[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
July 6
1850 - Town founder Henry Mayo Newhall arrives in California to look for gold [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.

NASDAQ4993.19  chart -0.32%
S&P 5002070.64  chart -0.30%
Bank Santa Clarita9.45  chart +0.00%
Biosolar, Inc.0.50  chart -3.85%
Sierra Bancorp17.11  chart +1.18%
Cu Bancorp (ca)21.98  chart -0.23%
Enable Ipc Corp0.004  chart +0.00%
Flextronics International Ltd.11.13  chart -1.59%
Linn Energy, Llc9.169  chart +0.10%
Linn Co, Llc9.65  chart -1.83%
Mannkind Corporation5.27  chart -0.94%
Mission Vly Bcp Ca7.15  chart +0.00%
Quest Diagnostics Incorporated 70.80  chart -0.91%
Tejon Ranch Co Common Stock26.0008  chart -1.18%
Us Energy Initiative0.0007  chart +0.00%
Wesco Aircraft Holdings, Inc. C14.8456  chart -0.76%

Apple Inc.125.86  chart -0.46%
At&t Inc.35.64  chart -0.25%
Autonation, Inc. Common Stock63.52  chart +0.16%
Best Buy Co., Inc. Common Stock33.39  chart -0.33%
Big Lots, Inc. Common Stock45.35  chart +0.22%
Barnes & Noble, Inc. Common Sto26.13  chart +0.54%
Brady Corporation Common Stock24.48  chart -0.37%
Boston Scientific Corporation C17.59  chart +0.11%
N/aN/A  chartN/A
Cbre Group Inc Common Stock Cla37.59  chart -0.24%
Carnival Corporation Common Sto49.67  chart -0.38%
Comcast Corporation62.37  chart +0.05%
Costco Wholesale Corporation136.3201  chart -0.05%
Curtiss-wright Corporation Comm71.832  chart -1.03%
Cvs Health Corporation Common S105.46  chart -0.09%
Cemex, S.a.b. De C.v. Sponsored9.035  chart -1.36%
D.r. Horton, Inc. Common Stock27.75  chart +0.58%
Walt Disney Company (the) Commo115.34  chart +0.32%
Edison International Common Sto56.89  chart -1.15%
Hyatt Hotels Corporation Class 57.89  chart +0.10%
Home Depot, Inc. (the) Common S111.42  chart -0.06%
Kb Home Common Stock16.69  chart +0.66%
Kroger Company (the) Common Sto73.65  chart +0.74%
Lennar Corporation Class A Comm51.22  chart +0.12%
Laboratory Corporation Of Ameri119.70  chart -0.87%
Linn Energy, Llc9.169  chart +0.10%
Linn Co, Llc9.65  chart -1.83%
Lowe's Companies, Inc. Common S66.56  chart -0.21%
Marriott International - Class 74.41  chart -0.52%
Mcdonald's Corporation Common S95.76  chart -0.43%
Mitsubishi Ufj Financial Group,7.245  chart -0.62%
Netflix, Inc.663.31  chart +0.76%
Office Depot, Inc.8.85  chart +0.00%
Rexford Industrial Realty, Inc.14.78  chart +0.89%
Regal Entertainment Group Class20.495  chart -2.22%
Republic Services, Inc. Common 39.39  chart -0.13%
N/aN/A  chartN/A
Starbucks Corporation54.32  chart +0.15%
Smart & Final Stores, Inc. Comm17.71  chart -0.34%
Sears Holdings Corporation25.32  chart -0.82%
Six Flags Entertainment Corpora46.04  chart +1.63%
Sonova Hldg N129.60  chart +0.47%
Staples, Inc.15.53  chart -0.13%
Sunpower Corporation26.8799  chart -2.22%
Supervalu Inc. Common Stock7.95  chart -0.87%
N/aN/A  chartN/A
Target Corporation Common Stock83.05  chart +0.95%
Time Warner Cable Inc Common St181.73  chart +0.47%
Ulta Salon, Cosmetics & Fragran156.39  chart +0.10%
Waste Connections, Inc. Common 47.06  chart -0.44%
Whole Foods Market, Inc.39.42  chart +0.69%
Waste Management, Inc. Common S46.2899  chart -0.17%
Wal-mart Stores, Inc. Common St72.46  chart +0.83%
Woodward, Inc.54.69  chart -0.20%

