This week, the median list price for Tarzana, CA is $2,695,000, with the Market Action Index (MAI) holding steady at 37, the same as last month. Inventory has increased to 67 homes. Stay informed with updates on the Tarzana real estate market!
Market Action Index
The Market Action Index answers “How’s the Market?” by comparing the rate of sales versus available inventory.
- Current MAI: 37 (Slight Seller's Advantage)
- Last Month's MAI: 37
Tarzana remains in a seller’s market with stable prices over the past few weeks. While inventory has grown, it remains low enough to keep the market slightly in favor of sellers. Keep an eye on MAI trends, as an increase in demand could lead to rising prices.
Market Narrative
The market in Tarzana is currently stable, with little change in sales to inventory ratios. Prices have remained consistent, but low inventory continues to support the seller’s market. If buyer demand increases, we may see a climb in prices.
Real-Time Market Profile
Here’s a snapshot of the current Tarzana real estate market:
- Median List Price: $2,695,000
- Median Price of New Listings: $2,200,000
- Price per Square Foot: $768
- Average Days on Market: 76
- Median Days on Market: 56
- Price Decreased: 45% of listings
- Price Increased: 7% of listings
- Relisted Properties: 27%
- Inventory: 67 homes
- Median Rent: $7,500 per month
With a relatively low inventory and slight seller’s advantage, sellers still hold some power in the market. However, buyers may benefit from negotiating with properties that have seen price reductions.
Market Segments
Here’s a breakdown of the Tarzana market into key segments, representing about 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,922,497 | 5,386 | 0.25 - 0.5 acre | 5 | 6 | 24 | 2 | 2 | 80 |
| $2,999,000 | 3,620 | 0.25 - 0.5 acre | 4 | 4.5 | 59 | 2 | 2 | 56 |
| $2,200,000 | 3,000 | 0.25 - 0.5 acre | 4 | 3 | 56 | 2 | 1 | 63 |
| $1,450,000 | 1,776 | 4,500 - 6,500 sqft | 4 | 2 | 71 | 3 | 3 | 49 |
This segmentation shows a range of properties, from large luxury estates to more modest homes, giving both high-end buyers and those seeking smaller properties options in the market.
Conclusion
Tarzana continues to be a slight seller’s market with consistent prices and increasing inventory. Buyers looking for deals may find opportunities among the 45% of listings with price reductions, but overall, sellers maintain an advantage.
Contact Information
For detailed insights and personalized advice on the Tarzana real estate market, reach out to the experts at Spitz Chavez Group:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for more updates on the Tarzana real estate market!
