The Luxury Real Estate Market in Tarzana, CA: A Detailed Overview

The Luxury Real Estate Market in Tarzana, CA: A Detailed Overview

Tarzana, CA, is currently experiencing a fascinating phase in its luxury real estate market. Here’s an in-depth look at the latest trends and data.

Current Market Snapshot

As of June 17, 2024:

  • Median List Price: $2,675,000
  • Median Price of New Listings: $1,897,499
  • Price Per Square Foot: $783
  • Average Days on Market: 73
  • Median Days on Market: 42
  • Inventory: 61 homes
  • Market Action Index: 42 (indicating a slight seller's advantage)

Market Segmentation

Tarzana's real estate market is segmented into four price tiers:

  1. Top Tier: Median price of $4,295,000, average home size of 6,200 sqft.
  2. Upper Tier: Median price of $2,900,000, average home size of 3,915 sqft.
  3. Lower Tier: Median price of $2,350,000, average home size of 2,762 sqft.
  4. Bottom Tier: Median price of $1,725,000, average home size of 2,012 sqft.

Market Trends

The market has cooled slightly, with prices remaining flat for several weeks. However, with a slight seller's advantage, there is potential for price increases if the market heats up again.

Conclusion

Tarzana's luxury real estate market is defined by high demand and limited inventory, offering a slight advantage to sellers. The diverse price tiers and spacious homes make it an attractive area for upscale living.

For more information, please call or email Andrew at (818) 453-9119 or Fran at (818) 517-1411, or email them at [email protected] or [email protected].

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Annually, Andrew and Fran are named one of America’s Best Real Estate Professional Teams by RealTrends as advertised in The Wall Street Journal ranking them in the top 1% of more than 1.6 million licensed Real Estate Agents. Locally, they are proud to be ranked among the Top 100 Real Estate Agents in LA County by the Los Angeles Business Journal, and honored to be named “Real Estate All Stars” by Los Angeles Magazine.

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