These updates are for the Valencia CA area - Condo's and town-homes are separate reports from those that we have put together for the Single Family Residences. You can view both reports by clicking on the links below that indicate each report type. They are in PDF format and will cover many different market variables for Valencia CA - with reference to the residential re-sale market.
We broke this report down into the following parameters - we have the median list prices for the Single family residences in Valencia increasing to a level of $449,900. We have a Flat price per square foot holding steady from last week to this one at $203.00. Due to the large amount of buyers in the Valencia CA market - we have noticed that the Days on Market (the time frames that homes stay on the market for sale), have decreased down to an average of 122 days.
We also have been watching how many Valencia CA homes are experiencing price decreases. This can be for various reasons, it could be that the home was a short sale and the appraised value was less than the approved price on the short sale by the short selling bank. Out of 100% of the properties listed for sale in Valencia CA - 23% experienced a price decrease during this past 7 day reporting period.
Now I will cover the price increases for Valencia CA - Single Family Residences only - 7% of the properties that are currently for sale have experienced a price increase from their listed price to the sale price. The current trends indicate that the real estate market is experiencing the price increases pertaining to the short sales that have been listed for sale and finally received approval from the bank(s).
The agents list the short sales too low - the bank counters with a higher price after an appraisal or BPO (broker price opinion) takes place, and they change the price of the property - increasing it. However, don't let this factor in today's market put you off - The ultimate fair market value is established by your appraiser that is working for the bank granting you the loan. Hang in there and please only hook up with professional Local Real estate agents when wanting to buy something that takes 30 years to pay off.
Here is the latest Real Estate listing for sale in Valencia California priced at over 1 million dollars. Valencia is one of the cities in the Santa Clarita Valley which we are proud to serve our sellers and buyers needs within. Be Safe and Search well.
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If you want to get these reports emailed to you for Valencia or the other Santa Clarita Cities - head over to our Number One Real Estate website in Santa Clarita CA and type into the MacBoX the word "reports".