This week, the median list price for Encino, CA is $3,399,000, with the Market Action Index (MAI) at 34, holding steady from last month. Inventory has increased to 137 properties, maintaining a slight seller’s advantage. Stay informed with the latest Encino market trends!
Market Action Index
The Market Action Index tracks supply and demand balance:
- Current MAI: 34 (Slight Seller’s Advantage)
- Last Month’s MAI: 34
Encino remains in a seller’s market, with inventory increasing but still relatively low. Prices have been on an upward trend, and if demand continues at this pace, expect further appreciation.
Market Narrative
Encino’s real estate market has been stable in recent weeks, with consistent price trends. While inventory has increased, demand remains high, ensuring sellers still have an advantage.
Real-Time Market Profile
Key market data for Encino this week:
- Median List Price: $3,399,000
- Median Price of New Listings: $2,395,000
- Price per Square Foot: $864
- Average Days on Market: 126
- Median Days on Market: 98
- Price Decreased: 31% of listings
- Price Increased: 3% of listings
- Relisted Properties: 26%
- Inventory: 137 properties
- Median Rent: $10,500 per month
Market Segments
Encino properties are categorized into four key segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $7,624,499 | 8,280 | 0.5 - 1 acre | 6 | 7.5 | 6 | 4 | 3 | 126 |
| $4,045,000 | 4,909 | 0.25 - 0.5 acre | 5 | 5.5 | 60 | 1 | 2 | 112 |
| $2,519,500 | 3,360 | 0.25 - 0.5 acre | 4 | 4 | 61 | 3 | 4 | 70 |
| $1,749,000 | 2,150 | 6,500 - 8,000 sqft | 3 | 3 | 73 | 5 | 5 | 63 |
Conclusion
Encino continues to show steady demand and rising prices, making it an attractive market for sellers. Buyers should monitor changes in inventory levels and Market Action Index, as they will dictate future pricing trends.
Contact Information
For expert insights and real estate opportunities in Encino, reach out to the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead with the latest market insights in Encino!
