Malibu, CA (PRWEB) February 28, 2013
The Real Estate Marketing Insider by Tobias Nergarden announced the winner of its Luxury Market of the Week award, given to a housing market or community that shows growth or promise in its luxury property market. This week’s award went to Malibu, Calif., the beachfront city known worldwide for its luxury properties.
According to recently-announced figures in The Malibu Times, Malibu’s housing market, troubled by the recession, has begun to recover considerably. In 2012, the median price of a Malibu home rose to $2.25 million, marking an 8 percent increase year-over-year. That price point does not mark a full recovery from its apex in 2008, right before the recession, when the median price was $3.2 million. But the progress is inspiring, and most experts expect prices to continue rising and for the market to continue its recovery. Meanwhile, Malibu’s sales numbers are close to a full recovery. Last year, there were 294 transactions, just short of the sales peak of 309 transactions in 2004.
Malibu is one of the few markets in the nation whose health is predicated almost completely by the sale of luxury properties. The lack of demand for beachfront home rentals brought on by the recession proved to be quite costly for Malibu. But as the recovery begins in earnest, REMI expects that the area will heal quickly, which presents a great opportunity for realtors looking to break into the luxury market. Realtors interested in holding Malibu properties should buy now, before the price point rises. Real estate firms can take advantage of Malibu’s picturesque views and exquisite landscapes in advertising campaigns, and use targeted real estate web marketing to announce the new holding to capable and interested buyers. This Luxury Market of the Week could reap huge rewards for realtors willing to take a chance on it.
The Real Estate Marketing Insider announced the winner of its Luxury Market of the Week award. The award this week went to Malibu, Calif., upon news that their sales and price median are beginning to show true recovery from the hard-hitting recession.
About the Real Estate Marketing Insider:
REMI is an online publication based in La Jolla, Calif., and specializes in the real estate market’s insider secrets. REMI provides breaking news, trend and market analysis, and expert opinions on growing a real estate business.