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