This week, the median list price for Tarzana, CA is $2,298,000, with the Market Action Index (MAI) at 33, down from last month’s 35. Inventory has decreased to 57 properties, signaling a gradual cooling in the market. Stay informed on the latest Tarzana real estate trends!
Market Action Index
The Market Action Index measures the balance of supply and demand:
- Current MAI: 33 (Slight Seller’s Advantage)
- Last Month’s MAI: 35
While Tarzana remains in a Seller’s Market, the decreasing MAI indicates a softening in demand. Further drops in the MAI could shift the market dynamic toward buyers, while a rebound may signal price increases.
Market Narrative
The Tarzana market has cooled over recent weeks, with prices plateauing and inventory declining slightly. Sellers maintain a slight advantage, but buyers may find more negotiation opportunities, especially among properties with price reductions or extended time on the market.
Real-Time Market Profile
Key metrics for the Tarzana market this week:
- Median List Price: $2,298,000
- Median Price of New Listings: $2,873,500
- Price per Square Foot: $748
- Average Days on Market: 101
- Median Days on Market: 77
- Price Decreased: 49% of listings
- Price Increased: 4% of listings
- Relisted Properties: 33%
- Inventory: 57 properties
- Median Rent: $8,498 per month
Market Segments
Tarzana’s properties are grouped into four distinct market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,722,497 | 5,223 | 0.25 - 0.5 acre | 5 | 5.5 | 19 | 2 | 0 | 73 |
| $2,835,000 | 3,390 | 0.25 - 0.5 acre | 4 | 3.5 | 55 | 2 | 2 | 84 |
| $2,024,500 | 2,798 | 0.25 - 0.5 acre | 4 | 3 | 58 | 2 | 0 | 84 |
| $1,500,000 | 1,830 | 6,500 - 8,000 sqft | 4 | 2 | 70 | 0 | 1 | 84 |
Conclusion
The Tarzana market retains a slight Seller’s Advantage, but cooling demand and stable inventory suggest a shift may be on the horizon. Sellers should focus on competitive pricing, while buyers can leverage price reductions and relisted properties for potential deals.
Contact Information
For personalized insights on Tarzana real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead with the latest updates on Tarzana’s real estate market!
