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

SCVNews.com | SCV Home, Condo Prices Return to Late-2008 Levels | 07-29-2013
Santa Clarita CA
Today in
S.C.V. History
November 26
1916 - A score of Wobblies bust up Newhall Jail after commandeering SP freight train [story]

homepriceshomesalesSingle-family and condominium sales prices hit levels in June that the Santa Clarita Valley hasn’t seen since the beginning of the recession in the fall of 2008.

June’s median single-family home price of $430,000 matched October 2008 and reflected nearly a 20 percent improvement over last June’s $360,000.

Meanwhile, the typical SCV condo changed hands for $263,000, compared to just $195,000 in June 2012. The last time condos hit a higher mark was in August 2008.

Sales volumes were moderate, as 199 single-family homes and 104 condos closed escrow in June, versus 238 and 93, respectively, a year ago.

Importantly, a much bigger share of the market consists of standard sales, rather than foreclosures and short sales.

According to data from the Southland Regional Association of Realtors, 69 percent of residential escrow closings in June were standard sales, while 23.1 percent were short-pays and 7.3 percent were foreclosures.

That compares to June 2012 when only 32.5 percent were standard sales, 29.4 percent were short-pays and 15.3 percent were foreclosures.

“Rising prices are an enormous help for homeowners who owe more than the current resale value of the house, lifting them ever closer to a positive equity position,” said Bob Khalsa, president of SRAR’s Santa Clarita Valley Division.

Sellers are still holding back. Just 428 homes and condos were listed for sale on SRAR’s Multiple Listing Service at the end of June, down 21.3 percent from a year ago. At the current pace of sales, 428 properties represent just a 1.4-month inventory. A five- or six-month supply is considered healthy.


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.

Comments are closed.

NASDAQ4771.029  chart +0.27%
S&P 5002069.12  chart +0.10%
Bank Santa Clarit9.15  chart +0.00%
Biosolar, Inc.0.15  chart -25.00%
Cu Bancorp (ca)19.7399  chart +1.07%
Enable Ipc Corp0.0055  chart +0.00%
Flextronics Inter11.09  chart -0.05%
Linn Energy, Llc22.3896  chart -1.50%
Linn Co, Llc20.629  chart -1.25%
Mannkind Corporat6.245  chart +0.73%
Mission Vly Bcp C5.95  chart +0.00%
Quest Diagnostics63.92  chart +0.16%
Santa Clara Valle6.00  chart +0.00%
Tejon Ranch Co Co28.60  chart +0.25%
Us Energy Initiat0.0011  chart +0.00%
Wesco Aircraft Ho14.20  chart -0.63%

Apple Inc.118.9781  chart +1.17%
At&t Inc.34.99  chart +0.49%
Autonation, Inc. 58.8202  chart +0.03%
Best Buy Co., Inc38.695  chart +0.74%
Big Lots, Inc. Co50.45  chart +0.62%
Barnes & Noble, I23.20  chart +0.22%
Brady Corporation25.56  chart -0.31%
Bre0.00  chartN/A
Bry0.00  chartN/A
Boston Scientific12.85  chart -0.08%
Brookfield Reside23.57  chart -0.04%
Cbre Group Inc Co33.39  chart -0.36%
Carnival Corporat42.02  chart -0.57%
Comcast Corporati56.53  chart -0.16%
Costco Wholesale 139.6399  chart +0.55%
Curtiss-wright Co71.79  chart -0.22%
Cvs Health Corpor90.3193  chart +0.03%
Cemex, S.a.b. De 12.675  chart +0.20%
D.r. Horton, Inc.25.37  chart -0.38%
Walt Disney Compa91.8359  chart +0.20%
Edison Internatio62.50  chart +0.16%
Hyatt Hotels Corp59.08  chart +0.19%
Home Depot, Inc. 97.47  chart +0.47%
Kb Home Common St17.86  chart +0.28%
Kroger Company (t58.655  chart -0.28%
Lennar Corporatio46.78  chart -0.49%
Laboratory Corpor100.25  chart -0.28%
Linn Energy, Llc22.3896  chart -1.50%
Linn Co, Llc20.629  chart -1.25%
Lowe's Companies,62.57  chart -0.60%
Marriott Internat77.61  chart +0.74%
Mcdonald's Corpor96.29  chart +0.15%
Mitsubishi Ufj Fi5.74  chart -0.52%
Netflix, Inc.350.22  chart +0.35%
Office Depot, Inc6.60  chart -0.45%
Regal Entertainme22.95  chart -0.22%
Republic Services39.59  chart +0.25%
Radioshack Corpor0.8332  chart -1.86%
Starbucks Corpora79.944  chart -0.33%
Sears Holdings Co37.96  chart -0.11%
Six Flags Enterta39.94  chart +0.10%
Sonova Hldg N145.30  chart -0.68%
Staples, Inc.13.9331  chart -1.11%
Supervalu Inc. Co9.41  chart +0.64%
Safeway Inc. Comm34.84  chart +0.03%
Target Corporatio72.15  chart +0.07%
Time Warner Cable149.50  chart -0.06%
Ulta Salon, Cosme125.97  chart +0.21%
Walgreen Co. Comm68.20  chart +0.58%
Waste Connections49.18  chart +0.53%
Whole Foods Marke48.14  chart -0.08%
Waste Management,48.76  chart +0.52%
Wal-mart Stores, 84.78  chart -0.20%
Woodward, Inc.52.76  chart -0.02%

