Pango Group
Porter Ranch, CA
Single-Family Homes
www.pangogroup.com
Porter Ranch, CA
Thu May 09 2024
This week the median list price for Porter Ranch, CA is $1,764,500 with the market action index hovering around 50. This is about the same as last month's market action index of 50. Inventory has increased to 58.
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
| Median List Price | $1,764,500 | |
| Median Price of New Listings | $1,350,000 | |
| Per Square Foot | $618 | |
| Average Days on Market | 46 | |
| Median Days on Market | 21 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 12% | |
| Inventory | 58 | |
| Median Rent | ||
| Market Action | 50 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,622,500 | 5,451 | 0.25 - 0.5 acre | 5 | 6 | 1 | 3 | 1 | 28 |
| $2,537,000 | 4,149 | 8,000 - 10,000 sqft | 5 | 6 | 2 | 1 | 3 | 63 |
| $1,550,000 | 2,303 | 0.25 - 0.5 acre | 4 | 3 | 6 | 3 | 4 | 21 |
| $1,125,000 | 2,046 | 0.25 - 0.5 acre | 4 | 3 | 58 | 6 | 5 | 7 |