This week, the median list price for Toluca Lake, CA 91602 is $3,397,000, with the Market Action Index (MAI) at 34, down from last month’s 38. Inventory has increased to 14 properties, maintaining a slight seller’s advantage. Stay informed with the latest Toluca Lake market trends!
Market Action Index
The Market Action Index tracks supply and demand balance:
- Current MAI: 34 (Slight Seller’s Advantage)
- Last Month’s MAI: 38
The market has started to cool, with supply increasing and demand softening. If this trend continues, prices may adjust downward in the coming weeks. However, Toluca Lake remains in a seller’s market, meaning prices have not yet been impacted.
Market Narrative
Toluca Lake’s real estate market is showing signs of slowing, though sellers still hold the advantage. If demand continues to slacken, we may see prices level off or decline in the near future. Buyers may find more negotiation opportunities, while sellers should act quickly before conditions shift further.
Real-Time Market Profile
Key market data for Toluca Lake this week:
- Median List Price: $3,397,000
- Median Price of New Listings: $3,995,000
- Price per Square Foot: $904
- Average Days on Market: 130
- Median Days on Market: 60
- Price Decreased: 36% of listings
- Price Increased: 7% of listings
- Relisted Properties: 21%
- Inventory: 14 properties
- Median Rent: $7,113 per month
Market Segments
Toluca Lake properties are categorized into four key segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,995,000 | 5,300 | 6,500 - 8,000 sqft | 5 | 4.5 | 3 | 0 | 0 | 280 |
| $3,995,000 | 4,030 | 8,000 - 10,000 sqft | 3 | 4.5 | 4 | 2 | 0 | 0 |
| $3,297,000 | 3,548 | 6,500 - 8,000 sqft | 4 | 4.3 | 3 | 0 | 0 | 73 |
| $2,122,500 | 2,700 | 4,500 - 6,500 sqft | 3 | 3 | 91 | 1 | 0 | 45 |
Conclusion
Toluca Lake’s market is beginning to show signs of cooling, with rising inventory and a declining MAI. While it remains a seller’s market for now, if demand weakens further, price adjustments could follow. Buyers may have more negotiating power soon, while sellers should monitor the trend closely.
Contact Information
For expert insights and real estate opportunities in Toluca Lake, reach out to the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay ahead with the latest market insights in Toluca Lake!
