[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

SCVNews.com | BIA: L.A. County’s New-Home Sales Prices Hit New Low in October | 12-20-2011
Inside
Weather
Santa Clarita CA
Sunny
Sunny
76°F
 
Calendar
Today in
S.C.V. History
August 23
1963 - First stretch of Antelope Valley 14 Freeway opens from east of Solemint Junction in Canyon Country to Red Rover Mine Road in Acton. [story]


[BIASC] – While the number of new homes that closed escrow in October in Los Angeles County rebounded slightly from September, the median price was the lowest recorded in the past two years, the local chapter of the Building Industry Association of Southern California reported Tuesday.

A total of 244 new homes closed escrow during the month in L.A. County, according to sales totals compiled for the BIA by Hanley-Wood Market Intelligence. Costa Mesa-based HWMI tracks closings in new-home communities of 10 units or more.

October’s total was up from the revised figure of 228 the previous month down from 263 reported in October 2010. Once again, the most sales took place in West Los Angeles (72), followed by the South Bay (48).

However, the countywide median price dropped by 4.8 percent from the previous month to $359,500, which was down 20.4 percent from the same month a year ago. The previous monthly low was the revised $360,300 recorded in August. The median has been below $400,000 for four straight months, the only times in the past two years that they have been below that mark.

The average price per square foot in L.A. County held relatively steady, falling to $276 – down about 5 percent from the previous month and October 2010.

Ventura County reported just 14 closings in October. The median price, however, soared by 26 percent from the previous month to an even $400,000. That figure was also up 14 percent from the previous year. The size of the homes sold was significantly larger than the previous reporting periods, and the average price per square foot rose slightly from September but fell 28 percent from 2010.

Holly Schroeder, CEO of the Los Angeles/Ventura Chapter, said that coupled with historically low mortgage interest rates, today really is a good time to buy a new home in the region.

“Today’s new homes are designed for today’s lifestyles and are far more energy efficient than homes built just a few years ago. Families looking for the latest in trends and technological advances should visit new-home communities and see what builders have to offer,” she said.

 

BIASC is a nonprofit trade association representing some 1,000 member companies in the housing industry, construction trades, and affiliated businesses throughout Southern California. The Chapter, one of four that make up BIASC, serves homebuilders in Los Angeles, Ventura and southeastern Kern counties. Learn more at www.bialav.org.

Hanley Wood Market Intelligence (HWMI) is the housing industry’s leading provider of rich data and analytical services on residential real estate development and new-home construction and a business unit of Hanley Wood, LLC, the premier media company serving housing and construction. More information is available on the company’s website, www.hanleywood.com/hwmi, or by calling 1-800-639-3777.

HWMI tracks home closing information by builder on a monthly basis for the state of California and across the country. HWMI closings represent completed transactions during the period indicated. Median and average prices are based upon the final closing price of the transaction as recorded with the associated municipality. Through its data platform, Housing IntelligencePro, HWMI provides the most comprehensive housing data resource available.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
NASDAQ6284.5840  chart -0.20%
S&P 5002446.87  chart -0.23%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita18.00  chart +0.00%
Biosolar, Inc.0.04  chart +0.00%
Sierra Bancorp25.48  chart +0.47%
Cu Bancorp (ca)35.85  chart +0.42%
Enable Ipc Corp0.001  chart +0.00%
Flex Ltd. - Ordinary Shares15.66  chart -0.32%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Mannkind Corporation1.4215  chart +0.11%
Mission Vly Bcp Ca14.00  chart +0.00%
Quest Diagnostics Incorporated106.485  chart -0.33%
Tejon Ranch Co19.905  chart -0.28%
Us Energy Initiative0.0005  chart +0.00%
Wesco Aircraft Holdings, Inc.7.875  chart -3.37%

