Wed Sep 22 2021
This week the median list price for Studio City, CA 91604 is $2,349,500 with the market action index hovering around 51. This is about the same as last month's market action index of 51. Inventory has decreased to 42.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$2,349,500|
|Median Price of New Listings||$2,199,000|
|Per Square Foot||$835|
|Average Days on Market||95|
|Median Days on Market||42|
|Strong Seller's Market|
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,895,000||5,155||0.25 - 0.5 acre||5||4||39||1||0||73|
|$2,945,000||3,487||0.25 - 0.5 acre||5||4||60||3||2||45|
|$2,099,000||3,200||8,000 - 10,000 sqft||4||3||53||3||1||42|
|$1,395,000||1,750||4,500 - 6,500 sqft||3||2||73||4||3||28|