May saw a $30K jump in the median price of single family home prices in the SCV.
Good news for Santa Clarita homeowners came from the Southland Regional Association of Realtors who recently reported that home prices continued to rise in May, with the median price of a single family home jumping to an average of $530,000. That’s a $30,000 jump from April, and a $45,000 jump from May of 2014.
We’ve seen single family home prices steadily rise throughout this year, with gains rebounding from recession-era lows since the end of 2012.
Is this what’s known as a “seller’s market?”
Sellers have been able to take advantage of the upswing in equity over the past few years. This does not necessarily mean that “anything goes” when it comes to pricing their home, however.