This week, the median list price for Sherman Oaks, CA is $2,900,000, with the Market Action Index (MAI) at 32, the same as last month. Inventory has increased to 114 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: 32
The Sherman Oaks market remains steady, with low inventory levels supporting sellers. However, if inventory continues to rise, buyers may gain more negotiating power.
Market Narrative
Sherman Oaks home prices have remained stable, and the market continues to favor sellers. If demand remains strong, prices could see an upward trend. However, a sustained increase in inventory could introduce downward pressure on prices in the coming months.
Real-Time Market Profile
Key market data for Sherman Oaks this week:
- Median List Price: $2,900,000
- Median Price of New Listings: $1,999,000
- Price per Square Foot: $891
- Average Days on Market: 105
- Median Days on Market: 56
- Price Decreased: 34% of listings
- Price Increased: 4% of listings
- Relisted Properties: 23%
- Inventory: 114 properties
- Median Rent: $8,800 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 |
|---|---|---|---|---|---|---|---|---|
| $4,160,000 | 4,576 | 0.25 - 0.5 acre | 5 | 5 | 20 | 3 | 0 | 35 |
| $3,324,499 | 3,764 | 8,000 - 10,000 sqft | 5 | 4.5 | 18 | 0 | 1 | 91 |
| $2,649,000 | 2,975 | 8,000 - 10,000 sqft | 4 | 4 | 66 | 1 | 3 | 98 |
| $1,799,000 | 2,262 | 6,500 - 8,000 sqft | 3 | 2.5 | 74 | 5 | 6 | 28 |
Conclusion
The Sherman Oaks market remains strong for sellers, but increasing inventory may signal a shifting trend. Buyers should watch the Market Action Index closely to determine the best time to enter the market.
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!
