This week, the median list price for Encino, CA is $3,342,000, with the Market Action Index (MAI) at 34, up from last month’s 30. Inventory has decreased to 94 properties, reflecting a strengthening 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: 34 (Slight Seller’s Advantage)
- Last Month’s MAI: 30
Encino’s market continues to favor sellers, with the rising MAI indicating increased demand and reduced inventory. This trend is driving upward pressure on prices, signaling a robust start to the new year.
Market Narrative
Encino’s real estate market has shown consistent strength in recent weeks. With inventory levels dropping and demand remaining steady, prices have resumed their upward trend. Buyers may face increasing competition, while sellers benefit from favorable conditions.
Real-Time Market Profile
Key metrics for the Encino market this week:
- Median List Price: $3,342,000
- Median Price of New Listings: $2,450,000
- Price per Square Foot: $831
- Average Days on Market: 144
- Median Days on Market: 105
- Price Decreased: 33% of listings
- Price Increased: 4% of listings
- Relisted Properties: 27%
- Inventory: 94 properties
- Median Rent: $9,250 per month
Market Segments
Encino properties are categorized into four market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,450,000 | 7,500 | 0.25 - 0.5 acre | 6 | 7.5 | 8 | 1 | 2 | 161 |
| $3,999,000 | 4,646 | 0.25 - 0.5 acre | 5 | 5.5 | 44 | 0 | 1 | 112 |
| $2,472,000 | 3,360 | 0.25 - 0.5 acre | 4 | 4 | 64 | 1 | 2 | 122 |
| $1,624,499 | 2,122 | 4,500 - 6,500 sqft | 4 | 3 | 76 | 1 | 2 | 70 |
Conclusion
Encino’s real estate market is gaining momentum, with rising prices and a strengthening seller’s advantage. Buyers should act quickly to secure properties before competition intensifies, while sellers can capitalize on favorable market conditions by pricing strategically.
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 ahead with the latest developments in Encino real estate!
