Malibu Market Update April 2012

Malibu continues to lead the pack with a high level of sales activity.

The number of homes sold in April was up 45% over the same time last year and continues to show signs of strong activity with a 100% jump in the number of open Escrows from the same time last year. Inventory levels are down 23% and even the new listing category is down 15%. The low inventory levels we are experiencing has had a very significant effect on pricing and even multiple offers. Another positive sign is the 30% decrease in the average time on the market which indicates homes are selling faster. Word on the street, if you have been waiting on the side lines now may be a great time to sell.  For additional information or comments please call Bill Kerbox at Westside Estate Agency 310-600-4484 www.billkerbox.com  kerbox@earthlink.net