This week, the median list price for Sherman Oaks, CA is $2,978,800, with the Market Action Index (MAI) at 33, up from last month’s 32. Inventory has increased to 97 properties, maintaining a slight seller’s advantage. Stay updated with the latest market trends!
Market Action Index
The Market Action Index compares the rate of sales to inventory:
- Current MAI: 33 (Slight Seller’s Advantage)
- Last Month’s MAI: 32
Although inventory has increased, demand remains strong enough to keep the market in favor of sellers. If this trend continues, upward price movements may follow.
Market Narrative
Sherman Oaks has reached a relative balance between supply and demand, with inventory levels still low enough to sustain a seller’s market. If sales activity accelerates, prices may continue to rise. Buyers should be prepared for competitive conditions, while sellers can take advantage of strong demand.
Real-Time Market Profile
Key metrics for this week in Sherman Oaks:
- Median List Price: $2,978,800
- Median Price of New Listings: $3,195,000
- Price per Square Foot: $890
- Average Days on Market: 114
- Median Days on Market: 98
- Price Decreased: 42% of listings
- Price Increased: 5% of listings
- Relisted Properties: 33%
- Inventory: 97 properties
- Median Rent: $13,000 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 |
|---|---|---|---|---|---|---|---|---|
| $4,035,000 | 4,666 | 8,000 - 10,000 sqft | 5 | 5.5 | 26 | 8 | 4 | 59 |
| $3,467,500 | 3,865 | 8,000 - 10,000 sqft | 5 | 4.8 | 16 | 6 | 2 | 133 |
| $2,550,000 | 3,174 | 6,500 - 8,000 sqft | 4 | 4 | 65 | 8 | 6 | 94 |
| $1,699,000 | 2,010 | 6,500 - 8,000 sqft | 3 | 2 | 73 | 3 | 4 | 84 |
Conclusion
The Sherman Oaks real estate market remains strong, with demand keeping prices stable and inventory slightly increasing. Buyers should act quickly, while sellers can still take advantage of favorable conditions.
Contact Information
For expert guidance on Sherman Oaks real estate, 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!