Latest Additions to SCVNews.com
1916 - A score of Wobblies bust up Newhall Jail after commandeering SP freight train [story]
Michael D. Antonovich said his first action as chairman of the Board of Supervisors when he takes the helm next week will be to nominate Supervisor-elect Hilda Solis as vice chair.
Mayor-Elect Antonovich Taps Solis for Vice Chair
Tonight on SCV NewsBreak: Santa Clarita residents are invited to the 10th annual Thanksgiving “Community Event” on Thursday in Newhall.
SCV NewsBreak for Tuesday, November 25, 2014
The Board of Supervisors unanimously granted final approval for full implementation of Laura’s Law, a comprehensive, treatment-based approach for the mentally ill -- many of whom are incapable of recognizing their illness.
Laura’s Law: Mentally Ill Treatment Protocol Going County-wide
The college was selected as one of 160 American institutions to host the first wave of Proyecta students, accommodating 100 Mexican students throughout the month of November for an accelerated crash course in English. The multi-year project, a cooperative of President Obama’s “100,000 Strong in the Americas” program, aims to send 100,000 Mexican students to the United States for English language education by the year 2018.
COC Selected to Host 100 Students from Mexico
The Housing Authority of the County of Los Angeles is now accepting registrants for its senior only public housing sites located throughout the County.
Dec. 31: Deadline to Get on Wait List for Orchard Arms Senior Housing
Can’t wait to see it open. Just think: “Good evening, ladies and gentlemen of the Santa Clarita Valley and all the ships at sea. We’re broadcasting from beautiful Old Town Newhall, California, all of the news, music and information you’ll ever want or need.”
On the Move | Commentary by Darryl Manzer
Newhall-headquartered Stomvi USA, one of the nation's top trumpet companies, is proud to announce the launch of its new website.
SCV-based Trumpet Retailer Stomvi Launches New Site
The College of the Canyons student-led Social Issues Forum Club will host an engaging presentation on sexual assault prevention, with students, staff and community members of all ages invited to attend.
Dec. 3: Learn How to Avoid Becoming an Assault Victim
Among other projects, the state bond funds will cover a portion of the cost of equipment for treating chloride.
CLWA Getting $16.7 Mil. from State; Covers Part of Chloride Remedy
Fire Management officials have brought down strike teams of engines and extra fire prevention patrols from northern California and pre-positioned them throughout Southern California.
Fire Danger ‘Very High'; Extra Crews on Hand
Stevenson Ranch, Zone 3 Public Safety and Crime Prevention Information Snapshot for 11/17/2014 to 11/23/2014
Blotter: Homes Burglarized in Stevenson Ranch
Castaic and Val Verde, Zone 2 Public Safety and Crime Prevention Information Snapshot 11/17/2014-11/23/2014
Castaic-VV Blotter: Another Storage Shed Pilfered
Canyon Country West, Zone 7 Public Safety and Crime Prevention Information Snapshot for 11/17/2014 to 11/23/2014
CC-West Blotter: Party-goer Attacked While Waiting for Ride From Mom
Valencia, Zone 5 Public Safety and Crime Prevention Information Snapshot for the week of 11/17/2014 to 11/23/2014
Valencia Blotter: Suspect Bashes Noisy Neighbor in Head
Saugus, Zone 4 Update Public Safety & Crime Prevention Information Snapshot: 11/17/2014 - 11/23/2014
Saugus Blotter: Boy Says ‘No’ to Robbers, Runs Away
1875 - Vasquez lieutenant Cleovaro Chavez killed by bounty hunters in Arizona Territory [story]
On Thursday he admitted there were presidents before him who broke that law, and he was going to hide behind them and break the law himself. Because he’s a “take action” kind of guy.
Revolution is Coming | Commentary by Joe Messina
Tonight on SCV NewsBreak: COC's Mens Cross Country team did something over the weekend they haven't done since 1975. They won a state championship.
SCV NewsBreak for Monday, November 24, 2014
The Santa Clarita Valley’s only local radio station, KHTS AM-1220, is moving to downtown Newhall early next year, the station’s co-owners announced Monday.
KHTS Moving to Newhall Hardware Building
The College of the Canyons men’s cross country team ran to a 79-86 victory over three-time defending state champs American River College at the 2014 California Community College Athletic Association Cross Country State Championships on Saturday.
Cougars Win State XC Crown; 1st Since 1975
Santa Clarita residents are invited to South Valley Church’s 10th annual “Giving Thanks Giving” event on Thursday.
South Valley Church to Host Feast at Newhall Library
News from the city of Santa Clarita Economic Development Department.
Santa Clarita Business News
Free training for local entrepreneurs, from the Small Business Development Center at College of the Canyons.
COC Small Business Center Offers Training for Entrepreneurs