The Best of The Best - Studio City Real Estate
At Fred Herrman Real Estate, we believe in helping you move to a better place, and Studio City is undoubtedly one of the best places to live in all of Los Angeles County. Because of its proximity to Los Angeles and Hollywood, Studio City has become a famous spot for celebrities and motion picture professionals to settle down near the Santa Monica Mountains.
Are you interested in looking for your dream home in Studio City? Fred Herrman is your go-to professional for all things Studio City and real estate. In addition to knowing the ins and outs of the local housing market, Fred Herrman has also spent many years working and living in Los Angeles’ hidden jewel. For any direct inquiries, contact Fred Herrman real estate by calling 310.343.3219.
Read on to learn more about the current trends and forecast for Studio City real estate housing market--compiled by us for you!
Studio City Housing Market Overview 2019
Before starting your search for your Studio City haven, you’ll want to know what to expect. That’s why we’ve compiled all of the data and statistics that buyers and sellers need to know before investing in a Studio City property. Here is just a quick overview of the current 2019 housing market in this local area.
Somewhat Competitive
- A good percentage of homes for sale receive multiple offers.
- Typically, Studio City homes sell 1% lower than the sales price.
- Houses go pending at an average of 49 days.
- High-demand homes will sell at 1% above the list price and go pending at an average of 30 days.
Looking to explore homes in Studio City? Read what Fred Herrman Real Estate team advises and browse homes for sale in Studio City.
- Median Listing Price: $1,230,250
- Median Sales Price: $1,188,100
- 2019 Price Growth: -18.5%
- Price Per Sq. Ft.: $638
- 2019 Price Per Sq. Ft. Growth: +5.5%
- Average # Of Homes For Sale: 192
- Avg. Sale To List Price: Under 1%
- Avg. Days On Market: 49
- Average Down Payment: 20.0%
- 2019 # Of Homes Sold: 54
Studio City Home Prices + Values 2019-2020
With home prices and values expected to plateau in 2020, many real estate experts characterize Studio City’s current housing market as a cool buyer’s market. Meaning right now is the perfect time to invest in your property without facing severe competition. Although Studio City has been known as one of the hottest markets in Los Angeles since 2016, the growth of home values and prices is now starting to slow down--and will continue to do so in the next year.
Studio City Real Estate Market Forecast 2019-2021
- 2019 Median Home Value: $1,309,900
- 2019 Home Value Growth: 2.9%
- 2020 Home Value Growth: 0.2%
Homes For Sale In Studio City
Studio City Home Prices By Home Size
Aside from the median listing prices of Studio City homes, prices also vary according to the size of the property you’re looking for. Here are some average prices according to the number of bedrooms a listed property has.
- 1 Bedroom: $737,875
- 2 Bedrooms: $922,269
- 3 Bedrooms: $1,437,880
- 4 Bedrooms: $1,759,500
Studio City Rental Market Trends
If you’re a property owner looking to expand your investment portfolio in Studio City, here are some important statistics to give you an idea about the rental market when securing rates and tenants in this local area and browse properties for rent in Studio City.
- Average Breakeven Horizon: 6.2 Years
- Median Rental List Price: $4,500
- Average Rental List Price Per Sq. Ft.: $2.76
- Owner Occupied: 46.9%
- Renter Occupied: 53.1%
- $2,000+ Monthly Rent: 23.5%
- $1,500-$1,999 Monthly Rent: 32.8%
- $1,000-$1,499 Monthly Rent: 31.8%
- $600-$999 Monthly Rent: 11%
- $600 Or Less Monthly Rent: 0.9%
Studio City Real Estate Data + Statistics
Are you wondering what to expect when you dive into the Studio City housing market? Here is some more information about the current real estate forecast for buyers and sellers in 2019.
- 2019 Average Active Inventory: 81
- Distressed Homes / Foreclosures: 0%
- Median # Of Days On The Market: 49
- Median Home Size: 2,747 Sq. Ft.
- # Of Active/Pending Homes: 151
- Current New Homes: 9
- Open Houses: 18
Economy + Job Market Growth In Studio City
Studio City is known as a bustling hub between the San Fernando Valley, Los Angeles, and Hollywood. Although the television and movie industries dominate the area, here are some additional industries prominent throughout Studio City to guide you with job placement in the event of a relocation.
- Agriculture/Forestry/Fishing/Mining/Hunting: 0.1%
- Arts + Entertainment: 17.5%
- Construction: 1.5%
- Education + Health: 13.8%
- Finance + Real Estate: 7.8%
- Information: 18.6%
- Manufacturing: 4.6%
- Professional: 18%
- Public Administration: 1.5%
- Retail + Wholesale: 9.4%
- Transportation + Warehousing: 1.4%
- Other: 5.6%
A Snapshot Of Studio City Demographics
As you already know, buying a home is more than just property investment--you are also investing in nearby amenities and attractions, education, and safety. Here are some key metrics concerning the demographics that illustrate the local culture, neighborhoods, and your potential Studio City neighbors!
Education
- Bachelor’s or Associate Degrees: 45%
- Graduate Degrees: 24%
- High School Graduate: 29%
- High School Or Less: 3%
Population By Age
- 9 Years Old Or Under: 11.1%
- 10 to 17 Years Old: 6.8%
- 18 to 24 Years Old: 6.2%
- 25 to 39 Years Old: 26.1%
- 40 to 64 Years Old: 36.9%
- 65 Years or Older: 12.9%
Household Income
- $150,000+: 28.9%
- $75,000-$149,999: 29.4%
- $30,000-$74,999: 25.3%
- Less Than $30,000: 16.5%
Household Size Distribution
- 1 Person: 40.2%
- 2-3 People: 48.7%
- 4-5 People: 10.2%
- 6+ People: 0.8%
Total Number of Rooms
- 1 Room: 4.1%
- 2-3 Rooms: 20.8%
- 4-6 Rooms: 52.7%
- 7-8 Rooms: 14.7%
- 9+ Rooms: 7.7%
Number of Bedrooms
- 1 Bedroom: 22.1%
- 2 Bedrooms: 36.8%
- 3 Bedrooms: 22.7%
- 4 Bedrooms: 8.5%
- 5+ Bedrooms: 5.3%
- No Bedroom: 4.6%
Houses + Year Built
- Before 1950: 20.9%
- 1950-1989: 57%
- After 1990: 22.1%
Best Neighborhoods Near Studio City + Home Values
The Fred Real Estate team has included the average home values of Los Angeles cities surrounding Studio City for comparison and contrast. We specialize in helping clients purchase and sell homes throughout the San Fernando Valley, Los Angeles, and even Bakersfield. For more information on surrounding markets, contact our team today!
- NeighborhoodMedian Sales Price
- Beverly Crest: $2,260,600
- Hollywood Hills: $1,755,600
- Sherman Oaks: $890,000
- NeighborhoodMedian Sales Price
- Toluca Lake: $866,000
- Valley Village: $851,200
- NeighborhoodMedian Sales Price
- Valley Glen: $661,900
- North Hollywood: $536,800
The Best Studio City Schools
When you move to Studio City, your K-12 children will be surrounded by some of the best private and public educational facilities in all of Los Angeles County. Here are some of the stand-out schools in Studio City, so you can rest assured that your little ones will receive a quality education!
Do you have any additional questions or concerns about the current and future housing market trends in Studio City, CA? Feel free to contact Fred Herrman Real Estate with any queries about the local area. We help clients throughout the entire Greater Los Angeles Area secure the best deal on the Southern California homes of their dreams! Call us today at 310.343.3219.