[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 24
2003 - Ruth Newhall, longtime co-owner/editor of The Signal, dies in Berkeley [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.

NASDAQ4748.591  chart +0.76%
S&P 5002067.89  chart +0.21%
Bank Santa Clarit9.15  chart +0.00%
Biosolar, Inc.0.15  chart +0.00%
Cu Bancorp (ca)19.73  chart +0.51%
Enable Ipc Corp0.0055  chart +3.77%
Flextronics Inter11.205  chart +0.95%
Linn Energy, Llc22.8001  chart -3.14%
Linn Co, Llc20.95  chart -2.56%
Mannkind Corporat6.14  chart -0.65%
Mission Vly Bcp C5.95  chart -1.16%
Quest Diagnostics64.59  chart +0.28%
Santa Clara Valle6.00  chart +0.00%
Tejon Ranch Co Co29.00  chart +2.55%
Us Energy Initiat0.0011  chart -21.43%
Wesco Aircraft Ho14.44  chart +3.29%

Apple Inc.118.34  chart +1.61%
At&t Inc.34.66  chart -1.76%
Autonation, Inc. 58.74  chart +1.03%
Best Buy Co., Inc38.9436  chart +2.40%
Big Lots, Inc. Co50.51  chart +0.52%
Barnes & Noble, I23.93  chart +1.87%
Brady Corporation25.74  chart +2.92%
Bre0.00  chartN/A
Bry0.00  chartN/A
Boston Scientific13.125  chart +1.43%
Brookfield Reside23.53  chart -0.42%
Cbre Group Inc Co33.83  chart +1.02%
Carnival Corporat41.9898  chart +1.01%
Comcast Corporati54.96  chart +1.63%
Costco Wholesale 139.67  chart -0.04%
Curtiss-wright Co70.83  chart +0.75%
Cvs Health Corpor91.03  chart +1.90%
Cemex, S.a.b. De 12.72  chart +0.39%
D.r. Horton, Inc.25.60  chart +0.43%
Walt Disney Compa90.57  chart +1.81%
Edison Internatio62.11  chart -0.54%
Hyatt Hotels Corp59.09  chart +0.14%
Home Depot, Inc. 98.53  chart +0.25%
Kb Home Common St17.86  chart +1.08%
Kroger Company (t58.69  chart +0.55%
Lennar Corporatio47.5575  chart +0.57%
Laboratory Corpor101.62  chart +1.15%
Linn Energy, Llc22.8001  chart -3.14%
Linn Co, Llc20.95  chart -2.56%
Lowe's Companies,63.595  chart +0.53%
Marriott Internat76.72  chart +0.97%
Mcdonald's Corpor97.261  chart +0.60%
Mitsubishi Ufj Fi5.71  chart -0.52%
Netflix, Inc.357.95  chart -0.65%
Office Depot, Inc6.69  chart -2.19%
Regal Entertainme22.765  chart +1.72%
Republic Services39.1799  chart +0.46%
Radioshack Corpor0.85  chart +0.06%
Starbucks Corpora80.605  chart +1.06%
Sears Holdings Co38.08  chart +4.87%
Six Flags Enterta39.77  chart +0.81%
Sonova Hldg N146.80  chart -0.14%
Staples, Inc.14.30  chart +1.78%
Supervalu Inc. Co9.425  chart +2.67%
Safeway Inc. Comm34.825  chart +0.01%
Target Corporatio71.66  chart +0.21%
Time Warner Cable145.95  chart +2.41%
Ulta Salon, Cosme126.58  chart -0.63%
Walgreen Co. Comm67.985  chart +0.58%
Waste Connections48.74  chart +0.21%
Whole Foods Marke47.99  chart -0.50%
Waste Management,48.69  chart +0.33%
Wal-mart Stores, 85.28  chart +0.74%
Woodward, Inc.52.68  chart +1.66%

