Current Market Conditions
The real estate market in Encino, CA, is showing a slight seller's advantage. The market offers opportunities for sellers, though buyers also have significant options. Here's an overview of the key market indicators:
Key Market Indicators:
- Median List Price: $2,999,000
- Median Price of New Listings: $2,599,000
- Price per Square Foot: $838
- Average Days on Market: 91 days
- Median Days on Market: 63 days
- Price Decreased: 45%
- Price Increased: 3%
- Relisted: 19%
- Inventory: 123 homes
- Median Rent: $9,500
- Market Action Index: 35 (Slight Seller's Advantage)
The Market Action Index of 35 indicates a slight advantage for sellers, though the market remains competitive and balanced, providing opportunities for both buyers and sellers.
Price Analysis by Home Type
Below are detailed statistics on different types of properties in Encino:
| Median Price | Sq. Ft. | Lot Size | Beds | Baths | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $6,997,499 | 7,845 | 0.25 - 0.5 acre | 6 | 7.5 | 6 | 2 | 2 | 101 |
| $3,995,000 | 4,900 | 0.25 - 0.5 acre | 5 | 5.5 | 44 | 3 | 3 | 91 |
| $2,549,000 | 3,031 | 0.25 - 0.5 acre | 4 | 3.5 | 62 | 3 | 6 | 56 |
| $1,649,000 | 2,077 | 4,500 - 6,500 sqft | 3 | 2.5 | 72 | 4 | 5 | 42 |
Property Price Segmentation:
- High-end properties in Encino reach a median price of $6,997,499, offering expansive living spaces of nearly 8,000 sq. ft. on substantial lot sizes.
- Upper-mid range properties are priced at a median of $3,995,000, featuring large living areas and luxurious amenities.
- Mid-range properties typically have a median price of $2,549,000, offering spacious living spaces with desirable features.
- Entry-level properties provide more modest living spaces with a median price of $1,649,000, suitable for smaller families or those looking to enter the market.
Days on Market (DOM)
The average DOM for properties in Encino is 91 days, with a median of 63 days. This suggests a market where homes are taking a bit longer to sell, giving buyers some flexibility while still maintaining a seller's advantage.
Rental Market
The rental market in Encino remains robust, with a median rent of $9,500. This reflects the high demand for rental properties in this desirable neighborhood.
Contact Information
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
