Studio City Real Estate Market Recap - Week Ending June 12, 2016

A weekly recap and behind the scenes look at what happened in Studio City real estate home sales for the week ending June 12, 2016.

92 active listings on the market in Studio City (up from 91 last week) - prices range from $749,000 to $5,995,000

  • Median price:  $1,699,000 (same as last week)
  • Average days on market: 68 (up from 65;  average cost per foot:  $615 (down from $619)
  • 30 homes for sale over $2,000,000 (up from 24)
  • 40 price reductions  (up from 27 last week)

Pending Home Sales: 48 (same as last week)  - prices ranging from $600,000 to $3,995,000

  • 7 new pending sales last week (down from 14 last week)

3 Sold Listings (down from 13 last week)

  • Average Days on Market:  42  (↓) 
  • Average Cost per foot:  $519  (↓) 
  • Median Price:  $842,000  (↓) 

7 New Listings Last Week in Studio City

3 Sold Listing Last Week in Studio City

3904 Carpenter, Studio City

Sales Price:  $1,755,000

Days on Market: 35

Cost per foot:  $428

Square feet: 4104; 5 Beds/3 Baths. Special Notes:  1930s traditional mixed with today's modern upgrades. No expense has been spared, features including chef's kitchen with Bertazzoni range, Bosch appliances, Carrara marble, Calacatta marble, wine cellar, tankless water heater, whole-house water filtration system, LED lighting and more. There are endless possibilities for the unattached gym (approx 350 sf), which could also be used as an office, music studio, artist retreat or playroom.

4150 Klump, Studio City

Sales Price:  $842,000

Days on Market: 88

Cost per foot:  $660

Square feet: 1275; 2 Beds/3 Baths. Special Notes: Picturesque curb appeal in one of Studio City's most desirable neighborhoods, Woodbridge Park. First time on the market in almost 40 years, this charming cottage will delight even the pickiest of buyers. Open floor plan perfectly flows from one room to the next, with hardwood floors throughout and plenty of natural light. Galley style kitchen with ample counter space and storage, and separate laundry area and half bath. Family room has recessed lighting, gorgeous wood beamed ceilings and French doors that open up to the deck and covered patio. 

4436 Irvine, Studio City

Sales Price:  $800,000

Days on Market: 2

Cost per foot:  $469

Square feet: 1705; 2 Beds/1 Baths. Special Notes:  Fixer,  For developers or homeowners who are looking for a home to fix up. The property is located in an area of significantly higher property values.