This week, the median list price for Studio City, CA stands at $2,897,000, with the Market Action Index (MAI) holding steady at 36. This level indicates a slight seller's advantage, consistent with last month's MAI of 36. Inventory has seen a slight increase to 72 active listings. Stay informed with the Studio City market trends!
Market Action Index
The Market Action Index measures how quickly properties are selling in comparison to the inventory available, helping to gauge market balance.
- Current MAI: 36 (Slight Seller's Advantage)
- Last Month's MAI: 36
Despite the market showing signs of stabilization, we're still in a seller's market. If this trend persists, we may see a potential price increase in the near future. Keep an eye on the MAI for indications of a shift towards either the buyers' or sellers' advantage.
Market Narrative
The market is relatively stable in terms of sales to inventory ratios, with prices remaining steady for the past few weeks. The current inventory is low enough to keep us in the seller's market zone. Monitor changes in the MAI, as an uptick could signal a resumption of price growth.
Real-Time Market Profile
Stay updated with the current Studio City market stats:
- Median List Price: $2,897,000
- Median Price of New Listings: $2,675,000
- Price per Square Foot: $912
- Average Days on Market: 110
- Median Days on Market: 84
- Price Decreased: 49% of listings
- Price Increased: 1% of listings
- Relisted Properties: 31% of listings
- Inventory: 72 homes
- Median Rent: $10,000 per month
With almost half of the listings experiencing price reductions, there could be opportunities for buyers, although sellers maintain a slight edge.
Market Segments
Here's an analysis of the key market segments, representing approximately 25% of the market each:
| Median Price | Sq. Ft. | Lot Size | Beds | Baths | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,325,000 | 5,112 | 0.25 - 0.5 acre | 5 | 5.8 | 14 | 3 | 0 | 136 |
| $3,246,500 | 3,251 | 0.25 - 0.5 acre | 4 | 4 | 62 | 1 | 2 | 77 |
| $2,349,500 | 2,914 | 8,000 - 10,000 sqft | 4 | 3 | 59 | 3 | 1 | 91 |
| $1,724,950 | 1,941 | 6,500 - 8,000 sqft | 3 | 2 | 73 | 4 | 4 | 38 |
This segmentation illustrates the diversity of properties in Studio City, ranging from luxurious estates to more modest homes.
Conclusion
The Studio City real estate market remains in a slight seller’s market, with stable prices and a steady Market Action Index. Watch for any shifts in the MAI in the coming weeks, which will indicate if the current plateau will persist or if there will be a move towards a more buyer-friendly environment.
Contact Information
For personalized advice and more detailed information on the Studio City real estate market, reach out to your local experts at Spitz Chavez Group.
- Andrew: (818) 453-9119, [email protected]
- Fran: (818) 517-1411, [email protected]
Stay tuned for more market updates!
