Is Sherman Oaks, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Sherman Oaks has remained a Seller's Market.
Key Takeaway
Sherman Oaks is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sherman Oaks, CA
How much do homes in Sherman Oaks, CA cost?
Median Sold Price
$1,357,250
$694/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Sherman Oaks have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Sherman Oaks was $1,357,250 in November 2023, down 4.4% from last year, and the median price per square foot was $694.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $515K | $512K | -0.6% |
| 2 Bedrooms | $740.3K | $735K | -0.7% |
| 3 Bedrooms | $1.4M | $1.3M | -4.6% |
| 4 Bedrooms | $2.0M | $2.0M | +2.4% |
| 5+ Bedrooms | $3.0M | $3.0M | +1.6% |
Summary: Sherman Oaks housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Beverly Glen | $2.1M | $2.5M | +15.6% |
| Sherman Oaks | $1.4M | $1.3M | -4.4% |
Housing Supply in Sherman Oaks, CA
How many homes are available in Sherman Oaks, CA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 169 | 187 | +10.7% |
Summary: The Sherman Oaks real estate market had 187 homes for sale in November 2023, a 10.7% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 34 | 45 | +32.4% |
| 3 Bedrooms | 46 | 48 | +4.3% |
| 4 Bedrooms | 40 | 42 | +5.0% |
| 5+ Bedrooms | 44 | 48 | +9.1% |
Summary: The Sherman Oaks housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 32.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 38 | 45 | +18.4% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sherman Oaks, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Sherman Oaks in November 2023, up by 18.4% month-over-month. Of the 45 sold homes, 47% were sold under asking, 22% were sold at asking, and 31% were sold over asking.
Days on Market for Sherman Oaks, CA
How long does it take to sell a home in Sherman Oaks, CA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 37 Days | 21 Days | -42.0% |
Summary: Homes in Sherman Oaks had an average of 21 days on market in Nov 2023, down by 42% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sherman Oaks are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 45 homes were sold in Sherman Oaks; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.