Price Cuts Low Point in Encino Real Estate Market

A three-week downturn in the number of homes sold was extended this week after the Encino market had 73 transactions over the last 30 days. With 73 price reductions, the lowest amount since July, the market may be looking for a price bottom. When comparing other close-by neighborhoods within the same period, the most came from the Northridge neighborhood with 80 price reductions. Potential buyers should note that there are now four months of inventory available in Encino and prices have come down. The median sales price dropped to $632,500.

Trying to find a more traditional home in Encino? Then check out these listings that were built before most others in the market:

$759K   $1.8M   $5M  

Get started right now by checking out Encino homes for sale or reviewing Encino real estate trends.

Demographic facts about Encino:

  • The population growth rating is 61. (Scale: 1 = Worst, 100 = Best)
  • This area has a property tax of $7.73/$1,000.
  • Here are some of the distributions of commute times for the area: <15 min (17.3%), 15-29 min (34.5%), 30-44 min (27.3%), 45-59 min (10.6%), >60 min (10.3%).

Data reported through 10/12/2016

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