This week, the median list price for Encino, CA is $2,919,500, with the Market Action Index (MAI) dropping to 33 from last month's 35, indicating a slight seller's advantage. Inventory has risen to 146 active listings. Stay updated with the Encino market trends!
Market Action Index
The Market Action Index helps answer "How's the Market?" by comparing the rate of sales with the available inventory.
- Current MAI: 33 (Slight Seller's Advantage)
- Last Month's MAI: 35
The MAI has decreased over time, indicating cooling market conditions. However, Encino is still in a Seller’s Market, meaning there is enough demand to keep the inventory low. If the MAI starts to rise again, we may see prices begin to climb. Conversely, if the MAI continues to fall or shifts into the Buyer’s zone, downward pressure on prices could follow.
Market Narrative
Encino’s market is seeing a cooling trend as the MAI continues to decrease, and prices have flattened. While still a Seller’s Market, this could be an early sign of shifting dynamics. If the MAI drops further, it may create opportunities for buyers, but sellers still hold a slight advantage for now.
Real-Time Market Profile
Stay informed with the latest data from the Encino market:
- Median List Price: $2,919,500
- Median Price of New Listings: $2,495,000
- Price per Square Foot: $823
- Average Days on Market: 108
- Median Days on Market: 77
- Price Decreased: 46% of listings
- Price Increased: 2% of listings
- Relisted Properties: 24% of listings
- Inventory: 146 homes
- Median Rent: $11,500 per month
Nearly half of the listings have experienced price reductions, signaling possible opportunities for buyers. Sellers still hold an advantage, but the increasing inventory and cooling MAI suggest the market could become more balanced soon.
Market Segments
Here’s an overview of Encino’s market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,939,000 | 7,503 | 0.25 - 0.5 acre | 6 | 7 | 7 | 2 | 0 | 98 |
| $3,995,000 | 4,564 | 0.25 - 0.5 acre | 5 | 5 | 48 | 7 | 7 | 87 |
| $2,500,000 | 3,216 | 0.25 - 0.5 acre | 4 | 3 | 62 | 8 | 0 | 63 |
| $1,695,000 | 2,148 | 4,500 - 6,500 sqft | 3 | 3 | 72 | 8 | 5 | 49 |
This breakdown reflects the wide range of properties available in Encino, from expansive estates to smaller, family-oriented homes.
Conclusion
Encino's real estate market remains slightly in favor of sellers, but a cooling trend is becoming apparent as inventory rises and the Market Action Index decreases. Buyers should watch for changes, as continued declines in the MAI could shift the market in their favor.
Contact Information
For personalized advice and detailed insights into the Encino real estate market, reach out to the local experts at Spitz Chavez Group.
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for future market updates!
