Is Sherman Oaks, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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
$1,400,000
$709/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sherman Oaks have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in Sherman Oaks was $1,400,000 in March 2024, down 1.9% from last year, and the median price per square foot was $709.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $540K | $498K | -7.8% |
| 2 Bedrooms | $730K | $766.5K | +5.0% |
| 3 Bedrooms | $1.4M | $1.3M | -4.9% |
| 4 Bedrooms | $2.0M | $1.9M | -3.0% |
| 5+ Bedrooms | $3.0M | $2.9M | -2.5% |
Summary: Sherman Oaks housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Beverly Glen | $2.5M | $3.1M | +23.3% |
| Sherman Oaks | $1.4M | $1.4M | -1.9% |
| Valleyheart Glen | $1.5M | $1.5M | -2.3% |
Housing Supply in Sherman Oaks, CA
How many homes are available in Sherman Oaks, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 177 | 214 | +20.9% |
Summary: The Sherman Oaks real estate market had 214 homes for sale in March 2024, a 20.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 47 | 59 | +25.5% |
| 3 Bedrooms | 42 | 56 | +33.3% |
| 4 Bedrooms | 46 | 44 | -4.3% |
| 5+ Bedrooms | 35 | 49 | +40.0% |
Summary: The Sherman Oaks housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 43 | -6.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
15 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. 44.2% of homes here sold below asking price last month.
Summary: A total of 43 homes were sold or pending in Sherman Oaks in March 2024, down by 6.5% month-over-month. Of the 43 sold homes, 44% were sold under asking, 21% were sold at asking, and 35% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 23 Days | -30.3% |
Summary: Homes in Sherman Oaks had an average of 23 days on market in Mar 2024, down by 30.3% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 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 March 2024, 43 homes were sold in Sherman Oaks; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% 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.