This week, the median list price for Woodland Hills, CA is $1,717,499, with the Market Action Index (MAI) at 41, down from last month's 43. Inventory has increased slightly to 144 homes. Stay informed with the latest updates on the Woodland Hills real estate market!
Market Action Index
The Market Action Index compares the rate of sales versus the amount of available inventory to answer “How’s the Market?”
- Current MAI: 41 (Slight Seller's Advantage)
- Last Month's MAI: 43
Woodland Hills remains in a slight seller’s market, although the market is cooling, with prices plateauing in recent weeks. Keep an eye on changes in the MAI. If it increases, expect prices to follow, but a further drop could lead to downward pressure on prices.
Market Narrative
The cooling market in Woodland Hills has resulted in a stable plateau in prices. Despite this, it remains a seller’s market due to limited inventory. Watch for MAI trends to anticipate future shifts—if demand rises, prices may climb; however, a drop in the index could signal a shift towards a buyer's market.
Real-Time Market Profile
Here’s a snapshot of the current Woodland Hills real estate market:
- Median List Price: $1,717,499
- Median Price of New Listings: $1,647,000
- Price per Square Foot: $686
- Average Days on Market: 100
- Median Days on Market: 70
- Price Decreased: 51% of listings
- Price Increased: 3% of listings
- Relisted Properties: 31%
- Inventory: 144 homes
- Median Rent: $5,875 per month
With over half of the listings seeing price decreases, buyers may find opportunities for negotiation. However, the slight seller’s advantage persists due to the low inventory.
Market Segments
Here’s a breakdown of Woodland Hills market into key segments, representing about 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,697,000 | 3,716 | 0.25 - 0.5 acre | 5 | 4.5 | 61 | 3 | 3 | 63 |
| $1,970,000 | 2,825 | 0.25 - 0.5 acre | 5 | 3.3 | 60 | 3 | 3 | 80 |
| $1,592,500 | 2,314 | 0.25 - 0.5 acre | 4 | 3 | 62 | 3 | 6 | 84 |
| $1,211,000 | 1,842 | 8,000 - 10,000 sqft | 3 | 2 | 63 | 5 | 9 | 45 |
This segmentation shows a range of property options for buyers, from larger luxury homes to smaller, more affordable options.
Conclusion
The Woodland Hills market is experiencing a slight seller's advantage, with inventory levels on the rise. While prices have stabilized, the market remains favorable for sellers due to low supply. Buyers should look out for properties with price decreases for negotiation opportunities.
Contact Information
For detailed insights and personalized advice on the Woodland Hills real estate market, reach out to the experts at Spitz Chavez Group:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for more updates on the Woodland Hills real estate market!
