This week, the median list price for Encino, CA is $2,750,000, with the Market Action Index (MAI) hovering around 32. This is slightly lower than last month’s MAI of 33. Inventory has increased to 151 homes. Stay informed with the latest updates on the Encino real estate market!
Market Action Index
The Market Action Index compares the rate of sales versus the available inventory to answer “How’s the Market?”
- Current MAI: 32 (Slight Seller's Advantage)
- Last Month's MAI: 33
Despite a cooling market, Encino remains a seller's market due to demand outpacing inventory. Keep an eye on MAI fluctuations. If it rises, prices may follow. If the MAI consistently drops or enters the buyer’s zone, prices could face downward pressure.
Market Narrative
The market in Encino has cooled in recent months, with prices stabilizing. However, because of strong demand and limited supply, the area remains a seller’s market. Monitor changes in the MAI, as any increase could push prices up, while further drops might signal a shift toward a buyer's market.
Real-Time Market Profile
Here’s a snapshot of the current Encino real estate market:
- Median List Price: $2,750,000
- Median Price of New Listings: $2,599,000
- Price per Square Foot: $827
- Average Days on Market: 110
- Median Days on Market: 70
- Price Decreased: 46% of listings
- Price Increased: 3% of listings
- Relisted Properties: 25%
- Inventory: 151 homes
- Median Rent: $10,000 per month
Price decreases in nearly half the listings offer buyers some room for negotiation, though the slight seller’s advantage persists due to limited inventory.
Market Segments
Here’s a breakdown of Encino’s real estate market, segmented into four key groups, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,990,000 | 7,690 | 0.25 - 0.5 acre | 6 | 7 | 7 | 2 | 2 | 105 |
| $3,785,000 | 4,475 | 0.25 - 0.5 acre | 5 | 5.3 | 59 | 4 | 7 | 80 |
| $2,449,500 | 3,071 | 0.25 - 0.5 acre | 4 | 3 | 61 | 4 | 4 | 70 |
| $1,580,000 | 1,994 | 4,500 - 6,500 sqft | 3 | 2.8 | 73 | 3 | 6 | 56 |
This segmentation highlights the diverse range of homes available in Encino, from expansive luxury estates to more modest family homes.
Conclusion
Encino remains a slight seller's market with prices stabilizing and inventory on the rise. Buyers should be prepared to act quickly, especially in the higher-end segments, where demand remains robust. For sellers, now is a favorable time to list with continued demand pushing the market forward.
Contact Information
For detailed insights and personalized advice on the Encino real estate market, reach out to the 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!
