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The Malibu Mid Week Market Update

 

Hello Malibu,

This is the mid-week market update for Oct 4th, 2018 with data provided from the Multiple Listing Service
24 hour market watch.

This information is for Single Family Residence, Condo, Leases and Land for all of Malibu, areas 32 and 33.

1. New Listings – There were 5 total new listings, which breaks down to 2 SFRs and 3 leases.

2. Price decreases – There were 4 total decreases in price, including 2 involved in purchases. One decrease was $210,000 after only 63 days on the market. The other was a $145,000 decrease after only 44 days on the market.

The MLS also shows 2 new leases.

3.  Expired – 1 after having listed for 122 days and reduced by $50,000. from original list price.

4.  Sold – 4 total listings sold.

One SFR sold after 51 days with an agreed upon of $50,000 lower then listing price. One land listing which sold after 427 days on the market, followed by 2 leases.

In today’s market, it is very important to price your house correctly. If you don’t sell in approximately 2 to 3 weeks, the chances are, you missed the market.

You need to ask what the possible reasons are for not selling your property.

Was it priced correctly for the condition, location, view, and style. Is it being marketed correctly?

These are very important questions.

Today’s market is not a “wishful thinking” price game. It is reality based market.

I would be happy to help you determine the correct price to start at and sell it.

Feel free to contact me via email or phone.

e: james@jamesweekley.com

p: 310.401.0901

And this concludes the Mid Week 24hr Market Watch.