This week, the median list price for Sherman Oaks, CA is $2,699,900, with the Market Action Index (MAI) at 31, unchanged from last month. Inventory has decreased to 104 properties, maintaining a slight Seller’s Advantage. Stay informed on Sherman Oaks real estate trends!
Market Action Index
The Market Action Index compares the rate of sales to inventory:
- Current MAI: 31 (Slight Seller’s Advantage)
- Last Month’s MAI: 31
Sherman Oaks remains in the Seller’s Market zone. With inventory low and demand steady, the market has reached a relative balance. Further changes in the MAI could signal price shifts or adjustments in market dynamics.
Market Narrative
The Sherman Oaks market has stabilized, with steady pricing and reduced inventory levels. Sellers continue to benefit from a slight edge, but buyers should watch for opportunities among price-reduced or relisted properties.
Real-Time Market Profile
Key metrics for the Sherman Oaks market this week:
- Median List Price: $2,699,900
- Median Price of New Listings: $2,274,999
- Price per Square Foot: $848
- Average Days on Market: 122
- Median Days on Market: 112
- Price Decreased: 60% of listings
- Price Increased: 0% of listings
- Relisted Properties: 35%
- Inventory: 104 properties
- Median Rent: $7,500 per month
Market Segments
Sherman Oaks properties are grouped into four distinct segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,892,500 | 5,181 | 8,000 - 10,000 sqft | 5 | 5.8 | 5 | 2 | 0 | 126 |
| $3,144,500 | 3,810 | 8,000 - 10,000 sqft | 5 | 4.8 | 45 | 1 | 2 | 105 |
| $2,325,000 | 2,932 | 6,500 - 8,000 sqft | 4 | 3.3 | 68 | 2 | 3 | 91 |
| $1,587,500 | 1,917 | 6,500 - 8,000 sqft | 3 | 2 | 72 | 3 | 3 | 112 |
Conclusion
The Sherman Oaks market remains steady with a slight Seller’s Advantage. Buyers can explore opportunities among price-reduced or relisted properties, while sellers should focus on strategic pricing to capitalize on the market’s current balance.
Contact Information
For expert insights into Sherman Oaks real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay updated with the latest trends in Sherman Oaks real estate!
