This week, the median list price for Encino, CA is $3,145,000, with the Market Action Index (MAI) at 29, down from last month’s 31. Inventory remains steady at 153 properties, reflecting a market slowly shifting toward buyers. Stay updated on Encino’s real estate trends!
Market Action Index
The Market Action Index measures the balance of supply and demand:
- Current MAI: 29 (Slight Buyer’s Advantage)
- Last Month’s MAI: 31
Encino is trending toward a buyer’s market as demand softens and inventory holds steady. If this trend continues, prices may experience downward pressure in the coming months.
Market Narrative
The Encino market is showing signs of cooling, with prices remaining stable despite declining buyer demand. Sellers may need to adopt competitive pricing strategies to attract interest as the MAI decreases. Buyers can look forward to more negotiation opportunities.
Real-Time Market Profile
Key metrics for the Encino market this week:
- Median List Price: $3,145,000
- Median Price of New Listings: $2,060,000
- Price per Square Foot: $846
- Average Days on Market: 127
- Median Days on Market: 91
- Price Decreased: 41% of listings
- Price Increased: 3% of listings
- Relisted Properties: 24%
- Inventory: 153 properties
- Median Rent: $10,800 per month
Market Segments
Encino’s properties are categorized into four distinct market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,545,000 | 7,111 | 0.25 - 0.5 acre | 6 | 6.8 | 7 | 2 | 1 | 112 |
| $3,998,000 | 4,502 | 0.25 - 0.5 acre | 5 | 5.5 | 53 | 1 | 1 | 87 |
| $2,399,500 | 3,231 | 0.25 - 0.5 acre | 4 | 3.5 | 61 | 1 | 3 | 105 |
| $1,695,000 | 2,030 | 4,500 - 6,500 sqft | 3 | 2.5 | 72 | 4 | 6 | 63 |
Conclusion
The Encino market is transitioning to a slight buyer’s advantage, with stable inventory and cooling demand. Sellers should prioritize strategic pricing, while buyers can leverage the market’s shift to negotiate favorable terms.
Contact Information
For expert advice and personalized insights into Encino real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead of the trends in Encino’s real estate market!
