Sherman Oaks Real Estate Market Update – February 2012

by Mario Acosta on February 16, 2012

in First-Time Home Buyers, How Much Is My Home Worth?, How's The Market, Investors, Sherman Oaks

Sherman Oaks Market Report for Zip Code 91403

Below is this week’s detailed market report for Sherman Oaks 91403 zip code.  Market trends in Sherman Oaks have remained relatively the same over the last 60 days.  Inventory did increase slightly after the new year, but is now dwindling since that initial increase.  Sherman Oaks home prices continue on a flat to slight downward trend.  Sellers, however,  may experience a slight bump in sales price as competition for the remaining available inventory heats up.

Many publications are calling 2012 the bottom for the real estate market.  Time will tell if those predictions are correct.

For buyers, particularly first-time buyers and investors, this is an amazing market and opportunity.  Interest rates are incredibly low, prices have been on a downtrend since 2007, and inventory is stable.  In addition, rental prices have been increasing for the last 12 months.  In some cases, buying in cheaper than renting.

For sellers, the recent contraction of inventory could bring a slight boost to sales price during the next 30 days.  Sellers may find that competing offers from buyers could result in homes selling closer to the original list price.  It is crucial that sellers price their homes to generate strong interest from multiple buyers.  Remember, it’s not where you start on price, it’s where you end up.

Check out the current list of Sherman Oaks homes in 91403.

Have a great week and contact me for more specific details regarding Sherman Oaks neighborhood trends.

 

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To receive a free market analysis estimating your home's value, just fill in the form below. I will analyze the data you provide and get back to you with comparable sale information for your neighborhood and a range of approximate values for your home. If you need a more precise valuation estimate, I will arrange to tour the property with you. All information you provide will be kept strictly confidential.
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