The median list price for Sherman Oaks, CA is $2,844,000, with the Market Action Index (MAI) at 32, reflecting a slight seller’s advantage. Inventory remains steady at 116 homes, keeping the market in balance. Stay informed on Sherman Oaks real estate trends!
Market Action Index
The Market Action Index (MAI) gauges market conditions based on sales versus inventory:
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Current MAI: 32 (Slight Seller’s Advantage)
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Last Month’s MAI: 32
The market remains stable, with little movement in prices. If inventory remains low, sellers may retain control. However, if demand cools further, the market could shift toward buyers.
Market Narrative
Sherman Oaks continues to experience a relative balance between supply and demand. While prices have been flat for several weeks, low inventory is preventing a shift into a buyer’s market.
If MAI begins to climb, expect price increases. If it falls, buyers may gain more leverage in negotiations.
Real-Time Market Profile
Here’s a breakdown of key market statistics:
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Median List Price: $2,844,000
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Median Price of New Listings: $2,499,000
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Price per Square Foot: $899
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Average Days on Market: 102
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Median Days on Market: 53
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Price Decreased: 39% of listings
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Price Increased: 3% of listings
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Relisted Properties: 21%
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Inventory: 116 properties
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Median Rent: $11,150 per month
Market Segments
Sherman Oaks’ market is categorized into four pricing segments, each representing 25% of listings:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,995,000 | 4,389 | 8,000 - 10,000 sqft | 5 | 5 | 8 | 1 | 2 | 63 |
| $3,249,900 | 3,706 | 8,000 - 10,000 sqft | 4 | 4 | 46 | 1 | 1 | 49 |
| $2,499,000 | 2,788 | 8,000 - 10,000 sqft | 4 | 3.5 | 66 | 3 | 3 | 56 |
| $1,699,000 | 2,015 | 6,500 - 8,000 sqft | 3 | 2 | 74 | 2 | 4 | 35 |
Conclusion
Sherman Oaks remains a seller’s market, but prices are stable. Keep an eye on the Market Action Index—if demand picks up, prices could rise. If inventory grows, the market may shift toward buyers.
Contact Information
For expert insights and exclusive real estate opportunities in Sherman Oaks, contact:
- Andrew Spitz: (818) 453-9119 | ✉️ [email protected]
- Fran Chavez: (818) 517-1411 | ✉️ [email protected]
Stay ahead of the market with the latest Sherman Oaks real estate updates!
