Overview
The Studio City real estate market exhibits a diverse range of properties and prices, making it a dynamic and competitive landscape. Below is a detailed report based on the latest data, providing insights into the current state of the market.
Key Market Indicators
- Median List Price: $2,995,000
- Median Price of New Listings: $3,560,000
- Price per Square Foot: $1,007
- Average Days on Market: 83
- Median Days on Market: 56
- Price Decreased: 41%
- Price Increased: 2%
- Relisted: 19%
- Inventory: 81
- Median Rent: $10,000
- Market Action Index: 35 (Slight Seller's Advantage)
Detailed Property Data
| Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | Days on Market |
|---|---|---|---|---|---|---|---|---|
| $5,196,500 | 5,107 | 0.25 - 0.5 acre | 5 | 5.5 | 14 | 2 | 1 | 56 |
| $3,339,500 | 3,404 | 0.25 - 0.5 acre | 4 | 4.3 | 61 | 1 | 1 | 70 |
| $2,347,000 | 2,731 | 6,500 - 8,000 sqft | 3 | 3 | 62 | 0 | 2 | 28 |
| $1,649,000 | 1,618 | 6,500 - 8,000 sqft | 3 | 2 | 74 | 1 | 2 | 56 |
Market Analysis
Median List Price and New Listings
The median list price in Studio City is $2,995,000, while the median price of new listings is significantly higher at $3,560,000. This indicates a trend where newer properties entering the market are priced higher, reflecting either higher property values or the addition of more luxurious properties.
Price Per Square Foot
The average price per square foot stands at $1,007. This metric helps potential buyers compare properties of different sizes, giving a clearer picture of property value relative to size.
Days on Market
Properties in Studio City spend an average of 83 days on the market, with a median of 56 days. This suggests that while some properties sell quickly, others may take longer to find the right buyer.
Pricing Trends
- Price Decreased: 41% of properties have seen a price reduction, indicating some flexibility in the market.
- Price Increased: Only 2% of properties have had a price increase, suggesting that sellers are not frequently adjusting prices upwards.
- Relisted Properties: 19% of properties have been relisted, which could indicate that some properties were withdrawn and later re-entered the market, possibly after adjustments or renovations.
Inventory and Market Action
The current inventory of 81 properties suggests a reasonably balanced market. However, with a Market Action Index of 35, there is a slight seller's advantage, meaning that while the market is competitive, sellers may have a slight upper hand in negotiations.
Detailed Property Profiles
-
Luxury Estate
- Price: $5,196,500
- Size: 5,107 sq. ft.
- Lot Size: 0.25 - 0.5 acre
- Beds/Baths: 5/5.5
- Age: 14 years
- New Listings: 2
- Days on Market: 56
-
Spacious Family Home
- Price: $3,339,500
- Size: 3,404 sq. ft.
- Lot Size: 0.25 - 0.5 acre
- Beds/Baths: 4/4.3
- Age: 61 years
- New Listings: 1
- Days on Market: 70
-
Modern Townhouse
- Price: $2,347,000
- Size: 2,731 sq. ft.
- Lot Size: 6,500 - 8,000 sqft
- Beds/Baths: 3/3
- Age: 62 years
- New Listings: 0
- Days on Market: 28
-
Classic Bungalow
- Price: $1,649,000
- Size: 1,618 sq. ft.
- Lot Size: 6,500 - 8,000 sqft
- Beds/Baths: 3/2
- Age: 74 years
- New Listings: 1
- Days on Market: 56
Contact Information
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
