This week, the median list price for Encino, CA is $3,399,000, with the Market Action Index (MAI) at 32, holding steady from last month. Inventory has decreased to 107 properties, reflecting a continued seller’s advantage. Stay updated on Encino real estate trends!
Market Action Index
The Market Action Index measures the balance of supply and demand:
- Current MAI: 32 (Slight Seller’s Advantage)
- Last Month’s MAI: 32
Encino’s market remains in the Seller’s zone, with strong demand and limited inventory. As long as these conditions persist, prices are likely to continue their upward trend.
Market Narrative
Encino’s real estate market is heating up, with strong buyer demand and fewer available homes. This has led to sustained price increases. Unless inventory rises significantly, the market is expected to maintain this trend.
Real-Time Market Profile
Key data for the Encino market this week:
- Median List Price: $3,399,000
- Median Price of New Listings: $3,499,999
- Price per Square Foot: $823
- Average Days on Market: 149
- Median Days on Market: 112
- Price Decreased: 34% of listings
- Price Increased: 3% of listings
- Relisted Properties: 27%
- Inventory: 107 properties
- Median Rent: $9,000 per month
Market Segments
Encino properties are categorized into four distinct segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,350,000 | 7,500 | 0.25 - 0.5 acre | 6 | 7.5 | 6 | 4 | 0 | 140 |
| $3,995,000 | 4,646 | 0.25 - 0.5 acre | 5 | 5 | 59 | 5 | 0 | 91 |
| $2,555,000 | 3,365 | 0.25 - 0.5 acre | 4 | 4 | 61 | 3 | 0 | 119 |
| $1,699,000 | 2,200 | 4,500 - 6,500 sqft | 4 | 3 | 76 | 3 | 2 | 77 |
Conclusion
The Encino market remains in a strong seller’s position, with rising prices and decreasing inventory. Buyers should act quickly to secure properties before competition intensifies, while sellers can benefit from favorable market conditions.
Contact Information
For expert insights into Encino real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead with the latest developments in Encino real estate!
