Market Overview
As of Wednesday, August 7, 2024
Current Market Conditions
The real estate market in Encino, CA, is experiencing a balanced market condition, providing opportunities for both buyers and sellers.
Key Market Indicators:
- Median List Price: $2,995,000
- Median Price of New Listings: $2,497,000
- Price per Square Foot: $842
- Average Days on Market: 84
- Median Days on Market: 49
- Price Decreased: 44%
- Price Increased: 2%
- Relisted: 20%
- Inventory: 133 homes
- Median Rent: $12,250
- Market Action Index: 35
The Market Action Index of 35 indicates a balanced market. This index suggests consistent market conditions, offering a fair environment for both buying and selling. The inventory of 133 homes shows a steady market, with a slight tilt towards balance.
Price Analysis by Home Type
Below are detailed statistics on different types of properties in Encino:
| Median Price | Sq. Ft. | Lot Size | Beds | Baths | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,995,000 | 7,599 | 0.5 - 1 acre | 6 | 7.5 | 7 | 1 | 1 | 98 |
| $3,995,000 | 4,900 | 0.25 - 0.5 acre | 5 | 6 | 33 | 4 | 3 | 70 |
| $2,549,000 | 3,003 | 0.25 - 0.5 acre | 4 | 3.5 | 65 | 7 | 5 | 42 |
| $1,599,000 | 2,066 | 4,500 - 6,500 sq. ft. | 3 | 3 | 75 | 6 | 3 | 31 |
Property Price Segmentation:
- High-end properties in Encino reach a median price of $6,995,000, offering expansive living spaces of over 7,500 sq. ft. on substantial lot sizes.
- Upper-mid range properties have a median price of $3,995,000, featuring large living areas and substantial amenities.
- Mid-range properties typically have a median price of $2,549,000, offering generous living spaces and amenities.
- Entry-level properties provide more modest living spaces with a median price of $1,599,000, suitable for smaller families or those looking to downsize.
Days on Market (DOM)
The average DOM for properties in Encino is 84 days, with a median of 49 days. This indicates a market where properties are selling at a moderate pace, giving buyers time to make decisions.
Rental Market
The rental market in Encino remains strong, with a median rent of $12,250. This reflects the high demand for rental properties in this desirable area.
Contact Information
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
