This Week’s Market Overview
The median list price for Sherman Oaks, CA is $2,499,000, with the Market Action Index (MAI) at 30, reflecting a slight seller’s advantage. Inventory has decreased to 149 homes, tightening conditions slightly compared to last month.
Market Action Index
The Market Action Index gauges the balance between supply and demand:
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Current MAI: 30 (Slight Seller’s Advantage)
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Last Month’s MAI: 31
Although the MAI has dipped slightly, the market remains in a seller’s zone. If inventory continues to tighten, we may see renewed upward pressure on prices.
Market Narrative
Sherman Oaks’ housing market has been cooling, with prices recently flattening. Despite the slight decline in MAI, demand still outpaces available supply, keeping the market in the seller’s advantage. Continued shifts in MAI will provide early indications of potential price movement.
Real-Time Market Profile
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Median List Price: $2,499,000
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Median Price of New Listings: $2,199,499
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Price per Square Foot: $847
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Average Days on Market: 95
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Median Days on Market: 70
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Price Decreased: 38% of listings
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Price Increased: 1% of listings
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Relisted Properties: 20%
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Inventory: 149 properties
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Median Rent: $8,950/month
Market Segments
Sherman Oaks’ listings break down into four pricing segments:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,985,000 | 4,642 | 0.25 - 0.5 acre | 5 | 5 | 8 | 1 | 5 | 77 |
| $2,750,000 | 3,574 | 8,000 - 10,000 sqft | 4 | 4 | 52 | 1 | 1 | 91 |
| $2,299,000 | 2,597 | 6,500 - 8,000 sqft | 4 | 3.5 | 70 | 2 | 6 | 70 |
| $1,699,000 | 1,959 | 6,500 - 8,000 sqft | 3 | 2 | 73 | 2 | 6 | 63 |
Conclusion
Sherman Oaks remains slightly in favor of sellers, even as the market cools. With inventory down and demand steady, conditions could shift quickly if MAI rises again. Buyers may want to monitor closely for opportunities before pricing trends adjust.
Contact Information
For expert guidance and exclusive real estate opportunities in Sherman Oaks, contact:
📞 Andrew Spitz: (818) 453-9119 | ✉️ [email protected]
📞 Fran Chavez: (818) 517-1411 | ✉️ [email protected]
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