Your Real Estate Market Update
Studio City, CA
Single-Family Homes
Arminé Ghevian ♦ 818-389-4465 ♦ DRE: 00945233
Studio City, CA
Thu Apr 25 2024
This week the median list price for Studio City, CA is $3,295,000 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has increased to 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $3,295,000 | |
| Median Price of New Listings | $2,495,000 | |
| Per Square Foot | $1,017 | |
| Average Days on Market | 95 | |
| Median Days on Market | 56 | |
| Price Decreased | 34% | |
| Price Increased | 4% | |
| Relisted | 25% | |
| Inventory | 53 | |
| Median Rent | ||
| Market Action | 37 | |
| Slight Seller's Advantage | ||
Prices are climbing and we’re nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,500,000 | 5,231 | 0.5 - 1 acre | 5 | 6.5 | 10 | 1 | 1 | 42 |
| $3,895,000 | 3,887 | 0.25 - 0.5 acre | 5 | 4.5 | 47 | 0 | 1 | 49 |
| $2,649,999 | 2,657 | 0.25 - 0.5 acre | 4 | 3.5 | 64 | 1 | 3 | 91 |
| $1,719,500 | 1,714 | 0.25 - 0.5 acre | 3 | 2 | 71 | 2 | 0 | 52 |