Country music superstars Garth Brooks and Trisha Yearwood are looking to have one less luxury home to store their well-trodden cowboy boots. Earlier this month country music’s first couple put their beautiful beachfront Malibu property up for sale for $7.5 million.
The luxury property at 28020 Sea Lane Drive is simplistic yet worthy of its high-profile inhabitants. A one-story home outfitted with four bedrooms, 3.5 bathrooms and 4,236 square feet of living space sits on a half-acre of land with beach access to nearby Paradise Cove.
Not surprisingly, the home features a chef’s kitchen for Yearwood who, aside from being one of country music’s most successful female stars, also hosted a Daytime Emmy Award-winning Food Network show highlighting her skills as a down-home cook and hostess. The light and airy contemporary beach house also features vaulted ceilings, clean modern angles, several fireplaces and clerestory windows.
The grounds of the home are just welcoming as the cozy home with mature trees, a patio fit for extensive entertaining, an outdoor fireplace and a multi-sport court. The home is located within a gated community in Malibu wired for 24-hour security.
Brooks and Yearwood purchased the home back in 2008 after it had gone under extensive renovations. In addition to unloading this pad, Yearwood also posted her Brentwood, Tennessee, home on the market earlier this year. It seems the couple may be downsizing ahead of their big, country-wide tour to begin in September.
Malibu Homes Coming to the Market
With Brooks and Yearwood’s luxurious retreat listed on the market in early August, as well as a slew of others over the last few weeks, it seems the inventory of available homes in Malibu is finally set to pick up rather late in the season. The Malibu community has seen a slight swell in available luxury properties in the last few weeks, enough to create somewhat of an imbalance that is favoring the luxury home buyer at the moment.
Altos Research, a California-based real estate analytics company, reports that as of August there were about 238 properties available in this uber-exclusive community. Inventory had been gaining since about April, but has only recently begun to broach the high water mark from last year of about 317 available properties.
With this increase of property up for sale in Malibu, buyer demand has lessened quite a bit bringing Altos’ unique value known as the Market Action Index below average and into buyer-favored territory. With an MAI of 26.15, Malibu home buyers are strongly in favor as available properties outnumber home buyers trying to get into the local real estate market.
These factors have helped to regulate home prices in Malibu, however they have managed to stay well in the luxury property range know to the area. As of August 8, the median single-family home value in Malibu was $4,317,038.
If you would like to learn more about available Malibu homes, please feel free to contact our team of luxury property experts. We’d love to help you find the right property for you.