Studio City, CA, is renowned for its luxurious living and high-end real estate. Here’s a deep dive into the latest trends and data defining this exclusive area.
Current Market Snapshot
As of June 17, 2024:
- Median List Price: $2,997,499
- Median Price of New Listings: $3,098,999
- Price Per Square Foot: $958
- Average Days on Market: 83
- Median Days on Market: 35
- Inventory: 80 homes
- Market Action Index: 36 (indicating a slight seller's advantage)
Market Segmentation
Studio City's real estate market is segmented into four price tiers:
- Top Tier: Median price of $4,995,000, average home size of 5,107 sqft.
- Upper Tier: Median price of $3,339,500, average home size of 3,214 sqft.
- Lower Tier: Median price of $2,285,000, average home size of 2,485 sqft.
- Bottom Tier: Median price of $1,447,000, average home size of 1,740 sqft.
Market Trends
The market has balanced sales and inventory, but the low inventory maintains a seller’s market condition, suggesting potential for price increases if the market heats up.
Conclusion
Studio City's luxury real estate market is characterized by high demand and low inventory, offering a slight advantage to sellers. The diverse price tiers and architectural styles make it an attractive area for various buyers seeking upscale living.
For more information, please call or email Andrew at (818) 453-9119 or Fran at (818) 517-1411, or email them at [email protected] or [email protected].
