The prices in real estate in Studio City, in the California region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Studio City has increased strongly during the last 6 months. In April, the average price per sq.feet was $600. In the following month the price per sq.feet increased considerably to $1,484. The price for the following two months in (June, July) decreased 89 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 67 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $987.25 to $663 during August, and September.
Based upon to the price in Studio City (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is $1,660,224. During May the price went through a considerable rise reaching $1,927,705. During the following two months (June, July) the average price had a considerable increase of 134 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $2,097,592.5 to $1,746,873.5, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,627,798 they are 54 % more affordable than the average price for Studio City. The properties with the highest average price have 4 bedrooms, Their price is 67 % more costly than the average. After that we have properties with 1 bedroom priced at $2,393,750.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $537 / sq.feet, with an average $639 / sq.feet price in Studio City. The properties with the highest average prices have 4 bedrooms. They are 31 % more expensive than the average followed by properties with 1 bedroom with a price at $715 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $1,627,798 it is 60 % cheaper than the average price in Studio City. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial Property" followed by "House". At a price of $2,229,117 it is 55 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $488 / sq.feet followed by "Townhouse" priced at $543 / sq.feet. "Commercial Property" is the most costly type of property with a $16,961 / sq.feet cost followed by "House" with an average price of $725 / sq.feet.