With the number of listings at a record low in December, the first month of 2021 started out with significantly more buyers than available homes to buy. Most of Los Angeles reported continued rising prices and number of sales in January, including Valley Village and Sherman Oaks. Studio City was one of the exceptions.
At $1.373 million, the average sale price of a single residence in Valley Village recorded an almost 5% rise over the previous January. In Studio City, where the average sale price of a single residence rose 18% over the same comparative period, the number was $1.763 million. Studio City’s average sale price of $2.008 million saw an 8% decline from the previous January, though it was a 20% increase over the previous month.
Source: CRMLS, The MLS