This week, the median list price for Encino, CA is $2,919,500, with the Market Action Index (MAI) decreasing to 32 from last month's 35, indicating a slight seller's advantage. Inventory has increased to 146 active listings. Stay informed on Encino market trends!
Market Action Index
The Market Action Index measures the balance between sales rates and inventory, helping answer “How’s the Market?”
- Current MAI: 32 (Slight Seller's Advantage)
- Last Month's MAI: 35
Despite cooling trends, Encino remains in a seller's market due to significant demand and limited inventory. A continued decrease in the MAI could lead to more buyer-friendly conditions. However, if the MAI climbs again, expect prices to follow upward.
Market Narrative
The market has cooled over time with prices flattening. Encino remains a seller’s market, but if the MAI continues to drop or enters buyer territory, prices may face downward pressure.
Real-Time Market Profile
Here’s the current snapshot of the Encino real estate market:
- Median List Price: $2,919,500
- Median Price of New Listings: $2,249,000
- Price per Square Foot: $825
- Average Days on Market: 110
- Median Days on Market: 77
- Price Decreased: 45% of listings
- Price Increased: 2% of listings
- Relisted Properties: 25%
- Inventory: 146 homes
- Median Rent: $10,625 per month
Encino’s market remains competitive, with a large number of price reductions, but still showing some stability. Buyers may find opportunities to negotiate, especially with the growing inventory.
Market Segments
Here’s a breakdown of the Encino market into key segments, each representing about 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,497,500 | 6,849 | 0.25 - 0.5 acre | 6 | 7 | 15 | 2 | 3 | 105 |
| $3,776,700 | 4,564 | 0.25 - 0.5 acre | 5 | 5.5 | 43 | 3 | 2 | 84 |
| $2,499,000 | 3,031 | 0.25 - 0.5 acre | 4 | 3 | 62 | 2 | 4 | 63 |
| $1,596,000 | 2,030 | 4,500 - 6,500 sqft | 3 | 2.5 | 73 | 6 | 4 | 56 |
This segmentation reveals the wide range of properties in Encino, catering to both luxury buyers and those looking for smaller, more affordable options.
Conclusion
Encino remains a seller’s market, but with cooling trends. The growing inventory and slight decrease in Market Action Index may provide opportunities for buyers, though sellers still hold a slight advantage.
Contact Information
For personalized guidance on the Encino market, reach out to the real estate experts at Spitz Chavez Group:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for more updates on the Encino real estate market!
