Malibu real estate-by the numbers
By Rick Wallace Special to The Malibu Times
I write articles about local real estate for The Malibu Times. Perhaps you have noticed over the years that I touch upon many aspects of Malibu’s largest industry, but I will tell you a secret. It is mainly numbers. I research statistics. Then I build a story around them. The numbers are the technical part. The story is the artistic part. I get involved with both.
The technical numbers are the bones, which are surrounded by some artistic meat and fat that make the story. This week we will exclude the fat, and scarcely use any meat. Just bones. Just numbers.
Here is Malibu real estate, and reflections of 10 years of articles, simplified. By the numbers:
280-In millions, the approximate population of the United States.
12-In millions, the approximate population within a two-hour drive of Malibu.
400-In thousands, excluding children, the number of adults I estimate would prefer to live in Malibu if they could afford it.
300-The number of adults, per year, who can ultimately afford to purchase the approximately 300 homes that sell in the Malibu/90265 zip code annually.
220-The approximate number of active real estate agents currently working in the Malibu area who, with some regularity, sell those 300 homes.
80-The number of annual listings of local homes that are with brokers/agents who do not regularly work in Malibu. Thus, 300 homes sell among 300 agents actually participating.
210-The number of home sales, I estimate, that involve buyers out of Malibu; 90 buyers are already here.
9-The current median number of months for a house to sell, in this good market, from the day it goes on the market to the day it closes escrow. Half take longer than that; half take less. (Very low, relatively.)
5-The current average percentage of price reduction from the most recent asking price to the final selling price. (Very low, relatively.)
180-The approximate number of single-family homes that are currently listed for sale in the Malibu/90265 ZIP code.
221-The number of local real estate agents who regularly compete for those 180 home listings, (excluding outside invaders) and including the new agent that joined the business since this article began.
62-The number of specific neighborhoods common characteristics where I track sales in the Malibu realty area. No. 1 is Las Tunas Beach; No. 14 is Serra Retreat; No. 34 is Pt Dume, not including the bluffs. Malibu West, lower canyon, is No. 40; Broad Beach on the sand is No. 42.
1-At this writing, (one of my favorite disclaimers) the number of two-bedroom condos for sale in Malibu for less than $600,000.
18-The approximate number of real estate articles that I contribute to The Malibu Times each year.
3-The average number of feature commentaries, “Along the PCH” I contribute to the page 4 opinion page each year, in Arnold’s spot. (Separate from the real estate articles.) I always get my picture with those.
1-The number of times, as far as I am aware, I have been threatened with a lawsuit for something I had written (and I had suggested something COMPLIMENTARY about the person! Indirectly, of course.).
0-The number of times in 10 years I have mentioned a buyers name, a sellers name, an address or a celebrity’s name in a real estate article. (Also, in dollars, the amount of money Arnold has paid me.)
30-The approximate average number of listings featured on the Thursday broker’s caravan each week for Malibu agents to preview.
1.5-In millions of dollars, the approximate median price for a home sale in Malibu these days. Half sell for less; half sell for more.
900-In thousands of dollars, the current approximate median price for a Malibu sale incorrectly but frequently reported in other newspapers and magazines (using faulty and incomplete statistics provided by a well-known data service).
15-Number of championships won by the Lakers, Dodgers and Angels in the L.A. area to date (not really a real estate matter, but I enjoy sports statistics also).
700-Standard amount, in dollars, that it cost to buy one page of advertising in the Homes & Land magazine to advertise a listing, whether overpriced or not.
4,000-Approximate number of single-family houses in the Malibu/90265 ZIP code area.
2-Number of years land buyers are told, generally, that it takes to obtain permits to begin to build a house in Malibu.
0-The number of times I felt the slightest anguish as I revealed any of the above numbers. Approximately.
Rick Wallace of the Coldwell Banker company has been a Malibu Realtor for 15 years. He can be reached at his Web site at www.RICKMALIBUrealestate.com