[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
Inside
Weather
Santa Clarita CA
Clear
Clear
63°F
 
Calendar
Today in
S.C.V. History
March 29
1928 - Little dam victim, thought unidentified & buried in SCV, actually ID'd & buried in Chatsworth [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.

LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
NASDAQ4891.22  chart +0.57%
S&P 5002061.02  chart +0.24%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita9.30  chart +0.00%
Biosolar, Inc.0.0801  chart -10.70%
Sierra Bancorp16.98  chart +0.59%
Cu Bancorp (ca)22.75  chart +0.13%
Enable Ipc Corp0.0033  chart +0.00%
Flextronics International Ltd.12.38  chart +0.32%
Linn Energy, Llc11.57  chart -2.28%
Linn Co, Llc9.84  chart -4.47%
Mannkind Corporation5.24  chart +2.54%
Mission Vly Bcp Ca6.25  chart +0.00%
Quest Diagnostics Incorporated 76.22  chart +0.46%
Tejon Ranch Co Common Stock26.88  chart -0.30%
Us Energy Initiative0.0011  chart +10.00%
Wesco Aircraft Holdings, Inc. C15.43  chart +0.65%

Apple Inc.123.25  chart -0.80%
At&t Inc.32.75  chart -0.21%
Autonation, Inc. Common Stock63.00  chart +2.27%
Best Buy Co., Inc. Common Stock38.48  chart +0.21%
Big Lots, Inc. Common Stock48.99  chart +0.53%
Barnes & Noble, Inc. Common Sto23.26  chart +2.29%
Brady Corporation Common Stock27.65  chart -0.04%
Boston Scientific Corporation C17.83  chart +2.24%
N/aN/A  chartN/A
Cbre Group Inc Common Stock Cla35.93  chart +0.79%
Carnival Corporation Common Sto47.12  chart +6.08%
Comcast Corporation55.94  chart +0.05%
Costco Wholesale Corporation150.47  chart +0.27%
Curtiss-wright Corporation Comm71.86  chart +0.38%
Cvs Health Corporation Common S102.50  chart +0.50%
Cemex, S.a.b. De C.v. Sponsored9.47  chart +0.32%
D.r. Horton, Inc. Common Stock27.43  chart +2.77%
Walt Disney Company (the) Commo105.48  chart +0.23%
Edison International Common Sto62.18  chart +0.60%
Hyatt Hotels Corporation Class 58.70  chart +1.45%
Home Depot, Inc. (the) Common S113.86  chart +1.33%
Kb Home Common Stock15.28  chart +1.13%
Kroger Company (the) Common Sto76.33  chart +0.32%
Lennar Corporation Class A Comm50.43  chart +2.04%
Laboratory Corporation Of Ameri127.15  chart +1.07%
Linn Energy, Llc11.57  chart -2.28%
Linn Co, Llc9.84  chart -4.47%
Lowe's Companies, Inc. Common S73.67  chart +1.11%
Marriott International - Class 80.82  chart +0.31%
Mcdonald's Corporation Common S96.96  chart -0.70%
Mitsubishi Ufj Financial Group,6.36  chart -0.93%
Netflix, Inc.414.77  chart -0.83%
Office Depot, Inc.9.24  chart +0.11%
Rexford Industrial Realty, Inc.15.60  chart -0.57%
Regal Entertainment Group Class23.15  chart +0.61%
Republic Services, Inc. Common 40.17  chart -0.32%
Radioshack Corp.N/A  chartN/A
Starbucks Corporation95.07  chart -0.01%
Sears Holdings Corporation42.40  chart +1.51%
Six Flags Entertainment Corpora48.56  chart +1.40%
Sonova Hldg N135.30  chart -0.59%
Staples, Inc.16.115  chart +0.59%
Sunpower Corporation31.68  chart +0.03%
Supervalu Inc. Common Stock11.37  chart +1.34%
Safeway Inc.N/A  chartN/A
Target Corporation Common Stock81.56  chart +1.39%
Time Warner Cable Inc Common St147.28  chart -0.32%
Ulta Salon, Cosmetics & Fragran151.20  chart +0.79%
Waste Connections, Inc. Common 47.96  chart +0.42%
Whole Foods Market, Inc.51.93  chart -0.42%
Waste Management, Inc. Common S53.40  chart +0.00%
Wal-mart Stores, Inc. Common St81.35  chart -0.66%
Woodward, Inc.50.41  chart +0.24%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
1928 - Little dam victim, thought unidentified & buried in SCV, actually ID'd & buried in Chatsworth [story]
Hundreds of Santa Clarita Valley mountain bike riders are gathering at Castaic Lake this weekend for a two-day event.
Santa Clarita Valley Riders Race Around Castaic Lake
The training program teaches trainees the theory of appraisal and techniques of valuing real and personal property for assessment purposes. Part of the yearlong training program is devoted to classroom study; the balance of time is spent in the field, training under the direction of experienced appraisers.
County Assessor Hosting Training Program
1923 - Lawman Jack Pilcher appointed to Newhall Chamber of Commerce board [story]
Judith Crowe will demonstrate pastel painting at the May 18 meeting of the Santa Clarita Artists' Association (SCAA). This event is free, open to the public and meets at 6:30 pm at Barnes & Noble, 23630 Valencia Blvd.
May 18: SCAA to Host Pastel Painting Demonstration
