Malibu Colony Beach remains L.A.'s priciest neighborhood, report says

"Malibu Colony Beach was the region's costliest real estate enclave. The median home in the oceanfront community sold for a whopping $10.65 million in 2018, according to housing data from PropertyShark. That's an 11% dip compared with last year, but still high enough to edge out the trio of Beverly Hills communities that ranked 2-4."

"Malibu Colony is so special because it's the only guard-gated community in Malibu where the homes sit so close to the sand. Malibu Colony holds roughly 120 homes - half on the land side and half on the beach."

"Malibu Colony Beach, a longtime magnet for celebrities and exorbitant price tags, saw the former Mediterranean-style home of Brian Grazer sell in May for $25.395 million. A few months later, the wood-wrapped Colony cottage of late billionaire A. Jerrold Perenchio sold for $12.65 million."

Malibu Colony Beach ranked as the most expensive neighborhood in the Los Angeles area for the second consecutive year in 2018, with a median home price of $10.65 million. Despite an 11% decrease from 2017, this price remained significantly higher than other luxury communities. Beverly Hills Gateway ranked second at $10.05 million, followed by Trousdale Estates at $8.535 million and Beverly Hills Flats at $7.45 million. Five additional Malibu communities and one Santa Monica neighborhood completed the top ten most expensive areas. Malibu Colony Beach attracts celebrities and commands premium prices due to its exclusive gated status and beachfront location, with approximately 120 homes positioned directly on the sand.

Read at Los Angeles Times