Category Archives: Real Estate Statistics

What Does It Mean When Home Prices Level Off?

Median property prices leveled off between March and April, but is that really cause for concern?

We’ve seen a lot of great things as far as the Santa Clarita real estate market goes. In the past 3 years, we’ve seen a rebound in sales figures and prices, Santa Clarita Home Pricesincluding a huge reduction in short sales and foreclosure sales.

So when the Southland Regional Association of Realtors releases statistics showing that single family home prices in the SCV dropped $20,000 between March and April, some homeowners give it cause for concern. But is it?

Home prices regularly fluctuate.

If you look back over the sales figures history as provided by the Southland Regional Association of Realtors, you’ll find that home prices regularly fluctuate, even in a hot market. What you’ll want to consider is the overall long term growth in value, especially if you’re planning to stay in your home for a long period of time. read more

Santa Clarita Real Estate Shows Continued Growth In Equity

Home prices are still on the rise in the Santa Clarita Valley.What is your home's value?

It’s hard to believe that only a few years ago, home prices were dropping across the country, even in the Santa Clarita Valley. By the end of 2011, the median price of a single family home in the SCV had dropped to $340,000; down from a pricing zenith in April of 2006 when they temporarily topped out at $643,000. Now, that high price was predicated on shaky ground made up of sub-prime loans and market overspeculation, but even still, it stung a lot of homeowners to know they lost over $300,000 in equity during the “Great Recession.” read more

Santa Clarita Home Prices In Holding Pattern

Sales are strong and brisk, but buyers are seeing opportunities not available to them a year ago.

The median price of a single family home fell slightly in June, down $3000 from May’s price of $485,000. Condominium prices rose to an average price of $290,000 Santa Clarita Real Estate Updateduring the same month.

While we’re seeing a slight cool-off in the rise of single family home prices in the Santa Clarita Valley, it’s not an unexpected trend. Prices do tend to rise and fall slightly over the course of a few months. The same thing happened this time last year when single family home prices hovered between $430,000 and $450,000 before settling at $440,000 by year’s end. read more

Santa Clarita Housing Prices Rise 5 Percent In April

Month over month numbers show growth in the Santa Clarita real estate market.

More good news for the Santa Clarita real estate market. Housing sales are up, along with housing prices!Santa Clarita Real Estate

A total of 369 escrows closed in April, compared to only 261 in March. That’s 369 buyers now enjoying the benefits of home ownership in the Santa Clarita Valley. We also saw combined (Condominium and Single Family Homes) median prices continue to rise in April to $402,500. That’s a nearly 5% jump from March when combined median prices rose to $384,900.

We did see the number of active listings remain fairly flat, dropping by 21 homes in April as compared to March. read more

Mortage Forgiveness Act to conclude at end of 2013

Late last night, Congress reached a settlement in the “fiscal cliff” negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure. REALTORS® should tell their clients to keep their short sales on the market and encourage them to consult with their own tax advisers about their tax situation. read more

Rise in New Home Sales Show Promise For Market Recovery

When the economy took a negative turn a few years ago, one of the industries hardest hit in the real estate community were new home sales. Recovery had been slow for this industry, but this year, it appears new home sales have turned a corner in the positive.

According to the Commerce Department, new home sales in April rose 3.3%, and the median selling price of a new home is up 4.9% over the previous year.  Sales are still slow compared with the boom years when they reached a rate of close to 1.4 million, but the month’s results were slightly better than expected. read more

Low Inventory Makes For a Hot Market

We’re having a housing inventory problem here in the Santa Clarita Valley. There are very few active homes on the market available for sale.

As you can see from the chart below (Courtesy of Southland Regional Association of Realtors), residential inventory for 2012 is much lower than the previous two years.

Click this photo to view full size image

So what does this mean to you as a home seller? It means that now may be a great time to take advantage of the low inventory if you are considering selling your home. There is considerable competition among buyers, especially for homes selling as “standard listings”, meaning they are not short sales or have any other issues that may delay closing escrow. Even still, many home buyers are looking for “the deal”, and the first homes they check are either short sales or bank-owned properties. read more