This week, the median list price for Tarzana, CA is $2,350,000, with the Market Action Index (MAI) increasing to 37 from last month's 36, indicating a slight seller's advantage. The inventory has decreased to 59 active listings. Stay updated with the Tarzana market trends!
Market Action Index
The Market Action Index helps answer "How's the Market?" by comparing the rate of sales against the available inventory.
- Current MAI: 37 (Slight Seller's Advantage)
- Last Month's MAI: 36
Over the past few weeks, the Market Action Index has been climbing, showing a strengthening seller's market. Despite this, prices have yet to show an upward movement. However, with the current market conditions, we can expect prices to stabilize soon, with the possibility of a quick upward shift if this trend continues.
Market Narrative
The market has been showing some positive momentum, with a rising Market Action Index. Prices have not resumed an upward trend yet, but given the current conditions, they may start to level off. If the MAI continues to rise, a price increase could occur quickly.
Real-Time Market Profile
Stay informed with the latest data from the Tarzana market:
- Median List Price: $2,350,000
- Median Price of New Listings: $2,692,500
- Price per Square Foot: $755
- Average Days on Market: 67
- Median Days on Market: 56
- Price Decreased: 42% of listings
- Price Increased: 0% of listings
- Relisted Properties: 17% of listings
- Inventory: 59 homes
- Median Rent: $7,448 per month
A notable percentage of properties have seen price reductions recently, potentially creating opportunities for buyers, although sellers maintain a slight advantage.
Market Segments
Here’s an overview of the market segments, each representing roughly 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,997,475 | 5,677 | 0.25 - 0.5 acre | 5 | 6 | 8 | 3 | 1 | 59 |
| $2,995,000 | 3,806 | 0.25 - 0.5 acre | 5 | 4 | 62 | 1 | 1 | 56 |
| $2,100,000 | 2,721 | 0.25 - 0.5 acre | 4 | 3 | 55 | 2 | 3 | 28 |
| $1,375,000 | 1,830 | 6,500 - 8,000 sqft | 3 | 2 | 74 | 2 | 1 | 35 |
This breakdown highlights the variety of property types available in Tarzana, from luxurious estates to more modest family homes.
Conclusion
The Tarzana real estate market is currently showing a slight seller's advantage, with a rising Market Action Index indicating potential upward price movements in the near future. Buyers and sellers should keep an eye on this trend, as continued increases in the MAI could lead to a shift towards higher prices.
Contact Information
For personalized advice and more detailed information on the Tarzana real estate market, reach out to your local experts at Spitz Chavez Group.
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for more market updates!
