This week, the median list price for Encino, CA is $3,065,500, with the Market Action Index (MAI) at 29, down from last month’s 31. Inventory has grown to 156 properties, reflecting a gradual shift toward a buyer’s market. Stay informed with the latest Encino real estate trends!
Market Action Index
The Market Action Index gauges the balance between supply and demand:
- Current MAI: 29 (Slight Buyer’s Advantage)
- Last Month’s MAI: 31
Encino is transitioning toward a buyer-friendly market as inventory continues to rise and demand softens. Watch for further decreases in the MAI, which could lead to additional pricing adjustments.
Market Narrative
Encino’s market has shown consistent cooling in recent weeks, with prices stabilizing despite rising inventory. If supply continues to outpace demand, downward pricing pressure may become more apparent, creating greater opportunities for buyers.
Real-Time Market Profile
This week’s key metrics for the Encino market:
- Median List Price: $3,065,500
- Median Price of New Listings: $3,437,000
- Price per Square Foot: $857
- Average Days on Market: 122
- Median Days on Market: 84
- Price Decreased: 42% of listings
- Price Increased: 4% of listings
- Relisted Properties: 24%
- Inventory: 156 properties
- Median Rent: $10,850 per month
Market Segments
Encino’s properties are divided into four primary market segments, each representing roughly 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,700,000 | 6,692 | 0.5 - 1 acre | 6 | 6.5 | 7 | 5 | 1 | 112 |
| $3,995,000 | 4,450 | 0.25 - 0.5 acre | 5 | 5.5 | 58 | 5 | 3 | 91 |
| $2,400,000 | 3,114 | 0.25 - 0.5 acre | 4 | 3.5 | 61 | 6 | 5 | 91 |
| $1,550,000 | 1,918 | 4,500 - 6,500 sqft | 3 | 2 | 73 | 2 | 4 | 70 |
Conclusion
The Encino market is trending toward a slight buyer’s advantage, with increasing inventory and stabilizing prices. Buyers may find more opportunities for negotiation, while sellers should consider competitive pricing to attract interest.
Contact Information
For expert advice and real-time insights into the Encino real estate market, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay up to date with the latest developments in Encino real estate!
