This week, the Studio City, CA real estate market is holding steady, with the median list price at $2,897,000. The Market Action Index (MAI) remains unchanged from last month, sitting at 36, indicating a consistent market dynamic. Meanwhile, inventory has dropped slightly, with 68 active listings on the market.
Understanding the Market Action Index
The Market Action Index provides a snapshot of the market by comparing the rate of sales with the available inventory.
- Current MAI: 36 (Slight Seller's Advantage)
- Last Month's MAI: 36
Though the market has plateaued, we’re still in a seller’s market, meaning that if this trend continues, prices could resume their upward climb. A close watch on the MAI will reveal whether sellers maintain their edge or if buyers may start to gain ground.
Real-Time Market Profile
Here’s a breakdown of the real-time data for Studio City:
- Median List Price: $2,897,000
- Median Price of New Listings: $2,945,000
- Price per Square Foot: $916
- Average Days on Market: 109
- Median Days on Market: 74
- Price Decreased: 46% of listings
- Price Increased: 1% of listings
- Relisted Properties: 24% of listings
- Inventory: 68 homes
- Median Rent: $10,000 per month
With almost half of the properties seeing price reductions, this could indicate opportunities for buyers, while sellers still hold a slight advantage.
Market Narrative: A Plateau in Prices
While the Market Action Index has shown some strengthening over the past few weeks, prices in Studio City appear to have settled into a plateau. The market is currently favorable to sellers, and if the MAI continues to rise, we may see prices start to climb again. However, if the MAI dips, there could be a shift toward a more buyer-friendly environment.
Market Segments
To better understand how the market is performing across different price ranges, here’s a breakdown of key segments. Each represents approximately 25% of the market.
| Median Price | Square Feet | Lot Size | Beds | Baths | Age | New Listings | Absorbed | Days on Market |
|---|---|---|---|---|---|---|---|---|
| $5,500,000 | 5,006 | 0.25 - 0.5 acre | 5 | 5.5 | 19 | 1 | 2 | 133 |
| $3,100,000 | 3,202 | 0.25 - 0.5 acre | 4 | 4 | 63 | 2 | 1 | 98 |
| $2,390,000 | 2,930 | 6,500 - 8,000 sqft | 4 | 3 | 55 | 1 | 1 | 77 |
| $1,695,000 | 1,882 | 4,500 - 6,500 sqft | 3 | 2 | 71 | 2 | 5 | 35 |
This segment breakdown illustrates the wide range of property types in Studio City, from expansive luxury homes to more modest single-family residences.
Conclusion
The Studio City real estate market remains in a slight seller’s market, with stable prices and a steady Market Action Index. Both buyers and sellers should watch for changes in the coming weeks, as shifts in the MAI will indicate whether the current market plateau persists or moves toward favoring one side more than the other.
Contact Information
For personalized advice and detailed information, contact your local real estate experts at Spitz Chavez Group.
For more information or to explore similar properties, please contact:
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Market Action Index Graph:
