This week, the median list price for Sherman Oaks, CA is $2,757,000, with the Market Action Index (MAI) at 32, up from last month’s 31. Inventory has increased to 112 properties, maintaining a slight seller’s advantage. Stay informed with the latest Sherman Oaks market trends!
Market Action Index
The Market Action Index tracks supply and demand balance:
- Current MAI: 32 (Slight Seller’s Advantage)
- Last Month’s MAI: 31
The market has strengthened slightly, though prices have remained steady. If demand continues to rise relative to inventory, expect prices to trend upward.
Market Narrative
Sherman Oaks remains a competitive market, with limited inventory and steady buyer demand. If the Market Action Index continues to rise, prices may begin increasing again. Buyers should move quickly, while sellers remain in a strong position.
Real-Time Market Profile
Key market data for Sherman Oaks this week:
- Median List Price: $2,757,000
- Median Price of New Listings: $2,399,000
- Price per Square Foot: $876
- Average Days on Market: 103
- Median Days on Market: 67
- Price Decreased: 36% of listings
- Price Increased: 4% of listings
- Relisted Properties: 29%
- Inventory: 112 properties
- Median Rent: $13,000 per month
Market Segments
Sherman Oaks properties are categorized into four key segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,995,000 | 4,269 | 8,000 - 10,000 sqft | 5 | 5.5 | 12 | 0 | 3 | 63 |
| $3,249,000 | 3,706 | 8,000 - 10,000 sqft | 5 | 4.5 | 48 | 4 | 2 | 80 |
| $2,424,500 | 2,964 | 6,500 - 8,000 sqft | 4 | 4 | 68 | 5 | 2 | 98 |
| $1,649,000 | 2,056 | 6,500 - 8,000 sqft | 3 | 2 | 73 | 4 | 4 | 38 |
Conclusion
Sherman Oaks continues to favor sellers, with moderate price stability and a slight increase in market activity. Buyers should act strategically, while sellers should capitalize on steady demand before conditions shift.
Contact Information
For expert insights and real estate opportunities in Sherman Oaks, reach out to the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead with the latest market insights in Sherman Oaks!
