Nicole Costas' Market Report
Studio City, CA
Single-Family Homes
DRE #01049913 | 323-630-6976 |nicole@nicolecostas.com
Studio City, CA
Sat Sep 30 2023
This week the median list price for Studio City, CA is $2,195,000 with the market action index hovering around 45. This is less than last month's market action index of 46. Inventory has decreased to 47.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, 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 | $2,195,000 | |
| Median Price of New Listings | $2,095,000 | |
| Per Square Foot | $851 | |
| Average Days on Market | 76 | |
| Median Days on Market | 56 | |
| Price Decreased | 51% | |
| Price Increased | 13% | |
| Relisted | 23% | |
| Inventory | 47 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $5,495,000 | 4,800 | 8,000 - 10,000 sqft | 5 | 5 | 8 | 2 | 3 | 112 |
| $2,620,000 | 2,582 | 8,000 - 10,000 sqft | 4 | 3 | 66 | 1 | 6 | 28 |
| $1,950,499 | 2,368 | 6,500 - 8,000 sqft | 3 | 3 | 67 | 2 | 1 | 49 |
| $1,590,450 | 1,931 | 8,000 - 10,000 sqft | 3 | 2.5 | 68 | 2 | 2 | 80 |