This week, the median list price for Sherman Oaks, CA is $2,892,500, with the Market Action Index (MAI) at 34, up from last month’s 33. Inventory has increased to 110 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: 34 (Slight Seller’s Advantage)
- Last Month’s MAI: 33
The market continues to favor sellers, with increasing sales activity. If this trend continues, upward pricing pressure is expected in the coming weeks.
Market Narrative
Sherman Oaks remains in a seller’s market, with demand outpacing supply. The Market Action Index has been rising steadily, suggesting potential price growth if inventory remains tight.
Real-Time Market Profile
Key market data for Sherman Oaks this week:
- Median List Price: $2,892,500
- Median Price of New Listings: $2,550,000
- Price per Square Foot: $894
- Average Days on Market: 102
- Median Days on Market: 67
- Price Decreased: 35% of listings
- Price Increased: 6% of listings
- Relisted Properties: 29%
- Inventory: 110 properties
- Median Rent: $10,800 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 | 4,274 | 0.25 - 0.5 acre | 5 | 5 | 15 | 2 | 1 | 35 |
| $3,299,000 | 3,711 | 8,000 - 10,000 sqft | 4 | 4.5 | 43 | 3 | 1 | 63 |
| $2,572,500 | 3,008 | 8,000 - 10,000 sqft | 4 | 4 | 67 | 4 | 3 | 87 |
| $1,799,000 | 2,228 | 6,500 - 8,000 sqft | 3 | 3 | 73 | 4 | 10 | 63 |
Conclusion
Sherman Oaks remains a slight seller’s market, with low inventory supporting price stability. Monitor changes in the Market Action Index, as shifts in supply and demand will indicate future price trends.
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!
