Sales are strong and brisk, but buyers are seeing opportunities not available to them a year ago.
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.
That being said, Santa Clarita single family homeowners on average saw their property equity rise over $40,000 since the beginning of 2014. Condo owners, who earlier this year saw spikes up and down in their property value, have seen a rise of $40,000 in their equity. Condo prices started off the year at a median price of $250,000.
Opportunities For Home Buyers
We only have to look back a short period in time to remember how it was for buyers this time last year. A lack of available properties for sale induced a feeding frenzy of multiple offers, many at above asking price.
This year, we’re seeing a return to what might be perceived as a more “balanced” real estate market in the Santa Clarita Valley. Last summer, we had barely a month’s supply of available homes for sale. Now, we’re seeing close to a three month supply, giving buyers more choices and opportunities to find the home of their dreams, and to get their offers accepted.
Sellers are still enjoying fairly brisk sales, especially for those who price their home within fair market value. Actually, homes are remaining on the market for a slightly shorter period of time than they were last year.
Whether buying or selling, the Lichen-Hooper Team is ready to help!
We are a team of licensed, experienced agents who know what it takes to help you achieve all of your real estate goals. Contact us for a no obligation consultation.