Overview
The Tarzana real estate market showcases a variety of properties and pricing trends, indicating a dynamic and competitive environment. Below is a detailed report based on the latest data, providing insights into the current state of the market.
Key Market Indicators
- Median List Price: $2,499,500
- Median Price of New Listings: $2,124,500
- Price per Square Foot: $759
- Average Days on Market: 54
- Median Days on Market: 49
- Price Decreased: 34%
- Price Increased: 3%
- Relisted: 16%
- Inventory: 58
- Median Rent: $8,750
- Market Action Index: 37 (Slight Seller's Advantage)
Detailed Property Data
| Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | Days on Market |
|---|---|---|---|---|---|---|---|---|
| $4,122,500 | 5,750 | 0.25 - 0.5 acre | 6 | 6.8 | 21 | 0 | 0 | 52 |
| $3,099,500 | 3,712 | 0.25 - 0.5 acre | 4 | 4 | 61 | 1 | 1 | 63 |
| $2,195,000 | 2,955 | 0.25 - 0.5 acre | 4 | 4 | 61 | 2 | 1 | 49 |
| $1,695,000 | 2,146 | 6,500 - 8,000 sqft | 4 | 3 | 62 | 1 | 4 | 28 |
Market Analysis
Median List Price and New Listings
The median list price in Tarzana is $2,499,500, while the median price of new listings is slightly lower at $2,124,500. This indicates that while there are high-value properties available, newer listings may be entering the market at more competitive prices.
Price Per Square Foot
The average price per square foot is $759. This metric helps potential buyers compare properties of different sizes, providing a clearer picture of property value relative to size.
Days on Market
Properties in Tarzana spend an average of 54 days on the market, with a median of 49 days. This suggests a relatively brisk market where properties are sold fairly quickly.
Pricing Trends
- Price Decreased: 34% of properties have seen a price reduction, indicating some flexibility in the market.
- Price Increased: 3% of properties have had a price increase, suggesting that sellers are occasionally adjusting prices upwards.
- Relisted Properties: 16% of properties have been relisted, indicating that some properties were withdrawn and later re-entered the market, possibly after adjustments or renovations.
Inventory and Market Action
The current inventory of 58 properties suggests a balanced market. However, with a Market Action Index of 37, there is a slight seller's advantage, meaning that while the market is competitive, sellers may have a slight upper hand in negotiations.
Detailed Property Profiles
-
Luxury Estate
- Price: $4,122,500
- Size: 5,750 sq. ft.
- Lot Size: 0.25 - 0.5 acre
- Beds/Baths: 6/6.8
- Age: 21 years
- New Listings: 0
- Days on Market: 52
-
Spacious Family Home
- Price: $3,099,500
- Size: 3,712 sq. ft.
- Lot Size: 0.25 - 0.5 acre
- Beds/Baths: 4/4
- Age: 61 years
- New Listings: 1
- Days on Market: 63
-
Modern Townhouse
- Price: $2,195,000
- Size: 2,955 sq. ft.
- Lot Size: 0.25 - 0.5 acre
- Beds/Baths: 4/4
- Age: 61 years
- New Listings: 2
- Days on Market: 49
-
Classic Bungalow
- Price: $1,695,000
- Size: 2,146 sq. ft.
- Lot Size: 6,500 - 8,000 sqft
- Beds/Baths: 4/3
- Age: 62 years
- New Listings: 1
- Days on Market: 28
Contact Information
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
