March 2024 Real Estate Market Report: Tarzana Single-Family Home Sales Analysis

by Kevin Maalizadeh · March 12, 2024

Last updated on May 7th, 2024 at 01:08 pm

As we step into March, it’s crucial for homeowners in Tarzana (Zip code 91356) to have a comprehensive understanding of the local real estate market. Whether you’re considering selling your home or simply want to stay informed about property trends, this article will provide an insightful analysis of single-family home sales in Tarzana for the previous month, offering valuable data and insights to guide your decisions.

Sales Data Overview:

Let’s dive into the numbers to grasp the current state of the Tarzana housing market. Leveraging data from the Multiple Listing Service (MLS), we’ll explore key metrics from February 2024:

1. 1. 1. Number of Homes on the Market: In February, Tarzana witnessed 50 single-family homes listed on the market (8.7% increase), reflecting the inventory available to potential buyers.
    2. New Single-Family Listings: Throughout the month of February, Tarzana saw 28 new single-family home listings (40% increase), indicating ongoing activity in the real estate market.
    3. Median Sold Price of Single-Family Homes: The median price of single-family homes in Tarzana stood at approximately $2,600,000 (67.7% increase) in February of 2024, showcasing the average value of properties in the area.
      </ifram</p><li><strong>Price Range: </strong> From affordable starter homes to luxurious estates, the price range for single-family properties in Tarzana varied, with prices ranging from $914,000 to $6,010,000.</li><li><strong>Median Price per Square Foot: </strong>On average, single-family homes in <strong>Tarzana were priced at $575 per square foot (-16.5% decrease)</strong>, offering insight into the cost per unit area.<div style="text-align: center; margin: 25px auto;"><iframe loading="lazy" style="border: 0;" src="https://crmls.stats.10kresearch.com/infoserv/s-v1/phdV-kvO?w=700&h=525" width="700" height="525">

Median Days on the Market: Homes in Tarzana typically spent 9 days on the market before being sold, reflecting the average duration of property listings.

Key Insights:

Analyzing the sales data from February 2024 provides several key insights for homeowners and potential sellers in Tarzana:

Despite fluctuations in inventory, the market remains active, with new listings entering the market regularly.
The median price and price range offer a comprehensive view of the diverse housing options available in Tarzana, catering to various buyer preferences and budgets.
Understanding the average days on the market can help sellers gauge the timing of their listing and anticipate the duration of the selling process.
With favorable market conditions, now may be an opportune time for homeowners to consider listing their properties in Tarzana.

Conclusion:

In conclusion, staying informed about local real estate trends is essential for making informed decisions, particularly when considering selling your home in Tarzana. By examining the sales data and insights provided in this article, homeowners can gain valuable knowledge to navigate the market with confidence.

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