The Real Deal Los Angeles

Malibu Colony, LA County’s most expensive neighborhood, has a $16M median sale price

It is just shy of being two times more pricey than Trousdale
August 10, 2017 01:00PM

Malibu Colony Beach now is the most expensive neighborhood according to data over the past six months (credit: Getty Images)

Miley Cyrus may not be the only one thinking the sky is more blue in Malibu. Lately, both the famous and the affluent have been swarming into the city as sale prices reach new heights.

In the first half of 2017, Malibu Colony Beach had a median sale price of over $15.7 million, making it the most expensive neighborhood in Los Angeles County, according to a new report by Property Shark. The second-priciest neighborhood on the list, Beverly Hills’ tony Trousdale Estates, did not come close to competing, at $8.5 million.

Malibu is having a record-breaking year. An $85 million deal in May broke the record as the city’s priciest-ever sale, topping the $75 million sale of billionaire Howard Marks’ Carbon Beach home in 2013. Malibu had six sales in the first four months of 2017 that clocked in higher than the priciest sales in 2016, according to broker Sandro Dazzan of Coldwell Banker Residential Brokerage.

Beverly Hills and Malibu made multiple appearances on the list of top 10 priciest neighborhoods. The area North of Montana in Santa Monica clocked in at No. 7, with a meidan sales price of $7.7 million. Bradbury ranked No. 8 at $4.3 million.

The City of Los Angeles didn’t make the top 10 lost, but its 12 neighborhoods rank in the top 50. [PSN] – Naiwen Tian