Apple Inc.159.99  chart +0.13%
At&t Inc.37.93  chart -0.13%
Autonation, Inc.42.60  chart -0.35%
Best Buy Co., Inc.62.17  chart +0.61%
Big Lots, Inc.50.16  chart -0.93%
Barnes & Noble, Inc.7.525  chart +1.01%
Brady Corporation32.775  chart +0.08%
Boston Scientific Corporation26.85  chart -1.32%
N/a24  chart +0.00%
Cbre Group Inc Class A35.6015  chart -1.02%
Carnival Corporation67.8436  chart -0.07%
Comcast Corporation40.69  chart -1.60%
Costco Wholesale Corporation158.80  chart +0.06%
Curtiss-wright Corporation94.7798  chart +0.14%
Cvs Health Corporation77.73  chart -0.04%
Cemex, S.a.b. De C.v. Sponsored9.105  chart -0.27%
D.r. Horton, Inc.35.425  chart -0.41%
Walt Disney Company (the)101.905  chart -0.84%
Edison International80.34  chart +0.30%
Hyatt Hotels Corporation Class 57.38  chart -0.21%
Home Depot, Inc. (the)149.05  chart -0.57%
Kb Home22.13  chart -0.85%
Kroger Company (the)23.01  chart +0.31%
Lennar Corporation Class A51.525  chart -0.78%
Laboratory Corporation Of Ameri153.26  chart -1.38%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Lowe's Companies, Inc.72.39  chart -4.52%
Marriott International100.61  chart -1.36%
Mcdonald's Corporation158.87  chart -0.48%
Mitsubishi Ufj Financial Group,6.09  chart -0.49%
Netflix, Inc.168.11  chart -0.73%
Office Depot, Inc.3.98  chart -2.21%
Rite Aid Corporation2.27  chart +1.34%
Rexford Industrial Realty, Inc.29.015  chart +1.34%
Regal Entertainment Group Class14.15  chart -4.59%
Ross Stores, Inc.58.91  chart -0.47%
Republic Services, Inc.64.59  chart -0.40%
N/aN/A  chartN/A
Starbucks Corporation54.00  chart -0.83%
Smart & Final Stores, Inc.7.375  chart +1.72%
Sears Holdings Corporation8.9166  chart -1.26%
Six Flags Entertainment Corpora52.21  chart -1.90%
Sonova N164.20  chart -0.24%
Staples, Inc.10.18  chart -0.20%
Sunpower Corporation9.01  chart +1.12%
Target Corporation56.55  chart +0.02%
Time Warner Cable Inc209.56  chart -0.21%
Ulta Beauty, Inc.231.05  chart -0.26%
Walgreens Boots Alliance, Inc.81.42  chart +0.17%
Waste Connections, Inc.64.76  chart +0.37%
Whole Foods Market, Inc.41.695  chart -0.04%
Waste Management, Inc.76.125  chart -0.10%
Wal-mart Stores, Inc.80.0748  chart +0.07%
Woodward, Inc.67.44  chart -0.94%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
Six Flags Entertainment today announced its Southern California flagship property, Six Flags Magic Mountain, will be open 365 days a year starting January 1, 2018.
Six Flags Magic Mountain Goes Year-Round in January
The SCV Sheriff's Station's Crime Impact Team and Special Assignment Team conducted a joint bicycle patrol in Canyon Country and Newhall Tuesday evening, and arrested four people on drug charges.
SCV Deputies’ Bicycle Patrol Nets 4 Arrests for Drugs
The 21st annual "Heart of the West" fundraiser for the non-profit Carousel Ranch horse therapy program for children will take place at the ranch on Saturday, August 26 starting at 6 p.m.
August 26: ‘Heart of the West’ to Benefit Carousel Ranch
Beatles tribute band The Sun Kings headline the final show in the 2017 Concerts in the Park series on Saturday, August 26, starting at 7 p.m.
August 26: Sun Kings Beatles Tribute Band at Central Park
Garrett Hampson delivered four hits and the Lancaster JetHawks held off a late rally by the Inland Empire 66ers in a 9-8 victory on Tuesday night at The Hangar, the JetHawks' fifth win in a row.
Hampson’s 4 Hits Propel JetHawks Over 66ers
The California League has named three Lancaster JetHawks as Postseason All-Stars -- Garrett Hampson, Yonathan Daza and Wes Rogers.
Three JetHawks Earn Post-Season All-Star Nods
1963 - First stretch of Antelope Valley 14 Freeway opens from east of Solemint Junction in Canyon Country to Red Rover Mine Road in Acton. [story]
With funding from Measure H, Los Angeles County and its cities are teaming up to quickly place thousands of homeless people into permanent housing that comes with the supportive services, rental subsidies and other assistance needed to thrive.
Permanent, Supportive Housing for Homeless Thanks to Measure H
A Domestic Violence Center, Senior Center and homeless shelter partnership is looking for solutions to the countywide homelessness crisis in Santa Clarita.
Three Local Non-Profits Look to Tackle Housing Crisis
The Gibbons Conservation Center is holding a Back to School special. Buy your 2018 membership today and get the rest of 2017 free.
Gibbons Conservation Center Holding Back-to-School Special
Tonight on SCV NewsBreak, CHP is investigating a fatal collision that happened early Tuesday morning near Castaic. Plus, photographers can get ready to submit their Santa Clarita-centric photos for the Fall 2017 Photo Contest. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Tuesday, August 22, 2017
WiSH Foundation Executive Director Amy Daniels is about climb for education.
WiSH Foundation’s E.D. to Climb Kilimanjaro for Public Education
Registration for the Fall session is now open.
