Pango Group

Van Nuys, CA 91406 - Lake Balboa

Single-Family Homes

www.pangogroup.com



Van Nuys, CA 91406 - Lake Balboa

Tue Jul 16 2024
This week the median list price for Van Nuys, CA 91406 - Lake Balboa is $914,000 with the market action index hovering around 53. This is less than last month's market action index of 58. Inventory has decreased to 26. Click here to stay informed with the Van Nuys market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Van Nuys, CA 91406 - Lake Balboa

Tue Jul 16 2024
This week the median list price for Van Nuys, CA 91406 - Lake Balboa is $914,000 with the market action index hovering around 53. This is less than last month's market action index of 58. Inventory has decreased to 26. Click here to stay informed with the Van Nuys market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Van Nuys market.
Median List Price $914,000
Median Price of New Listings $847,450
Per Square Foot $606
Average Days on Market 65
Median Days on Market 35
Price Decreased 38%
Price Increased 4%
Relisted 8%
Inventory 26
Median Rent
Market Action 53
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,224,500 2,263 6,500 - 8,000 sqft 4 3 70 0 0 56
$986,500 1,673 6,500 - 8,000 sqft 3 2.5 72 1 0 136
$895,000 1,281 4,500 - 6,500 sqft 3 2 72 1 0 14
$825,825 1,252 4,500 - 6,500 sqft 3 2 72 2 3 28