This week, the median list price for Encino, CA is $2,745,000, with the Market Action Index (MAI) at 31, a slight decrease from last month’s 32. Inventory has increased to 150 homes. Stay current with Encino’s real estate market by clicking here!
Market Action Index
The Market Action Index reflects the balance of sales rate and inventory in the market.
- Current MAI: 31 (Slight Seller’s Advantage)
- Last Month’s MAI: 32
The Encino market is in a cooling phase, with prices leveling off. While still within a Seller’s Market, if the MAI drops consistently or shifts into the Buyer’s zone, we may see downward pressure on prices. If it climbs, prices could trend upward again.
Market Narrative
Encino’s market is showing signs of cooling, with steady prices as inventory grows. Sellers retain a slight advantage, but increased inventory and small fluctuations in the MAI indicate some flexibility for buyers. Any significant drop in MAI could shift the dynamic toward a Buyer’s Market.
Real-Time Market Profile
Key stats in the Encino market this week:
- Median List Price: $2,745,000
- Median Price of New Listings: $2,100,000
- Price per Square Foot: $828
- Average Days on Market: 119
- Median Days on Market: 84
- Price Decreased: 49% of listings
- Price Increased: 6% of listings
- Relisted Properties: 25%
- Inventory: 150 homes
- Median Rent: $10,375 per month
The rising inventory and notable price reductions suggest potential negotiation opportunities for buyers. Sellers can benefit from pricing competitively to ensure timely transactions.
Market Segments
Encino’s real estate market is segmented into four groups, representing approximately 25% of listings each:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,990,000 | 7,406 | 0.5 - 1 acre | 6 | 7 | 14 | 1 | 4 | 112 |
| $3,850,000 | 4,500 | 0.25 - 0.5 acre | 5 | 5.5 | 46 | 2 | 1 | 98 |
| $2,399,500 | 3,071 | 0.25 - 0.5 acre | 4 | 3 | 62 | 4 | 2 | 77 |
| $1,549,500 | 1,916 | 4,500 - 6,500 sqft | 3 | 2.3 | 74 | 4 | 4 | 63 |
This segmentation highlights the variety of home options available in Encino, from luxury estates to more moderately priced family homes.
Conclusion
Encino continues to show a slight seller's advantage, with cooling market conditions. Buyers may find greater negotiation flexibility, while sellers should consider listing competitively to attract timely offers. Monitor the Market Action Index closely for potential price shifts.
Contact Information
For expert advice and real-time insights on the Encino market, reach out to the Spitz Chavez Group:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay informed with up-to-date Encino real estate trends!
