This week, the median list price for Encino, CA is $2,997,499, with the Market Action Index (MAI) at 30, up slightly from last month’s 29. Inventory has decreased to 142 properties, signaling a modest shift toward a seller’s market. Stay informed on the latest Encino real estate trends!
Market Action Index
The Market Action Index compares the rate of sales versus inventory:
- Current MAI: 30 (Slight Seller’s Advantage)
- Last Month’s MAI: 29
Encino remains balanced, leaning toward sellers. The slight increase in MAI suggests steady demand, though inventory constraints could drive further shifts in favor of sellers.
Market Narrative
Encino’s market has been stable in recent weeks, with prices and inventory showing minimal change. Sellers benefit from a slight edge, but buyers may still find opportunities in properties with price reductions or longer days on the market.
Real-Time Market Profile
Key data for the Encino market this week:
- Median List Price: $2,997,499
- Median Price of New Listings: $1,849,000
- Price per Square Foot: $861
- Average Days on Market: 136
- Median Days on Market: 95
- Price Decreased: 37% of listings
- Price Increased: 4% of listings
- Relisted Properties: 23%
- Inventory: 142 properties
- Median Rent: $11,000 per month
Market Segments
Encino properties are divided into four distinct market segments, each representing roughly 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,500,000 | 6,692 | 0.5 - 1 acre | 6 | 6.5 | 16 | 0 | 4 | 112 |
| $3,995,000 | 4,500 | 0.25 - 0.5 acre | 5 | 5 | 56 | 2 | 1 | 84 |
| $2,362,500 | 3,013 | 0.25 - 0.5 acre | 4 | 3.5 | 61 | 3 | 2 | 119 |
| $1,574,500 | 2,029 | 4,500 - 6,500 sqft | 3 | 2.5 | 75 | 6 | 2 | 77 |
Conclusion
The Encino market maintains a slight Seller’s Advantage, with stable prices and a slight uptick in demand. Sellers should price strategically to capitalize on market conditions, while buyers can look for opportunities among price-reduced and relisted properties.
Contact Information
For personalized insights into Encino real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay updated with the latest developments in the Encino market!
