Emma Stone’s Malibu Home Closes a Month After Hitting the Market

“This is a prime example of a category that is so in demand,” said listing agent Eric Lavey of Sotheby’s International Realty. “Where, under $5 million, can you get an experience like this? Good luck, it’s not happening.”

The 33-year-old “La La Land” and “Cruella” star purchased the blufftop house for $3.25 million in 2018, according to property records. The approximately 1,800-square-foot home has a recently remodeled kitchen. It sits on about 3.2 acres with ocean views, eucalyptus and yucca trees and a large brick patio. The home is located in the Big Rock area of ​​Malibu, which has gained popularity due to its proximity to the city, said Mr. Lavey.

Ms. Stone didn’t respond to a request for comment. She also owns several homes around the country.

In the first quarter, the median price for a single-family home in Malibu shot to $6.99 million, compared with $4.25 million during the same period of 2021, according to appraisal firm Miller Samuel.

“Even though the high-end luxury real-estate market has stalled in most areas of LA over the last month due to the recent rise in interest rates, Malibu remains strong,” said Ms. May. “It’s a combination of still very low inventory and a strong demand for a great location.”

Write to Sarah Payinter at Sarah.payinter@wsj.com