MLS


Broker Syndication Authorization

Data Integrity Standards

DataShare Area Coverage Map

Free IDX Link

ListHub

Matrix Information

MLS Fillable Disclosure Addendums

MLS Forms

MLS Rules

MLS Rules Changes

MLS Rules: Citation Policy

Neighborhoods/Areas/Tract Codes

Santa Clarita Area Letter

Santa Clarita Caravan Schedule

Sign Ordinance

Statistics



Advertisement
 

Advertise With Us!
Home > MLS > Statistics > Press Release

January 2016 (SCV)

Santa Clarita January Home Sales Rise 5%; Median Price of $530,000 Up 10%

Realtors helped close escrow on 113 single-family home sales during January throughout the Santa Clarita Valley, which was up 4.6 percent compared to 12 months ago, the Southland Regional Association of Realtors reported on Thursday, Feb. 18.

Fifty-five condominiums also changed owners during January, down 3.5 percent from the year ago tally. Both home and condo sales showed steep declines from December sales totals, a drop that follows what typically is a heavy yearend rush to close escrows combined with seasonal forces.

“We fully expect 2016 to continue to reflect ongoing improvements in the local residential resale market,” said M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors. “Barring any unexpected, sudden jolts, that means low interest rates will continue to fuel solid sales and modest price increases with the severe lack of inventory preventing the market from overheating.”

Vincent and Realtor leaders statewide have expressed ongoing concern that rising resale prices push too many prospective homebuyers out of the market.

“No doubt, the lack of inventory will fuel additional price gains,” he said, “though hopefully this year will see only low, single-digit hikes. The lack of inventory and dwindling affordability are major issues limiting local and statewide home sales.”

There were 485 active listings throughout the Santa Clarita Valley at the end of January. That was down 12.5 percent from a year ago. Of that total 363 were homes and 122 condominiums.

At the current pace of sales the 485 active listings represent a 2.9-month supply, well below the 3.4-month inventory of January 2015 and the desired 6-month backlog — or about 2,900 listings — which could balance market forces.

“New home construction is underway again in Santa Clarita, which once it hits the market may ease upward pressure on existing housing resale prices,” said Jim Link, the Association’s chief executive officer. “Interest rates are still low and there are plenty of fully qualified buyers out there eager to snap up a median- or lower-priced home. There simply are not enough homes listed to satisfy demand.”

The median price of single-family homes that changed owners during January came in at $530,000, up 10.4 percent over a year. It was the second time that number was posted, first in May of last year, and again in January, with both being the highest monthly median since December 2007. The January median price was 17.6 percent below the record high of $643,000 set in April 2006.

The condominium median price of $306,000 was down 2.7 percent from January 2015. The condo monthly median may have peaked last year with the $330,000 median posted in July and again in November.

Standard sales involving traditional buyers and sellers captures 91.1 percent of the combined residential resale market last month. There were a mere two single-family foreclosure-related REOs, or 1.2 percent of the total market. Realtors reported zero condominium REOs last month, which was the first time that’s happened since the Association started keeping these statistics.

There were a total of 10 short sales, representing 6.0 percent of the combined residential resale market, of which only two were condominiums.

The Southland Regional Association of Realtors® is a local trade association with more than 9,500 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.

- 30 -



   © 2020 Southland Regional Association of REALTORS®      Contact Us    |     Suggestions/Feedback    
Affiliates
Affiliate Benefits
Affiliate Member Lookup
Affiliate With Us
Sponsorship Opportunities
Community
Contribute to HAF
Going Green
Governmental Affairs
Homebuyer Grants
Events/Education
AREA Marketing Meetings
Calendar
Commercial Data Exchange
Leadership Institute
Online Ed
Sponsorship Opportunities
Webinars and Videos
Links
California Association of REALTORS®
California Bureau of Real Estate
Los Angeles County Business Federation
Los Angeles County Housing Resource Center
Los Angeles Housing Department
Los Angeles Neighborhood Councils
National Association of REALTORS®
Santa Clarita Valley Chamber of Commerce
The City of Los Angeles
The City of Santa Clarita
The Valley Economic Alliance
United Chambers of the San Fernando Valley
Membership
Application for Committees
Applications and Forms
Code of Ethics Requirement
Farming & Resource Materials
Member Benefits
Membership Resources
Outreach
REALTOR Action Fund
REALTOR Safety
Risk Management
MLS
Broker Syndication Authorization
Data Integrity Standards
DataShare Area Coverage Map
Free IDX Link
ListHub
Matrix Information
MLS Fillable Disclosure Addendums
MLS Forms
MLS Rules
MLS Rules Changes
MLS Rules: Citation Policy
Neighborhoods/Areas/Tract Codes
Santa Clarita Area Letter
Santa Clarita Caravan Schedule
Sign Ordinance
Statistics
Services
Advertise With Us
Auditorium Rental
Consumer Complaint Process
Print Shop
Professional Standards
R.E. Store
Tech Support Helpline
Tech Support Videos
Veterans
Privacy Policy  |  Accessibility