Mon May 17 2021
This week the median list price for Studio City, CA 91604 is $2,395,000 with the market action index hovering around 44. This is less than last month's market action index of 47. Inventory has decreased to 55.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$2,395,000|
|Median Price of New Listings||$2,150,000|
|Per Square Foot||$768|
|Average Days on Market||101|
|Median Days on Market||42|
|Slight Seller's Advantage|
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,888,000||5,030||0.25 - 0.5 acre||5||6||44||2||2||77|
|$2,924,500||3,617||0.25 - 0.5 acre||5||5||45||2||2||59|
|$2,024,499||3,044||6,500 - 8,000 sqft||5||3||56||3||1||21|
|$1,568,500||2,006||8,000 - 10,000 sqft||3||2||66||2||1||21|