Where is the current real estate market in the Santa Clarita Valley Cities?
We have just completed the compilation of the latest Market Reports for the SCV. Each city is represented below - Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, Valencia, Acton and Agua Dulce.
This solves two issues that can come about when a local Santa Clarita real estate agent attempts to build the "prices increasing, prices flat and prices declining" reports.
Issue #1: Purposely building the data and the reports to influence a buying or selling decision.
Issue #2: Not having accurate data and trusting "extra" multiple listing service and boards of Realtors services.
Hiring an independent research firm to compile the Santa Clarita Valley housing and market data makes us and our real estate clients feel a lot more comfortable.
What you are going to see with the reports below.
Santa Clarita real estate inventory is still tight. At all time lows, we are watching as "standard" sale sellers are able to sell and break even for the first time in the past 8 months.
If a person were to have bought a home in Valencia CA June of 2012 at the median sales price - they would have been even-steven in February of 2013.
Meaning - they can sell the home, accounting for realtor's commission and their portion of the closing costs, breaking even.
If you want to talk about being in the "black". Profiteering from the sales of the same type of home? That time would be now.
The longer time taken between listing and selling - it seems that the sellers in the Santa Clarita Valley are only going to be in a better position.
Unless something happens. This "something" can be increasing inventory. Where will it come from?
How about Short Sale Sellers. The debt forgiveness act was increased to conclude December 31, 2013. That would seem to be a GREAT reason to jump at starting this procedure now.
Starting for those that have fallen behind on their payments or those that have experienced some type of "life changing" event, causing a hardship to be created with them keeping up with their mortgage payments.
That is not the case, currently. This year is no different - March will see an increase of homes for sale. Maybe with record numbers of "Standard Sales" hitting the market.
However, even with this, I opine that we will still have lacking inventory - but happier buyers.