SAN FERNANDO VALLEY Market Intelligence Report Volume 7 | April 2021
SAN FERNANDO VALLEY MARKETS Encino
4
Sherman Oaks
6
Studio City
8
REAL ESTATE KEY TERMS MEDIAN PRICE: The price of the property that falls in the middle of the total number of properties sold in the given time period.
PRICE PER SQUARE FOOT: Measures the home’s sales price for an individual square foot.
PROPERTIES FOR SALE: The total number of available properties for sale.
DAYS ON MARKET (CLOSED SALES): The number of days a property is on the market prior to accepting an offer.
SALES RATIO: Defines market speed and determines whether the market currently favors buyers or sellers. A Buyer’s Market is a ratio from 0% to 14%; A Balanced market ratio is from 15 to 20%; A Seller’s Market ratio starts at 21% and up. If the sales ratio exceeds 100%, it means that the sales from previous month exceed current inventory.
The South Bay Market Intelligence Report is published monthly based on the data available at the start of each month. All data presented is based on data supplied by CRMLS. Neither the Associations of REALTORS® nor their MLS’s guarantees or is in any way responsible for its accuracy. Information is deemed reliable, but not guaranteed. Copyright © 2021.
ENCINO Located in the central portion of southern San Fernando Valley and on the north slope of the Santa Monica Mountains, Encino is a beautiful and affluent family-friendly neighborhood with impressive architecture and green spaces. With the expansive Sepulveda Basin recreation area, Encino Reservoir, Skirball Cultural Center, and Ventura Blvd all nearby, there is no shortage of avenues to revitalize the senses. Santa Monica Pier is just over a 20 minute drive and travelers can take advantage of both the Burbank Airport and LAX. Local employment opportunities exist in health care, social, and professional services and the commute to downtown Los Angeles is approximately 40 minutes.
ATTRACTIONS • Velodrome Racing Track
RESTAURANTS • Sepulveda Basin Recreation Area
• Los Encinos Historic Park
• Versailles
• The Stand
• The Nook
• Scratch Bar & Kitchen
• Ventura Boulevard • Lake Balboa
• Claudine Kitchen & Bakeshop • Tel Aviv Grill
MARKET SUMMARY
MARCH 2021 CURRENT INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
SOLD PRICE PER SQUARE FOOT
SALES RATIO
147
67
$862K
13
$496
46%
2020
110
52
$948K
28
$508
47%
PERCENT CHANGE
+34%
+29%
-9%
-54%
-3%
-4%
MARCH
2021 MARCH
13-MONTH TRENDS $1,450,000
$1,363,750 $1,200,000 $947,500
$965,000
$940,000
183
156
$1,055,000
$1,010,000
180
Mar-20
29
25
Apr-20
May-20
45
Jun-20
$1,010,000
186 153
83 52
$987,000
$862,000
198
121
110
$1,189,400
$1,180,000
Jul-21
72
Aug-20
88
Sep-20
147
133 93
Oct-20
67
Nov-20
91
115 68
Dec-20
71
55
49
Jan-21
Feb-21
67
Mar-21
SHERMAN OAKS Sherman Oaks offers the best of both worlds - a quiet and peaceful neighborhood setting with city comforts such as easy access to the 101 and 5 freeways and high end shopping and dining. Located in the Southern San Fernando Valley, Sherman Oaks is a centralized hub with a multitude of amenities within and nearby. The neighborhood includes a portion of The Santa Monica Mountains, which offers a lower population density than other greater Los Angeles neighborhoods. Housing includes a mix of residences, from classic single-story homes to multi-story modern architectural marvels as well as condos.
ATTRACTIONS
RESTAURANTS
• Sherman Oaks Galleria
• Tuesday Farmer's Market
• Anejo Cantina and Grill
• Spumoni Restaurant
• Fashion Square Mall
• Tunnel Bar, The One Up, The Local Peasant
• On the Thirty
• Pearl District
• The Sherman
• Panzanella Ristorante
• Sherman Oaks Park
MARKET SUMMARY
MARCH 2021 CURRENT INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
SOLD PRICE PER SQUARE FOOT
SALES RATIO
132
116
$1.13M
12
$560
88%
2020
130
71
$925K
14
$509
55%
PERCENT CHANGE
+2%
+63%
+22%
-14%
+10%
+61%
MARCH
2021 MARCH
13-MONTH TRENDS $1,228,620
$1,188,000
$925,000
$1,100,000
$1,025,000
$970,000
223
218
Mar-20
47
Apr-20
$1,300,000 $1,130,000
165
129 71
$1,305,000
203
172 130
$1,181,694
$987,500
225
223
$1,100,000
$1,175,000
99
104
Jul-21
Aug-20
103
111
69
96
113
142 85
79
132
71
70
Jan-21
Feb-21
116
35
May-20
Jun-20
Sep-20
Oct-20
Nov-20
Dec-20
Mar-21
STUDIO CITY Just over the hill from the Hollywood hustle, Studio City offers tree-lined streets that effortlessly blend quaint and trendy. Residents include celebrities who enjoy privacy as well as affluent entertainment professionals and suburban families. Local real estate offerings include luxurious hillside estates and mid-century architectural gems. Residents have access to scenic outdoor, sporting, and fine dining and shopping activities, as well as one of LA's finest theme parks, Universal Studios. Studio City is also famously the home of CBS Studios where many popular television shows have been filmed.
ATTRACTIONS
RESTAURANTS
• Universal Studios
• Weddington Golf & Tennis
• Mistral
• The Six Chow House
• Studio City Farmer's Market
• Mulholland Scenic Overlook
• Firefly Lounge
• Granville
• Decor Art Galleries
• Coldwater Canyon Park
• Sushi Katsu-Ya
• Lala's Argentine Grill
MARKET SUMMARY
MARCH 2021 CURRENT INVENTORY
TOTAL SALES
MEDIAN SALES PRICE
MEDIAN DAYS ON MARKET
SOLD PRICE PER SQUARE FOOT
SALES RATIO
107
67
$1.46M
11
$612
63%
2020
53
35
$1.23M
28
$603
66%
PERCENT CHANGE
+102%
+91%
+19%
-61%
+1%
-5%
MARCH
2021 MARCH
13-MONTH TRENDS $1,866,000 $1,520,000 $1,229,900
$1,511,000
$1,437,500
$1,122,500
$1,100,750
157 114
94 53
35
Mar-20
57 24
21
Apr-20
May-20
34
Jun-20
$1,128,500
$1,050,000
$960,000
146
121 61
Jul-21
45
Aug-20
144
$1,462,500
$1,383,000
$1,350,000
124
123
97
62
59
59
60
Sep-20
Oct-20
Nov-20
Dec-20
71
58
Jan-21
107 38
Feb-21
67
Mar-21
BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050
PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222
EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425
REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747
PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494
PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999
MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266 310.376.2225
TORRANCE 23740 Hawthorne Blvd. Torrance, CA 90505 310.378.9889
MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700
WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064 310.559.5570
MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 310.577.5300
WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000
W E A R E T H E COA S T
600+ Local Agents | 12 Offices Luxury Residential | Commercial Investment Division | International DRE: #01879720