The sale of a 7,269-square-foot home in Malibu for $31.7 million highlights a growing trend of ultra-luxury real estate transactions, fueling the market's drive this year.
This highly coveted listing was brought to market in May with an asking price of $35 million, underscoring the robust demand for luxury properties in Malibu.
The transaction showcases Malibu's red-hot market, which has seen other significant real estate deals, including the sale of a home for $210 million, setting a state record.
Ultra-luxury deals in Malibu are thriving, with the recent purchase by Laurene Powell Jobs and a staggering $300 million private listing expected to reshape the market.
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