Real Estate Market Update for Sherman Oaks CA
As of 7/5/14 according to TheMLS.com in Sherman Oaks :
146 houses(sfr) for sale ⬆:
Min: $549,000 Max: $7,500,000 Avg: $960,000 Median: $1,099,000.
53 houses are pending in Escrow ⬇:
Min: $449,000 Max: $2,995,000 Avg: $791,000 Median: $825,000.
Sold( Last 30 days): 42 houses⬆:
Min: $515,000 Max: $2,725,000 ⬆️ Avg: $1,043,000 Median: $895,000.
43 houses are looking for backup.
Summary: there are more listings for sale comparing to previous months, yet the inventory is still very low. No significant changes in prices. It took, on average 50-80 days to sell the house( sfr).
75 condos for sale⬆️:
Min: $199,000 Max: $750,000 Avg: $442,000 Median: $429,000.
21 condos are pending in Escrow:
Min: $270,000 Max: $579,000 Avg: $407,000 Median: $389,000.
Sold: 21 houses⬆️:
Min: $277,000 Max: $525,000 Avg: $422,000 Median: $441,000.
15 condos are looking for backup.
Summary: There are more condos for sale, prices remain the same. Sales are still soft.
21 lots of land for sale⬆️:
Min: $80,000 Max: $3,600,000 Avg: $673,000 Median: $399,000.
3 lot are pending in Escrow and 1 is looking for backup:
Min: $130,000 Max: 1,325,000
There were no land sales in June.
29 properties are offered for rent, 31 are sold in last 30 days( shortage of rental properties!!!):
Min: $1,000 Max: $10,500 Avg: $4,250 Median: $3,100.
There are 6 income properties for sale:
Min: $750,000 Max: $6,500,000
4 income properties are pending, 5 are sold in June.
June/2014 Sherman Oaks sales summary:
The real estate trends in June 2014 shows that the housing inventory and prices are slightly increased, housing sales remain the same as in May( lower than expected).
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