Market Conditions
The Studio City market currently leans towards sellers, with a Market Action Index of 35. This indicates a slight seller's advantage. The number of available homes for sale (inventory) has also increased slightly to 57.
Market Trends
- Prices: Analysis shows that home prices in Studio City are trending upwards and are nearing record highs.
- Inventory: There's been a small increase in the number of homes on the market compared to previous periods. However, overall inventory remains low.
- Market Action: The Market Action Index is a useful tool to gauge market conditions. If this index starts to consistently drop into the Buyer's Market zone, it could signal a potential shift where buyer leverage might increase.
Market Data
The report offers a variety of data points to understand the current market climate:
- Median List Price: This is the middle price point of all homes currently listed for sale.
- Price per Square Foot: This metric provides an idea of pricing based on home size.
- Days on Market: This reflects how long a property typically stays on the market before selling.
- Price Movement: The report also includes insights into how asking prices are shifting.
- Rental Market: The median rent for properties in Studio City.
Market Segments
The report dives deeper by providing details on various property segments within the zip code. This breakdown helps potential buyers and sellers understand the different property types available in Studio City. The data ranges from luxury estates exceeding $5 million to properties under $2 million, highlighting the diverse offerings in the market.
Summary
The Studio City real estate market continues to favor sellers, with continued growth in home prices. While the number of available homes has grown slightly, overall inventory remains low. Buyers and sellers should keep an eye on the Market Action Index, as a shift towards a buyer's market could be on the horizon based on this metric. This update aims to equip you with the latest market information to make informed real estate decisions in Studio City.
Data : Studio City, CA 91604
