This Week's Market Overview
The median list price for Encino, CA 91316 is $2,650,000. Inventory has increased to 77 homes while the Market Action Index remains at 34, maintaining a slight seller's advantage despite signs of a cooling market.
Market Action Index
Current MAI: 34 (Slight Seller's Advantage) | Last Month's MAI: 34
The MAI remains unchanged from last month, indicating that while buyer activity remains healthy, increased inventory is beginning to create a more balanced market environment.
Market Narrative
The market has been cooling consistently for several weeks as inventory has increased and demand has softened. Prices have begun to trend lower as a result.
This week continues that pattern, with median list prices showing another step down from recent highs. If the Market Action Index begins to move into buyer territory, additional downward pricing pressure could develop before the market finds support. Conversely, a sustained increase in market action would likely signal that prices are approaching a bottom.
Real-Time Market Profile
Median List Price: $2,650,000
Median Price of New Listings: $2,346,500
Price per Sq Ft: $819
Average Days on Market: 120
Median Days on Market: 63
% Price Decreased: 32%
% Price Increased: 1%
Relisted Properties: 16%
Inventory: 77 properties
Median Rent: $4,500/month
Market Segments
Median Price | Sq Ft | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
$6,545,000 | 6,504 | 0.25–0.5 acre | 6 | 6.5 | 9 yrs | 1 | 2 | 52 |
$3,395,000 | 4,369 | 0.25–0.5 acre | 5 | 5.5 | 55 yrs | 0 | 1 | 91 |
$1,995,000 | 2,600 | 0.25–0.5 acre | 4 | 3 | 68 yrs | 5 | 2 | 42 |
$1,295,000 | 1,608 | 4,500–6,500 sqft | 3 | 2 | 77 yrs | 0 | 1 | 70 |
Conclusion
Encino 91316 remains in seller-favored territory, but recent trends suggest the market is becoming more balanced. Buyers have gained additional options as inventory has increased, while sellers are finding that accurate pricing and strong presentation are becoming increasingly important.
Contact Information
Andrew: (818) 370-6121 | [email protected]
Fran: (818) 517-1411 | [email protected]
