The Real Deal Los Angeles

Colony Beach in Malibu is most expensive place to buy in LA for 2nd straight year

The median sales price in the celebrity enclave was nearly $11M
December 21, 2018 10:00AM

Late media mogul Jerry Perenchio and Malibu’s Colony Beach (Credit: Flickr and Getty Images)

The most expensive neighborhood to buy a home in Los Angeles in 2018 was… wait for it… Malibu’s Colony Beach, for the second straight year.

Who would have thought that a beachfront neighborhood with direct access to the Pacific Ocean and more celebrities than you could shake a piece of driftwood at would be the most expensive place to buy a home in L.A.?

The median sale price in the beachfront celebrity enclave was $10.65 million, an 11 percent drop from 2017, but just enough to beat out Beverly Hills Gateway, where the median price rose 31 percent to $10.05 million, according to the Los Angeles Times.

Two other Beverly Hills neighborhoods followed them — Trousdale Estates and Beverly Hills Flats, where the median sales prices were $8.54 million and $7.5 million, respectively.

Another five Malibu nabes and Santa Monica’s north of Montana Avenue area rounded out the top 10 most expensive in L.A.

Colony Beach is a small gated community near Malibu Lagoon where tiny lots sell for big prices. Notable trades in the neighborhood this year include the $14 million sale of late media mogul Jerry Perenchio’s home there.

Celebrity residents include actors Edward Norton, Jim Carrey, and Leonardo DiCaprio. [LAT] – Dennis Lynch