Studio City Real Estate Market Analysis

Studio City Real Estate Market Analysis

Market Overview
As of Wednesday, July 31, 2024


Current Market Conditions

The real estate market in Studio City, CA, is experiencing a slight seller's advantage. This balanced market condition suggests opportunities for both buyers and sellers.

Key Market Indicators:

  • Median List Price: $2,773,500
  • Median Price of New Listings: $2,699,000
  • Price per Square Foot: $947
  • Average Days on Market: 88
  • Median Days on Market: 56
  • Price Decreased: 46%
  • Price Increased: 6%
  • Relisted: 19%
  • Inventory: 80 homes
  • Median Rent: $10,000
  • Market Action Index: 36

The Market Action Index of 36 indicates a slight seller's advantage. This index has remained stable from last month, indicating consistent market conditions. The decrease in inventory to 80 homes shows a tightening market, which could favor sellers.

Price Analysis by Home Type

Below are detailed statistics on different types of properties in Studio City:

Median Price Sq. Ft. Lot Size Beds Baths Age New Absorbed DOM
$5,000,000 5,107 0.5 - 1 acre 5 5.5 25 1 0 87
$3,197,000 3,195 0.25 - 0.5 acre 4 4 61 3 3 66
$2,212,500 2,611 6,500 - 8,000 sqft 3 3 67 1 4 31
$1,397,000 1,640 6,500 - 8,000 sqft 3 2 72 4 2 59

Property Price Segmentation:

  • High-end properties in Studio City reach a median price of $5,000,000, offering expansive living spaces of over 5,000 sq. ft. on substantial lot sizes.
  • Mid-range properties typically have a median price of around $3,197,000, featuring large living areas and substantial amenities.
  • More affordable options have a median price of $1,397,000, providing more modest living spaces suitable for smaller families or those looking to downsize.

Days on Market (DOM): The average DOM for properties in Studio City is 88 days, with a median of 56 days. This indicates a market where properties may take longer to sell, giving buyers more time to make decisions.

Rental Market

The rental market in Studio City remains strong, with a median rent of $10,000. This reflects the high demand for rental properties in this desirable area.


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