Agents have noticed an increased interest in other beach areas with standout high-end listings for buyers “looking for a much more quiet way of life.”
Malibu real estate recorded another record year in 2020, with a 104 percent jump in single-family home sales and a 36 percent increase in condo sales from 2019, with a median listing price of $3.2 million, according to Realtor.com. As inventory remains low and prices high, agents have noticed an increased interest in other beach areas, including these alternatives:
UNDERSTATED IN PALOS VERDES The Palos Verdes peninsula sits an hour south of Malibu, on the southern coast of Los Angeles County. The community is known for its, peacocks, romantic lighthouse and lack of residential streetlights. Far from the bustle of Malibu, elegant, understated Palos Verdes offers bigger lots at a more affordable price, top-rated public schools and a slower way of life to low-key residents like George Takei.
“Approximately 25 percent of the city is designated parkland or open space,” says Chris Adlam of Sotheby’s International Reality. “It has a really cool sort of rural feel to it — it’s green and luscious.”
Buyers, says Adlam, “are looking for a much more quiet way of life. It’s sort of the billionaire next door that drives around in his pickup truck. People come here and they think, oh my gosh, I’m in Los Angeles? I can’t even believe it.”
Long considered too far from the studios for the entertainment crowd, the area has seen increased Hollywood interest, says Adlam, as COVID-19 has transformed the way people work. According to Redfin, in March, the median sale price in the city of Palos Verdes Estates was $2.29 million, a staggering 35.5 percent increase year over year.
Currently for sale is the 3.1-acre Roessler Estate, a Spanish-style 1920s stunner built by the town’s first mayor, Fred Roessler. Boasting a movie theater, putting green, spa, secret gardens and a veranda with views of the area’s craggy, sloping coastline, it’s listed by Adlam at $18.95 million.