This week, the median list price for Studio City, CA is $2,488,500, with the Market Action Index (MAI) at 34, up from last month’s 32. Inventory has decreased to 68 properties, reinforcing a slight Seller’s Advantage. Stay updated on Studio City real estate trends!
Market Action Index
The Market Action Index compares the rate of sales to inventory:
- Current MAI: 34 (Slight Seller’s Advantage)
- Last Month’s MAI: 32
Home sales continue to outpace supply, and the MAI has been trending upward for several weeks. If this pattern persists, expect upward pricing pressure in the near future.
Market Narrative
Studio City remains in a Seller’s Market, with demand rising and inventory shrinking. Buyers may face increased competition, while sellers could see stronger offers as market conditions favor them. If supply remains tight, prices may continue their upward trajectory.
Real-Time Market Profile
Key metrics for the Studio City market this week:
- Median List Price: $2,488,500
- Median Price of New Listings: $4,322,000
- Price per Square Foot: $926
- Average Days on Market: 132
- Median Days on Market: 102
- Price Decreased: 53% of listings
- Price Increased: 1% of listings
- Relisted Properties: 32%
- Inventory: 68 properties
- Median Rent: $12,000 per month
Market Segments
Studio City properties are grouped into four market segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,695,000 | 4,815 | 0.25 - 0.5 acre | 5 | 5.5 | 26 | 4 | 5 | 133 |
| $2,995,000 | 3,077 | 0.25 - 0.5 acre | 4 | 3 | 69 | 2 | 2 | 70 |
| $2,295,000 | 2,881 | 0.25 - 0.5 acre | 4 | 2.5 | 61 | 0 | 1 | 140 |
| $1,588,000 | 1,946 | 6,500 - 8,000 sqft | 3 | 2 | 77 | 0 | 1 | 77 |
Conclusion
Studio City remains a strong Seller’s Market, with increasing demand and limited inventory. Sellers should take advantage of favorable conditions, while buyers may need to act quickly to secure competitive properties before prices climb further.
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 ahead with the latest developments in Studio City real estate!