Latest Additions to SCVNews.com
El Toro — an autonomous robot that the team built from scratch for more than two semesters, and named for its bulky body, laser range finder mounts and its CSUN pride — won the competition by a landslide.
CSUN Engineering Students Take Prize for Robotic Vehicle
1850 - Town founder Henry Mayo Newhall arrives in California to look for gold [story]
When you volunteer your time to a charity or an altruistic activity, your self-worth and self-respect improve dramatically. Volunteering just plain feels good. Feeling down? Volunteer.
To Volunteer
The Sheriff’s Community Academy offers a limited number of community members the exclusive opportunity to learn about every aspect of the Los Angeles County Sheriff’s Department.
Sign Up Now for SCV Sheriff’s Community Academy
The City of Santa Clarita will host a free reception for the new art installment entitled Bazaar on Wednesday, July 8, at the Town Center Art Space, located at 24201 Valencia Boulevard.
July 8: Reception for ‘Bazaar’ Exhibit at Town Center
“Splendors of Art,” an art show featuring the works of Zony Gordon, a watercolor impressionist artist in Santa Clarita, will be held from July 16 to Sept. 10 at the Canyon Theatre Guild
Local Watercolorist’s Work Going on Display at CTG
To ensure that U.S. health care providers and facilities are prepared to safely identify, isolate, transport, and treat patients with Ebola and other emerging threats, the U.S. Department of Health and Human Services launched a National Ebola Training and Education Center on July 1.
Feds Launch National Ebola Training, Education Center
Do you enjoy painting, hammering, and other hands-on construction play? Then come and volunteer at Red Rock Canyon State Park on July 11th for a picnic table repair/rebuild day.
Upcoming Events at Red Rock, AVIM, Tehachapi State Parks
1914 - Rev. Wolcott H. Evans, the future "pastor of the disaster," named pastor of Newhall's First Presbyterian Church [story]
More than 1,000 runners gathered at Newhall Park on Saturday morning for the 33rd annual Independence Day Classic.
Runners Put Their Best Foot Forward
Fire crews suppressed a 1.5-acre a brush fire caused by illegal fireworks in the 22600 block of La Rochelle Drive, near Pamplico Drive in Saugus.
Illegal Fireworks Spark 1.5-acre Blaze in Saugus
The man found dead in a car in Canyon Country Friday evening has been identified, according to officials.
Update: Body Found in Canyon Country Car ID’d
1932 - Robert Poore wins the greased pole climbing contest and $2.50 at Newhall's July 4th celebration [story]
Santa Clarita residents and city officials turned out Thursday for the grand opening of U.S. Rep. Steve Knight’s new SCV office in the Centre Pointe Business Park.
Knight Opens New Congressional Office in SCV
A body was found in a car in Canyon Country at about 2:20 p.m. Friday, according to Santa Clarita Valley Sheriff’s Station officials. Homicide detectives were en route to the scene as of 5:40 p.m., said Sheriff’s Station officials. The body was found near the intersection of Grandiflores Road and Canyon Rim Place in Canyon Country. More information will be added as it is made available.
Body Found in Canyon Country
Tonight on SCV NewsBreak, Los Angeles County Fire officials have issued a response to the Calgrove Fire. Plus, see what you need to do to have fun and stay out of trouble this Fourth of July. Click the link to see those stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Friday, July 3, 2015
I hope I’m not following too many horses with my Jeep. My new set of tires tends to pick up stuff and throw it a fair distance. Guess you don’t want to be in the unit following me.
T-shirt and Jeans
Santa Clarita Valley is preparing for a patriotic, colorful, and fun-filled family weekend as Independence Day approaches but the Santa Clarita Sheriff's Station and Los Angeles County Fire Department want you to be aware of dangers associated with firework related activity.
Sheriff, Fire Dept. Warn of Fireworks Dangers
Legislation by Assemblyman Scott Wilk that would better compensate hospitals for treating inmates cleared the Senate and Assembly and now awaits Gov. Jerry Brown's signature.
Wilk Bill to Pay Henry Mayo Going Rate for Inmate Care Heads to Governor
SCV Blue Heat Soccer will host their final two home games of the 2014-2015 season Friday, July 3rd and Sunday, July 5th at Masters College.
SCV Blue Heat Soccer This Weekend
Fall registration for the eight week FC Valencia Youth Soccer League is now open.
Fall Registration Open for FC Youth Soccer League
The Southern California Regional Rail Authority is slated to buy new Metrolink engines for a line that runs through the Santa Clarita Valley.
Metrolink to Add 9 Energy Efficient Engines to Local Lines
Assemblyman Scott Wilk’s AB 542 to help California Community Colleges receive funding for physical education classes offered to Middle College School students passed out of the Senate Education Committee.
Wilk Bill to Pay for PE at AOC Clears Senate Panel
The Master’s College women’s basketball team looks to a strong future with the recent signing of Madison Price.
SCCS Guard Madison Price Signs With TMC