This week, the median list price for Encino, CA is $3,132,000, with the Market Action Index (MAI) at 30, up slightly from last month’s 29. Inventory has decreased to 133 properties, reflecting strengthening market conditions. Stay updated on Encino real estate trends!
Market Action Index
The Market Action Index compares the rate of sales to inventory:
- Current MAI: 30 (Slight Seller’s Advantage)
- Last Month’s MAI: 29
Encino remains in a seller’s market, with the MAI showing modest improvement. Should this trend continue, prices may resume an upward climb, driven by increased demand relative to supply.
Market Narrative
Encino’s market shows signs of strengthening, though prices have plateaued for now. Continued increases in sales relative to inventory could push prices higher, making this an ideal time for sellers to list competitively. Buyers may find opportunities in properties with price reductions or longer time on the market.
Real-Time Market Profile
Key metrics for the Encino market this week:
- Median List Price: $3,132,000
- Median Price of New Listings: $3,650,000
- Price per Square Foot: $842
- Average Days on Market: 133
- Median Days on Market: 98
- Price Decreased: 39% of listings
- Price Increased: 4% of listings
- Relisted Properties: 23%
- Inventory: 133 properties
- Median Rent: $11,975 per month
Market Segments
Encino properties are categorized into four distinct market segments, each representing roughly 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,499,000 | 7,200 | 0.25 - 0.5 acre | 6 | 7 | 7 | 1 | 2 | 126 |
| $3,950,000 | 4,500 | 0.25 - 0.5 acre | 5 | 5 | 58 | 2 | 3 | 84 |
| $2,395,000 | 3,114 | 0.25 - 0.5 acre | 4 | 4 | 61 | 1 | 5 | 133 |
| $1,500,000 | 2,030 | 4,500 - 6,500 sqft | 3 | 2 | 75 | 1 | 3 | 73 |
Conclusion
The Encino market retains a slight Seller’s Advantage, with the MAI trending upward. Sellers can benefit from rising demand by pricing strategically, while buyers should act quickly to secure opportunities before conditions shift further toward sellers.
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 informed with the latest developments in Encino real estate!
