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February 24, 2018

Malibu: King of Luxury Listings

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Malibu: King of Luxury Listings

Malibu boasted the highest number of $10 million listings in November year-over-year, helping it to become the “world’s mansion capital,” according to Coldwell Banker data.  

“With a huge boom in sales in the fourth quarter, fueled in part by the fiscal cliff, Malibu is in the running to have the highest sales total in the $10-million-plus category for all of 2012,” CNBC.com reports. 

In 2012, there were 11 sales of $10 million homes. In the final days of the 2012, several high-priced closings occurred. The largest was an 11,313-square-foot mansion that sold for $36.5 million.

Setting the stage to make 2013 another big year for Malibu: A Russian billionaire is paying $75 million, in an all-cash deal, to purchase a 9.5-acre estate featuring a 20,000-square-foot home. The sale is set to be a Malibu real estate record. 

Source: “Malibu Makes Bid to be World’s Mega-Mansion Capital,” CNBC.com (Jan. 12, 2013)

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