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