First American Title
Studio City, CA
Single-Family Homes
Studio City, CA
Wed May 08 2024
This week the median list price for Studio City, CA is $3,200,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has increased to 64.
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 | $3,200,000 | |
| Median Price of New Listings | $3,172,500 | |
| Per Square Foot | $989 | |
| Average Days on Market | 91 | |
| Median Days on Market | 46 | |
| Price Decreased | 41% | |
| Price Increased | 2% | |
| Relisted | 20% | |
| Inventory | 64 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller's Advantage | ||
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. 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 |
|---|---|---|---|---|---|---|---|---|
| $5,385,000 | 5,172 | 0.25 - 0.5 acre | 5 | 5.5 | 6 | 1 | 0 | 52 |
| $3,574,500 | 3,914 | 0.25 - 0.5 acre | 5 | 5.5 | 47 | 3 | 1 | 31 |
| $2,889,500 | 2,666 | 8,000 - 10,000 sqft | 4 | 3.3 | 63 | 5 | 2 | 38 |
| $1,772,000 | 1,768 | 0.25 - 0.5 acre | 3 | 2 | 68 | 1 | 0 | 59 |