has been extended until autumn and not only last year. “I saw wealthy tenants who did not want to leave [Malibu Colony] become buyers, “Rogers said.

Rogers currently has all the ads in the Malibu Colony. “I am the MLS of the Malibu Colony,” he laughs. One look at Rogers sales from March 2020 confirms this. All six properties are listed, sold or registered as “active contracts,” the latter meaning the sale is pending, have either been listed or sold by a luxury property specialist. On two properties, he represented both the buyer and the seller. In the other four sales, he was either on one side of the deal or on the other.

Who are the buyers spending money on eight-figure properties in Malibu these days? “There are families with apartment buildings who need a place in Malibu. I also see buyers downsizing large houses in Beverly Hills and wanting some peace and quiet in Malibu, ”Rogers said.

A better life in Malibu is what shoppers want will gladly pay multimillion-dollar money to get… From dodging paparazzi over morning beer in Malibu Village on Cross Creek Road to low-calorie dessert at Malibu Yogurt, Malibu is a whole different thing. Celebrities in sweats, no makeup, flip flops or UGG (depending on the season) blend in with more than 12,000 residents of the city. This is a beach without the sheen of Hampton. Of course, PCH has Nobu Malibu restaurant with its share of sushi patrons, from George and Amal Clooney to Angelina Jolie and Leonardo DiCaprio.

Malibu is Malibu and it cannot be reproduced – the index 90265 will always be in demand.

Hilton and Highland is one of the founders Forbes Global Properties, a consumer marketplace and a membership network of elite brokerages selling the world’s most luxurious homes.


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