Good day everyone, it's already started to be a busy week in Santa Clarita real estate. I have been crunching the numbers and have been very detailed as to how the market is changing and when the new trend started and why.
Let's track back to the first week in July 2018. That was the time when we had close to 400 units for sale. During then and now, I have been watching as inventory is starting to be placed onto the market and as a result, the Santa Clarita real estate market is starting to step on itself.
When we had the lacking inventory and a high buyer drive, there were multiple offers on the real estate listings that were priced right. The properties that were overpriced also received offers within 7-14 days on the market. Depending on price point and whether or not it's in the sweet spot of Santa Clarita real estate.
Santa Clarita's Sweet Spot revealed
Within the Santa Clarita Valley, we are seeing that Single Family Homes that are priced between $450,000 to $600,000.00 are selling the fastest. These are typically stick built detached homes that range from 3 to 4 bedrooms with 2 to 2.5 bathrooms. Some are adorned with three car garages and most are turnkey in condition. As far as square footages, we see that most are in the arena of 1200-2100 square feet and about 50% of these homes carry a Home Owners Association fee.
The locations of sweet spot homes are all over the Santa Clarita Valley, Even in Stevenson Ranch and Valencia. One thing that we have seen is the dollar goes further into the cities of Castaic, Canyon Country, Newhall, and Saugus. Then when you get to the cities of Valencia and Stevenson ranch the PPSF - price per square foot rises in double percentage digits.
Santa Clarita cities layout
There is a lot of buyer interest in the Santa Clarita Valley, some are being relocated from abroad, some from another U.S. State and others from within California. FYI, those who are moving are really relocating. All though most think that "relocation" is something that you do when you, at the very least, changing cities. This is not the case, relocating can include moving from your current home to one that is across the street.
Within the Santa Clarita Valley cities, if you have not been here, you may not be "informed". The SCV cities are typically considered to be in between the 5 and 14 freeways. There is some overlap on the west side in the cases of Castaic, Stevenson Ranch, Valencia and a small part of Newhall. On the east side, you will see that there is also some overlap on the 14 freeway, that is mostly the case with the city of Canyon Country and a small part of Newhall.
In the upper center of the "Y" that is created by the joining of the 14 and 5 freeways, you will have Saugus CA. Then mid to upper left you have Valencia. Upper left is Castaic.
Bottom Left is Stevenson Ranch. At the bottom of the "Y" is Newhall. and Canyon Country is the right side, upper, mid and part lower.
Some consider Saugus to be the furthest to either the five freeway or the fourteen freeway while in the Santa Clarita Valley. However, that may have been the case, before Newhall Ranch Road and Golden Valley was extended. It's almost a straight shot to either the 14 freeway and the 5 freeway.
During our tenure in the Santa Clarita real estate business, our start was in 1998, we have both been active relating to the local dynamic Santa Clarita Valley real estate market.
Our "relating" always pertains to our watching and digesting all of the most recent real estate market news. The real estate news that is not based on opinion, but based on fact. For guidance, this is necessary to give to our housing clients so they are able to make the best real estate decisions.
Santa Clarita Market video updates
Every week or two, I have a video that is not long, but it does cover the local real estate inventory.
I also make it a point to explain the data and how that may be affecting buyers and sellers in the Real Estate market's own specific ways.
Topics typically covered on my real estate and housing market update have to do with the local real estate inventory. I also speak about the Santa Clarita Days on Market timeframes. I then move into any noticeable changes in the Price per Square foot prices within the SCV cities. I also cover the mortgage interest rates and if there are any new grant or discount programs for First time Santa Clarita home buyers and others who are wanting to buy at this time.
Finally, I add that up and explain how that will impact the local housing markets and why that is important to your current real estate positioning.
When you are ready I will be here. I am all about Santa Clarita real estate representation and am proud to offer you my services.
I love real estate buyers as much as I love real estate sellers. Some Santa Clarita real estate agents pass on home buyers, delegating their assignment to a team member. That has never been my way of thinking.
Other real estate agents in the Santa Clarita Valley have been of the mindset that having real estate sellers is better than having a real estate buyer. They come to this conclusion because having a home seller equates to additional online advertising and, open house traffic streams and sign calls.
That may have been the case in the historical real estate archives. Today, only the top agents have re-thought this process to include giving as much importance, or more to the current real estate buyers that are in the market.
I know the past mindset is if you have a listing you can generate buyers. However, as a counter, most home buyers want to have their own agent, known as a Buyers Agent, who is able to be on their side 100% and not the sellers. The seller has their own independent real estate agent and the home buyers have theirs.
Choose wisely, always have your own Realtor when it comes to buying or selling real estate. I will be here for you when you are ready. I'm Connor and I'm glad to be of service.