The Santa Clarita real estate daily news and events are for all readers, our clients and those who aren't.
The BIG 5 Santa Clarita real estate daily topics
I was getting service at the local Autonation Dodge dealership and I received a phone call from the local newspaper wanting my input on a story about the current housing and real estate market.
Some of the "other local agents" that he had spoken to had a doom and gloom story to relay.
He was surprised to hear me being very objective about the real estate and housing market in the Santa Clarita Valley.
Apparently, the information he had received up until the point that he contacted me was a bit dismal in its delivery.
Hence, I give it to you straight.
Operating the most read blog pertaining to the Santa Clarita real estate market is quite a responsibility. I realized this long ago and liken it to my past position of being a Police Officer for the LAPD.
Not that times have changed much, it's still the job of a police officer to protect and to serve the public trust. Today, it seems that some may have lost their way or it's their time in the crosshairs.
Either way, I'm glad I have built this current business of being a Real Estate agent and am happy hearing the stories and keeping my clients happy and safe.
To report on the Santa Clarita real estate news daily, to post the events, and to keep my readers engaged, there are 5 items that are the most important from a home buyer and seller perspective.
How many Santa Clarita real estate listings are currently for sale
This is number one. Without a Santa Clarita home to sell, we would have nothing left to speak about, expect "Boy, I sure wish there was a home to sell..."
The local Santa Clarita real estate inventory changes on a minute by minute basis. I report on this during my social media interactions and do a daily dive into the local housing inventory.
I want to know several different things as it pertains to the homes that are currently on the market for sale in the Santa Clarita Valley.
First, I want to know the total number of residential listings. I deal only with residential listings in my Santa Clarita real estate business. Residential is considered Condos, Townhomes, single-family homes that are attached and detached and multiple-unit buildings from duplexes, triplexes, and quadruplexes.
When I'm pulling the data for the Total number of Santa Clarita residences for sale at that time, my posting and Santa Clarita home news update pertain to properties like these.
Geographical area - I speak about the Santa Clarita Valley - The cities of the Santa Clarita Valley are the following
- Agua Dulce
- Canyon Country
- Stevenson Ranch
These eight cities are generally considered to be a part of the Santa Clarita Valley.
(if you are interested in a city that is not on this list, hit me up, I have developed expertise in other Southern California Areas to represent both buyers and sellers therein)
The Santa Clarita number of homes for sale includes the condos, townhomes, and single-family homes that are currently listed for sale in the Multiple Listing Service.
It also includes the Coming Soon real estate listings contained within the Board of Realtor's database.
I do not "makeup" or "engineer" real estate listings on my Santa Clarita home experts website. That is something that I see from time to time within some of the real estate syndication websites to get a "click" or obtain someone's personal information to be sold, watch out for this online real estate trick.
How long is it taking to sell those Santa Clarita homes on average
This is referred to as Days on Market. DOM - it's the time that a home is active on the multiple listing service until it gets an accepted offer and enters escrow.
Currently, we are in the neighborhood approaching 22 days, on average, between when a home is listed for sale, in all price ranges, in all cities, and within all residential building types, to get it into escrow with a qualified home buyer.
The data that was researched was within the cities of Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia.
I want to give the best data points for those of you who may be interested in real estate. Buying, selling, or if you are an owner wanting to explore the real estate market and don't want to tie up with anyone in person asking them, "how is the market"?
This "average" Days on Market research is very price dependent. If there is a home listed for sale that is within the Santa Clarita real estate "Sweet spot," the days on market time is going to be hours if not days to get into escrow.
Let me show you what I mean. I'll take one of the most popular cities - Valencia and give you the days on market average for a single-family home between 450k and 600k with at least three bedrooms.
As you can see - we are lower when the homes are in one of the most desired areas priced in that "high frequency" home buyer zone for Santa Clarita real estate.
Months of Inventory in Santa Clarita real estate
How many months of inventory do we have if no more homes were listed for sale?
This data takes into account the frequency that homes are currently entering escrow and is a good indicator is market health or non-health.
