This week, the median list price for Studio City, CA is $2,485,000, with the Market Action Index (MAI) holding steady at 32, unchanged from last month. Inventory has decreased to 73 properties, maintaining a slight Seller’s Advantage. Stay informed on the latest Studio City real estate trends!
Market Action Index
The Market Action Index (MAI) compares the rate of sales to inventory:
- Current MAI: 32 (Slight Seller’s Advantage)
- Last Month’s MAI: 32
Studio City remains in the Seller’s Market zone. Despite a cooling market, with more homes becoming available and a slight decrease in demand, sellers still maintain a slight edge. A continued drop in the MAI could signal further price reductions, while an uptick could indicate rising prices.
Market Narrative
The Studio City market has been cooling off recently, with inventory on the rise and demand slowing down. Prices are already beginning to reflect this shift, and this trend may continue if the MAI falls further into the Buyer’s Market zone. Watch for a turnaround in market activity to signal potential price increases.
Real-Time Market Profile
Key metrics for Studio City this week:
- Median List Price: $2,485,000
- Median Price of New Listings: $1,350,000
- Price per Square Foot: $944
- Average Days on Market: 124
- Median Days on Market: 91
- Price Decreased: 58% of listings
- Price Increased: 0% of listings
- Relisted Properties: 25%
- Inventory: 73 properties
- Median Rent: $8,625 per month
Market Segments
Studio City properties are divided into four main market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,245,000 | 4,099 | 0.25 - 0.5 acre | 5 | 5.5 | 7 | 1 | 5 | 136 |
| $3,047,000 | 3,318 | 8,000 - 10,000 sqft | 4 | 4 | 49 | 0 | 1 | 87 |
| $2,255,000 | 2,833 | 8,000 - 10,000 sqft | 4 | 2.5 | 64 | 0 | 1 | 122 |
| $1,588,000 | 1,558 | 6,500 - 8,000 sqft | 3 | 2 | 74 | 2 | 1 | 42 |
Conclusion
The Studio City market has cooled slightly, with more inventory and slowing demand. However, the market remains in a slight Seller’s Advantage. Buyers should be on the lookout for opportunities among price-reduced or relisted properties, while sellers should consider strategic pricing to maximize their position in the current market.
Contact Information
For expert insights into Studio City real estate, contact the Spitz Chavez Group:
- Andrew: (818) 453-9119 | [email protected]
- Fran: (818) 517-1411 | [email protected]
Stay updated with the latest trends in Studio City real estate!
