The Studio City real estate market trends October 2019 verse 2018. If you live in Studio City or thinking of buying a house or condo, you need to review current pricing trends.
Is the Studio City housing prices going UP, DOWN or is the market STABLE?
It is really important to know what the trends are so you can make a good investment.
[callout]If you are thinking, “Hey Jay, I can find this info on Zillow.”
Well, there are numbers on Zillow, but they can be off by as much as 30% of the true market value of a home.
I wrote an article on Zillow on one of my other real estate websites entitled “Zillow, The Trojan Horse That Nobody Saw Coming“. Then, as a consumer, you will get some insights into what they are really doing.[/callout]
Back to Studio City Real Estate Market October 2019 Numbers
But for today, let’s focus on the Studio City real estate market October 2019. What sold by property type to give you true insights?
Here are the latest sales for October 2019 in this table below:
Reviewing the Studio City Real Estate Statistics
For Studio City homes, the average price of $1,937,528 is up 7.4% over 2018 numbers when the price was $1,804,703.
Studio City condos, the average selling price was $667,509 that is 1.0% lower than 2018. In 2018, the average selling price was $674,303. For that, I would look at how much inventory or months of supply is available for sale and what percentage of the listed price are condos selling for.
In 2018, there was 1.6 months of condos for sale in Studio City. In 2019, there are more condos for sale. 2.7 months of supply. More competition tends to bring pricing down. While it is only 1% lower…it is a trend to follow.
The percentage of the listing price tells you how motivated a home seller in Studio City is or if demand for condos is hot like it was in 2018. In 2019, Studio City condos were selling for 99.10% verse 101.0% in 2018. If properties are selling for full price, then the List to Sell Ratio is at 100%.
Studio City townhomes are selling for $702,980 in 2019 verse $652,860. That is up 7.70%. Townhomes tend to be larger in square footage than condos.