The faculty and students in California State University, Northridge’s music department will be in “fool swing” next week to raise money for student scholarships.
April Fools’ Day Comedy Show Benefits Student Scholarships at CSUN
Tonight on SCV NewsBreak, the female victim of a fatal crash has been identified plus we talk about what you can look forward to seeing on SCVTV on Saturday.
SCV NewsBreak for Wednesday, March 27, 2015
The Recruitment Fair is an opportunity for those seeking a Deputy Sheriff Trainee position to meet and greet with various deputy personnel who work at different assignments within the Department. The Recruitment Fair will feature the diversity in assignments of a deputy sheriff.
Sheriff’s Department Recruiting Deputies
The California Department of Transportation (Caltrans) plans to implement the closures listed below March 30 – April 4, 2015, for striping and signage work. Detours will be provided.
I-5 and SR-14 Closure Alert
The ACSA recently named Winger to receive this year’s Ferd Kiesel Memorial Distinguished Service Award. Named for the association’s founding president, the award is presented to those who have had a significant impact on public education over a wide geographical area, and who have made contributions that have had an impact on significant segments of public education.
Former Newhall District Superintendent Receives State Award
An official with the Los Angeles County Coroner’s Office identified the second of two victims from a fatal, head-on collision in Canyon Country.
Second Victim ID’ed In Canyon Country Fatal Crash
The deputy district attorney who reviewed the accusations against the owner of Tandoori Grill found “the allegations in the letter were not substantiated,” leading to the charges being dropped Thursday.
Report: Charges Rejected Against Business Owner Due To ‘Inconsistencies’
Local teen artists are being invited to submit their artwork and win a complimentary trip to Washington, D.C. to see their artwork displayed in the Capital Building, officials announced Friday.
SCV Artists Could Have Work Displayed In Capitol Building
Saugus Union School District officials approved nine members for an oversight committee intended to keep an eye out on the $148 million bond measure voters approved in November.
Saugus District Approves Measure EE Oversight Committee
Six Flags Magic Mountain officials expect construction on Twisted Colossus to finish soon, they said Friday, during a walking tour of the park.
Six Flags Magic Mountain Twisted Colossus Almost Complete
1847 - Probable birth date of Pico Canyon oil driller Charles Alexander Mentry [story]
SCV NewsBreak: Valencia High grad and Super Bowl champ Shane Vereen was given a key to the city at a special luncheon held in his honor Thursday.
SCV NewsBreak for Thursday, March 26, 2015
Hundreds gathered Thursday at the Hyatt Regency Valencia to hear New York Giants running back Shane Vereen talk about his career, Super Bowl championship and Santa Clarita upbringing, including his first coach.
Super Bowl Champion Shane Vereen Talks To SCV Crowd
Get ready for music, and dancing, and live performances and family fun. The Latin Music and Cultural Festival is coming to Santa Clarita, Saturday July 11th. The Festival will be the opening event for the LA SummerFEST
July 11: Latin Music and Cultural Festival coming to Santa Clarita
Jessica’s Law authors George and Sharon Runner today responded to a decision by the California Department of Corrections and Rehabilitation to stop enforcing Jessica’s Law residency restrictions statewide:
Runners Respond to Corrections Decision on Jessica’s Law
It’s gonna be a Wumbloozo Saturday night both onstage and on the tube here in the Santa Clarita Valley. The award-winning SCV Blues Society band plays live at Vincenzo’s on Lyons Avenue in Newhall from 8:30 to 10:30 p.m. The best pizza in town, with all kinds of sodas and beers. Call 259-6733 for details.
SCV Entertainment Beat: Wumbloozo on House Blend; Summer Meltdown
City of Santa Clarita DFYIT Program members are hosting “X-Week” at more than a dozen local junior high and high schools to encourage teens in Santa Clarita to be drug-free.
Santa Clarita Teens Pledge To Be Drug-Free With DFYIT
Crime reports for Stevenson Ranch 3/16-3/22
Blotter: Stevenson Ranch, Zone 3
The Los Angeles County District Attorney’s Office declined to press charges against the owner of Tandoori Grill, officials said Thursday.
D.A. Declines to Charge Tandoori Grill Owner with Trafficking