A healthy Santa Clarita real estate market that is balanced is somewhere between 6 and 8 months of real estate inventory. During the past two years, we have been as high as four months of real estate inventory, and that was in January of 2019.
We are definitely in a Santa Clarita real estate seller's market and have been for better than four years. (06182020)
This is a great indicator and one that is often overlooked by Santa Clarita real estate professionals.
The data set that is best used applies to the corresponding city or zip code. When inventory is more robust for at least 6 months or more, I set the search to be more neighborhood-specific for the clients that want the information drilled down to a more precise nature.
Average Sales prices in Santa Clarita real estate
When crunching the numbers in Santa Clarita real estate for my daily housing reports, I always look at the overall average sales prices within the Santa Clarita Cities.
I pull the data set for Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia. When I do, I then make sure that I select everything residential.
This will include where my home buyers want the information from, primarily, also, what the homeowners and home sellers are looking to view.
As of the date of this Santa Clarita real estate daily article, we see that the average sales price has been climbing since January of 2016, where my graphic chart begins.
In order to really get a good grasp on the Santa Clarita real estate market, one must look at more than a single month - maybe a quarter of information or six months. This will give a better understanding of the housing price trends that exist on a local level.
This is the method that I implement when I'm speaking about the trend Santa Clarita housing prices are undergoing from a historical to a present perspective.
Currently, the home inventory is super low. The Santa Clarita valley, as stated, is in a total seller's zone. With the low inventory and the low-interest rates, you have the perfect storm where both typical real estate parties are wanting to move. (buyers and sellers).
Compiling the Santa Clarita real estate data and the buyer drive
We have covered the aspects pertaining to homeowners and potential home sellers. What about the homebuyers?
While we have home buyers with varying levels of experience, most of the first time Santa Clarita home buyers are going to start with being referred to an agent or finding someone like me online during a google search.
We always start the same way with our home buyers, with the market and what to watch out for as we explore their experience and add our own.
The players in real estate are typically the same. You have the agent who you are hiring to represent you as a home buyer. Then there is the agent who is representing the homeowner, aka the home seller.
If you are a home buyer that is interested in buying a Santa Clarita new home, then you are going to have the home builders real estate agent and the home builder's corporate-level contact (like the seller).
Then you have a real estate lender, bank, credit union, or mortgage broker. This is the money source for the home buyer. There are very few home buyers that are cash purchasers. Most homebuyers of Santa Clarita real estate need to obtain financing of some type.
When that is the case, homebuyers often want to know who is paying what? Is the homebuyer responsible for paying me my real estate commission? No. I get paid by the home seller, which includes on a home for sale that is not my listing and also new home centers and new home builder communities.
However, the homebuyer that it's seeking financing in the purchase of their Santa Clarita home is going to have to pay their lender, their part of the escrow fees, and their part of the title insurance fees.
A Santa Clarita real estate recap show would not be complete without a dissertation on the current buyer drive.
What types of financing is prevalent in the current market? Are the home buyers looking for fixer opportunities, or do they want turn-key residences?
What is the buyer competition like and are sellers able to obtain multiple offers on most listings?
What are home buyers able to get the sellers to cover their closing costs?
Are they are to get their closing costs financed, or is the market so competitive where the home buyers have to pay all their own costs?
Finally, is there a specific lender that is a better deal than the others? What should a buyer be looking for in the present market to get their best deal from a mortgage broker or their bank when it comes to getting a home loan?
I'm Connor Macivor and I have been representing home buyers and home sellers since 1998. I have found that trust is the hardest to earn from any real estate buyer or seller and I'm glad for that.
There are a lot of people in the real estate industry who aren't in it for their clients, just their wallets.
When you are ready to look to our Santa Clarita home experts website and search freely for all of the real estate listings that are currently for sale in the Santa Clarita Valley and other Southern California cities.
There is no mandatory registration. Just do yourself a favor, save your search so you get the newest and freshest real estate listings at the moment they hit the market for sale.
I'm Connor and I have said that :)