Latest Additions to SCVNews.com
2003 - Ruth Newhall, longtime co-owner/editor of The Signal, dies in Berkeley [story]
Look at the areas of population that voted for construction of the high-speed rail system. You guessed it: Los Angeles and San Francisco. The new train won’t go through much of either highly populated area. What do they care about some farmland in the Central Valley, or Soledad from Acton all the way through Sand Canyon?
Where ‘Nobody’ Lives
1931 - Fall Roundup held at Hoot Gibson's Saugus Rodeo [story]
The next time you take a walk in our open spaces, take a look at the oak trees. Some will have one trunk, but many will have multiple trunks. There is one in the Whitney Canyon area of Newhall that has eight trunks. These trunks were all stump-sprouts after a fire.
Symbol of Strength
An agreement between Benutech Inc. and the Southland Regional Association of Realtors will enable SRAR real estate professionals to access in-depth data and sales analytics on the housing tracts or census tracts in their region.
SCV Realtors Can Access Housing Tract Data Utility
Exactly 11 years – to the day – after he first introduced legislation seeking to block a massive gravel mine in Soledad Canyon, Rep. Howard “Buck” McKeon introduced what will be his last bill aimed at achieving the same end.
McKeon Introduces Final Cemex Bill; Companion to Boxer’s
1843 - Rancho Castec (aka Rancho Castaic) granted to French immigrant Jose Covarrubias [story]
As chance would have it, we found ourselves on the grassy knoll on the 25th anniversary of John F. Kennedy's assassination. I was 11. It was odd to be standing at a place where time had stood still. Because of the actions of that day and in that place, for many people the world completely changed.
When Time Stood Still
The City of Santa Clarita, in partnership with Parkway Motorcars, will host its annual Thanksgiving Dinner at the City’s Newhall Community Center on Monday from 5 p.m. to 7 p.m.
Monday: Thanksgiving Dinner at Newhall Community Center
Despite a 14.4 percent increase in population in 2013, according to the FBI, Santa Clarita saw an overall drop in violent crimes of 19.3 percent.
FBI Stats for Santa Clarita Show Sharp Drop in Violent Crime
Hart High quarterback Brady White is one of 16 high school seniors nominated by the U.S. Army All-American Bowl Selection Committee for the 2015 U.S. Army Player of the Year Award, considered high school football’s highest honor.
Hart’s Brady White Up for U.S. Army Player of Year
Don't miss this opportunity to see the GO JAZZ Big Band, now under the direction of Brian Leff (Jazz Music Director at West Ranch High School) for our only show at West Ranch this fall.
Nov. 23: GO Jazz Fall Concert at West Ranch
The woman who ran the Santa Clarita Redevelopment Agency and filled in as city clerk when the state ended redevelopment has taken a job as community development director for the city of San Gabriel.
Chaparyan Leaves City to Run San Gabriel Planning Dept.
Participants will run a three-mile cross country course through the COC Valencia campus, beginning at the college’s baseball field and continuing through the campus, winding through the hills overlooking the Santa Clarita Valley, and finally finishing inside Cougar Stadium.
Thanksgiving Day: Annual Turkey Trot at COC
Attorney General Kamala D. Harris and Alameda County District Attorney Nancy E. O’Malley announced a settlement this week with AT&T to resolve allegations that hundreds of AT&T’s California facilities unlawfully disposed of hazardous waste and material over a nine-year period.
AT&T to Pay $23.8 Mil. for Unlawful Hazardous Waste Dumping
Stephen Minarsch is enjoying a career as a Hardware Industrial Designer for tech-titan Microsoft. Now a Seattle resident, Minarsch played a critical role in the design of the new “Microsoft Band” fitness product from start to finish.
Ex-COC Student a Creative Brain Behind New Microsoft Band [Video]
Tonight on SCV NewsBreak: The Santa Clarita City Council will consider committing $3 million toward the construction of a new senior center at their meeting on Tuesday.
SCV NewsBreak for Friday, November 21, 2014
Evy Warshawski announced her intention to resign as executive director of the Santa Clarita Performing Arts Center at College of the Canyons
Director of COC Performing Arts Center Stepping Down
The China Lake Astronomical Society will be at the visitor center parking lot beginning at dusk, ready to answer your questions about the unique celestial objects such as nebula, galaxies, clusters, Venus and other planets visible in the dark sky.
Saturday Night: Star Party at Red Rock State Park
Santa Clarita City Council agenda for Tuesday, Nov. 25, 2014.
Next City Council Mtg.: Einstein School, New Senior Center
Santa Clarita Valley Sheriff’s Station deputies responded to the Goodwill located on Pico Canyon Road. Friday on reports of a suspicious object in a donation drop box, officials said.
Possible Grenade Donated to Goodwill; Deputies Respond
Teens repainted a quarter mile of patchwork paint on a retaining wall along the South Fork Trail from the Wiley Canyon Bridge heading North on bike trail towards Magic Mountain Parkway in Valencia.
Community Court Teens Remove Graffiti from Wash
The Santa Clarita Christian Cardinals girls volleyball team will square off against Upland Christian for the CIF Southern Section Division 5-AA Championship in Fullerton Saturday.
SCCS Girls Volleyball to play for CIF Championship
The visiting Antelope Valley Marauders gave the COC women's volleyball all it could handle during Wednesday's 'sophomore night' match, but the Cougars prevailed nonetheless, capturing a 3-2 (27-25, 25-15, 22-25, 29-31, 15-6) win to conclude the regular season with an exclamation point.
Canyons Concludes Regular Season with 16th Straight Win