Pango Group
Studio City, CA
Single-Family Homes
www.pangogroup.com
Studio City, CA
Fri Jul 26 2024
This week the median list price for Studio City, CA is $2,630,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has held steady at or around 80.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $2,630,000 | |
| Median Price of New Listings | $2,211,944 | |
| Per Square Foot | $947 | |
| Average Days on Market | 86 | |
| Median Days on Market | 56 | |
| Price Decreased | 48% | |
| Price Increased | 4% | |
| Relisted | 20% | |
| Inventory | 80 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,924,000 | 5,107 | 0.25 - 0.5 acre | 5 | 5.5 | 14 | 0 | 2 | 87 |
| $3,247,000 | 3,195 | 0.25 - 0.5 acre | 4 | 4 | 61 | 2 | 3 | 70 |
| $2,212,500 | 2,696 | 6,500 - 8,000 sqft | 3 | 3 | 67 | 4 | 2 | 31 |
| $1,612,000 | 1,669 | 8,000 - 10,000 sqft | 3 | 2 | 71 | 2 | 2 | 59 |