The prices in real estate in Studio City, in the California region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Studio City has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $1,646. In the following month the price per sq.feet decreased considerably to $632. The price for the following two months in (May, June) had a considerable decrease of 49 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 75 % 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 $850.25 to $634.5 during July, and August.
Based upon to the price in Studio City (cities), this has fallen considerably in the last 6 months. In our first sample month during March, the average price is $1,595,209. In April This price remains at $1,607,362. During the following two months (May, June) the average price had a considerable reduction of 58 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 121 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,627,925 they are 63 % more affordable than the average price for Studio City. The properties with the highest average price have 1 bedroom, Their price is 19 % more costly than the average. After that we have properties with 4 bedrooms priced at $1,801,491.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $450 / sq.feet, with an average $653 / sq.feet price in Studio City. The properties with the highest average prices have 1 bedroom. They are 979 % more expensive than the average followed by properties with 3 bedrooms with a price at $3,791 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most costly one. At an cost of $1,627,925 it is 11 % more expensive than the average price in Studio City. "Commercial Property" is seen as the second dearest property type. The dearest property type is "Condo" followed by "Townhouse". At a price of $3,300,077 it is 103 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $644 / sq.feet followed by "Townhouse" priced at $772 / sq.feet. "Commercial Property" is the most costly type of property with a $17,193 / sq.feet cost followed by "Condo" with an average price of $773 / sq.feet.