Tarzana, CA Real Estate Market Analysis

Tarzana, CA Real Estate Market Analysis

Market Overview

As of Wednesday, July 31, 2024

Current Market Conditions

The real estate market in Tarzana, CA, is experiencing a slight seller's advantage. This condition suggests favorable opportunities for sellers, while buyers may face increased competition.

Key Market Indicators:

  • Median List Price: $2,489,000
  • Median Price of New Listings: $2,249,500
  • Price per Square Foot: $735
  • Average Days on Market: 58
  • Median Days on Market: 53
  • Price Decreased: 48%
  • Price Increased: 3%
  • Relisted: 14%
  • Inventory: 66 homes
  • Median Rent: $8,250
  • Market Action Index: 34

The Market Action Index of 34 indicates a slight seller's advantage. This index has remained stable, indicating consistent market conditions. The inventory of 66 homes shows a relatively balanced market but with a tilt towards sellers.

Price Analysis by Home Type

Below are detailed statistics on different types of properties in Tarzana:

Median Price Sq. Ft. Lot Size Beds Baths Age New Absorbed DOM
$3,992,500 5,494 0.25 - 0.5 acre 5 6.5 14 0 0 63
$2,900,000 3,712 0.25 - 0.5 acre 4 4.3 64 2 0 52
$1,995,000 2,955 0.25 - 0.5 acre 4 4 59 1 1 70
$1,489,000 2,145 8,000 - 10,000 sq. ft. 4 3 65 1 1 28

Property Price Segmentation:

  • High-end properties in Tarzana reach a median price of $3,992,500, offering expansive living spaces of over 5,000 sq. ft. on substantial lot sizes.
  • Upper-mid range properties have a median price of $2,900,000, featuring large living areas and substantial amenities.
  • Mid-range properties typically have a median price of $1,995,000, offering generous living spaces and amenities.
  • Entry-level properties provide more modest living spaces with a median price of $1,489,000, suitable for smaller families or those looking to downsize.

Days on Market (DOM)

The average DOM for properties in Tarzana is 58 days, with a median of 53 days. This indicates a market where properties are selling at a moderate pace, giving buyers time to make decisions.

Rental Market

The rental market in Tarzana remains strong, with a median rent of $8,250. This reflects the high demand for rental properties in this desirable area.

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