The median list price in STUDIO CITY, CA 91604 this week is $1,450,000. The 83 properties have been on the market for an average of 110 days.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Median Price
While this week the median price in this zip code didn't fluctuate much, we continue to sit at all time high prices. Watch for persistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding.
Studio City Homes for Rent: www.Homes4RentinLA.com
Studio City Homes for Sale: www.StudioCityBrian.com
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