Studio City Real Estate Market Recap - Week Ending April 24, 2016

A weekly recap and behind the scenes look at what happened in Studio City real estate home sales for the week ending April 24, 2016.

74 active listings on the market in Studio City (up from 73 last week) - prices range from $799,900 to $5,995,000

  • Median price:  $1,724,500 (↓)
  • Average days on market: 73 (↑);  average cost per foot:  $621 (↓)
  • 24 homes for sale over $2,000,000 (↓)
  • 32 price reductions (same as last week)

Pending Home Sales: 42 (up from 33 last week and 37 two weeks ago)  - prices ranging from $849,000 to $5,995,000

  • 11 new pending sales last week (up from 5 last week and 2 two weeks ago)

5 Sold Listings (down from 7 last week and 6 two weeks ago):

  • Median Price: $1.015,000 (last week: $1.365,000)
  • Average days on market:  56 (↓)
  • Average cost per foot:  $543 (↑)

9 New Listings Last Week in Studio City

5 Sold Listings Last Week in Studio City

12842 Hortense, Studio City

Sales Price:  $1,935,000

Days on Market: 55

Cost per foot:  $386

Square feet: 5017; 5 Beds/6 Baths. Special Notes: Property built in 20145 sits on a 9,996 square foot lot, each bedroom designed to have its own bathroom. High vaulted ceilings, bright chandelier lights, well-crafted stairwell, wine cellar and formal dining room. Gourmet kitchen with brand new stainless steel appliances, granite countertops and an island to entertain. The living room brings you to an adjacent fireplace which brings warmth to the entire home; master suite overlooking the pool, with a spacious walk-in closet, lush backyard with fire pit and barbeque grill. 

4557 Simpson, Studio City

Sales Price:  $1,800,000

Days on Market: 94

Cost per foot:  $471

Square feet: 3821; 5 Beds/6 Baths. Special Notes: New Cape Cod Estate in the Landale Square community of Studio City and coveted Colfax Elementary School District. Open floor plan flows between kitchen, living space and the backyard creating a perfect environment for family and entertaining. Master Bedroom with a private rear facing balcony; 14 foot high ceilings with crystal chandelier, custom built Cabinets, Italian Marbles, Wolf Gas Range, Subzero refrigerator, Miele dishwasher and built-in espresso machine makes for a perfect kitchen. Folding glass windows to the yard along with an inviting multi color remote controlled heated pool/Jacuzzi, full BBQ area and outdoor fire-pit.

4238 Farmdale, Studio City

Sales Price:  $1,015,000

Days on Market: 30

Cost per foot:  $849

Square feet: 1195; 2 Beds/1 Baths. Special Notes: Sold for land value.

4028 Denny, Studio City

Sales Price:  $910,000

Days on Market: 0

Cost per foot:  $617

Square feet: 1474; 2 Beds/2 Baths. Special Notes:  SOLD BEFORE PROCESSING.

3729 Reklaw, Studio City

Sales Price:  $755,000

Days on Market: 101

Cost per foot:  $534

Square feet: 1414; 2 Beds/2 Baths. Special Notes: First Time on the Market, Located on a quiet tree-lined street "South of Ventura Blvd.", nestled in the Laurel Canyon Hills, perfect for the End-User or Investor!. Open floor plan, glass slider to large private deck.  Downstairs has separate entrance, workshop, storage and private deck as well as stairwell connecting to upper level.