Lil’ Kickers Fall Registration Underway
The CSUN Art Galleries are pleased to present part two of an exhibition featuring artwork made by full and part-time faculty in the Department of Art. More than thirty artists showcase current bodies of work, using a variety of materials and processes.
CSUN Faculty Artwork on Display in “Full and Part (Two)” Exhibit
Here are the upcoming times and dates for the Santa Clarita Valley Chamber of Commerce Emerging Leaders Series:
Chamber’s Emerging Leaders Series Resumes Wednesday
Mayor Cameron Smyth, Mayor Pro Tem Laurene Weste and Councilmembers Bill Miranda, Marsha McLean and Bob Kellar cordially invite you to party like it’s 1987 at the 2017 State of the City Luncheon to be held on Thursday, October 26, 2017 at 11:30 a.m. at the Hyatt Regency Valencia.
Oct. 26: State of the City 30th Anniversary Luncheon
Join The Painted Turtle on October 14, 2017 for the 8th annual bike ride and 2nd annual walk/run/roll to benefit the non-profit.
Oct. 14: Tour de Turtle, Turtle Trek Bike Ride
Here is a round-up of Santa Clarita arts-related events for Aug. 25-26th.
Aug. 25-26: Santa Clarita Arts Calendar
The 2017 CIF Southern Section Football Pre-Season Rankings have been released and a local team finds itself at the top of its division.
CIF Pre-Season Rankings List Saugus Football No. 1 in Division
The Castaic-area crash that killed a motorcyclist on Highway 126 Tuesday morning is still being investigated by CHP officers.
Officers Investigating Fatality on Highway 126
The County and City of Los Angeles are asking that residents complete the Purposeful Aging Los Angeles (PALA) Age-Friendly Survey between now and September 15, 2017.
Officials Urge Residents to Complete Survey on Aging
The Board of Supervisors unanimously approved a motion by Supervisors Kathryn Barger and Hilda L. Solis which seeks to organize and enhance efforts by county departments and community partners to help foster youth transition to successful adulthood.
County Expands its Efforts in Foster Youth Programs
A bank robbery at the Wescom Credit Union in Stevenson Ranch is under investigation by deputies, officials reported Monday afternoon.
Deputies Investigating Stevenson Ranch Bank Robbery
The contenders for the Best FIFA Women's Player 2017 have been revealed and voting is now underway.
Blue Heat’s Castellanos Makes FIFA’s Shortlist for Best Women’s Player 2017
1891 - Future First Lady Lou Henry (Hoover), 17, poses for photo at R.E. Nickel's Acton store [story]
Deputies from the Santa Clarita Valley Sheriff’s Station responded to a possible burglary call at a warehouse in the 29000 block of Avenue Sherman in Valencia Monday morning.
SCV Deputies Investigate Reported Valencia Warehouse Burglary
Tonight on SCV NewsBreak, a once-in-a-century solar experience took place Monday. Plus, on Saturday, dozens of people gathered in Newhall to celebrate the legacy of the old Saugus Speedway, its racers and its crew. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Monday, August 21, 2017
The 28th Annual Fine Art Show & Gala presented by the Santa Clarita Artists Association and the county of Los Angeles takes over Hart Hall on Saturday afternoon, October 14.
October 14: SCAA, County’s 28th Annual Art Classic at Hart Park
Organizers of the city of Santa Clarita's quarterly photo contest are now accepting entries for the fall 2017 competition.
City Opens Entries for Fall 2017 Photo Contest
The Santa Clarita Valley Boys & Girls Club invites everyone who shares a special connection with the club to the Alumni BBQ on Saturday afternoon, September 9.
September 9: Boys & Girls Club Alumni & Friends BBQ
Comedian and magician Fritz Coleman brings his stand-up show to Santa Clarita with an intimate, one-time performance at the Keyboard Galleria Music Center on Saturday, August 26.
August 26: Comic Fritz Coleman Stands Up at Keyboard Galleria
Deputies from the Santa Clarita Valley Sheriff's Station issued 38 traffic citations Friday and arrested a Newhall man on a parole violation warrant on Saturday.
Deputies Cite Speeders, Arrest Parolee
Lancaster JetHawks right-handed pitcher Jesus Tinoco has been named the California League Pitcher of the Week for August 14-20, 2017.
JetHawks’ Tinoco Named Cal League Pitcher of the Week
The Los Angeles Dodgers have acquired outfielder Curtis Granderson and cash considerations from the New York Mets in exchange for a player to be named later or cash considerations.
Dodgers Aqcuire Outfielder Curtis Granderson from Mets
The TMU Mustangs' women's volleyball home opener proved to be exactly what the doctor ordered as the hosts dispatched Lewis & Clark State College (ID) in straight sets 25-19, 25-22, 25-17.
Lady Mustangs Dispatch Lewis & Clark in Straight Sets
The Master's University's men's soccer team inaugurated their 2017 season with a 5-0 win over Northwest of Washington on Reese Field Saturday afternoon.
TMU Men’s Soccer Blanks Northwest in Season Opener