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Los Angeles

Submarket Snapshot: Ultra-luxury homes in Malibu Beach

Richard Landry's house in Malibu (credit: Landry Design Group)
Richard Landry's house in Malibu (credit: Landry Design Group)

Malibu Beach’s luxury market appears to be picking up.

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From March to May 2016, 12 homes sold in the submarket for more than $3 million, according to a report by Sotheby’s International Realty. There were only 8 homes sold in Malibu Beach in the same period last year.

The homes sold for an average price that’s nothing to sneeze at: $9.4 million. The figure clocks in at 72 percent higher than the $5.5 million average in same period last year.

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Submarket Snapshot