This week, the median list price for Sherman Oaks, CA is $2,696,750, with the Market Action Index (MAI) at 33, down slightly from last month’s MAI of 36. Inventory has remained stable around 110 properties. Click here to stay updated with the latest Sherman Oaks market trends!
Market Action Index
The Market Action Index measures the balance between supply and demand:
- Current MAI: 33 (Slight Seller’s Advantage)
- Last Month’s MAI: 36
The Sherman Oaks market continues to favor sellers, though the MAI has been on a gradual decline. If this trend continues, the balance could shift toward buyers.
Market Narrative
Sherman Oaks has experienced cooling in recent months, with prices holding steady. If the MAI trends upward again, we may see price increases. Conversely, a continued MAI decline or entry into the Buyer’s Market zone could place downward pressure on prices.
Real-Time Market Profile
Key metrics for the Sherman Oaks market this week:
- Median List Price: $2,696,750
- Median Price of New Listings: $2,522,500
- Price per Square Foot: $845
- Average Days on Market: 102
- Median Days on Market: 84
- Price Decreased: 58% of listings
- Price Increased: 0% of listings
- Relisted Properties: 29%
- Inventory: 110 properties
- Median Rent: $6,725 per month
Market Segments
Sherman Oaks properties are grouped into four segments, each representing roughly 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,995,000 | 5,015 | 8,000 - 10,000 sqft | 5 | 5.5 | 11 | 2 | 3 | 91 |
| $3,200,000 | 3,716 | 8,000 - 10,000 sqft | 5 | 4.5 | 48 | 1 | 2 | 77 |
| $2,322,000 | 3,073 | 6,500 - 8,000 sqft | 4 | 3.8 | 64 | 2 | 2 | 80 |
| $1,662,000 | 2,050 | 6,500 - 8,000 sqft | 3 | 2.3 | 72 | 3 | 4 | 77 |
Conclusion
With a slight seller’s advantage, Sherman Oaks continues to offer a stable market. Monitor the MAI closely, as future changes could signal shifts in pricing trends.
Contact Information
For personalized insights on Sherman Oaks real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay informed with the latest updates in the Sherman Oaks market!
