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State O' the Market: Malibu High-End Down

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The high-end real estate in already-high-end Malibu didn't have such a great year, reports the Malibu Times. Only one house went for more than $20 million compared to five in 2010; a mere five houses went for more than $10 million compared to 19 in 2010; and only 20 houses went for more than $5 million compared to 36 in 2010. That's worse than the picture was in 2009, in the thick of the downturn. Yes, shed a tear for Malibu tonight as you heat your can of beans over a trashcan fire. [Malibu Times]