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.
Contact Information
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
