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

SCVNews.com | Entry-level Condos are Hot; Single-Family Prices Climb | 09-24-2013
Santa Clarita CA
Today in
S.C.V. History
October 1
1842 - New York Observer (newspaper) reports on Placerita gold discovery [story]

homepriceshomesalesSanta Clarita Valley home prices  returned to pre-recession levels in August as the typical previously owned single-family home changed hands for $450,000. The figure was last seen in August 2008.

Condominium prices slipped slightly to $295,000 in August from their 5-year high of $300,000 set in July.

More condos were sold in August, however (129). In fact, the last time that many condos closed escrow was April 2006.

“As prices rise, and with last month’s slight uptick in interest rates, buyers focused heavily on properly priced, entry-level properties,” said Bob Khalsa, president of the Southland Regional Association of Realtors’ SCV Division. “That’s one reason why condo sales picked up during August.”

On the flip side, only 176 single-family homes closed escrow in August. That’s the slowest August for single-family home sales since August 1997.

But there are some reasons for Realtors to be optimistic.

For one thing, the number of traditional sales vs. foreclosures continues to improve. As recently as November 2012, short sales – bank approved sales for an amount that’s “short” of what is owed on the loan – accounted for 47.9 percent of all sales in the SCV. Turn up the clock to August, and short sales represent just 18.7 percent of the total. Standard sales comprised 77 percent of the market, while REOs (foreclosures) represented just 4.3 percent.

Also, more inventory appears to be one the way. Active listings on SRAR’s Multiple Listing Service stood at 517 (379 single-family, 138 condos) as of Aug. 31. That’s still only a 1.7-month supply of homes – a five- to six-month supply is reflective of a healthy market – but it was the second consecutive monthly increase.

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.

No Comments

    NASDAQ4422.085  chart -1.59%
    S&P 5001946.16  chart -1.32%
    Bank Santa Clarit9.00  chart +0.00%
    Biosolar, Inc.0.215  chart -2.27%
    Cu Bancorp (ca)18.74  chart -0.32%
    Enable Ipc Corp0.004  chart +0.00%
    Flextronics Inter10.00  chart -3.10%
    Linn Energy, Llc29.58  chart -1.86%
    Linn Co, Llc28.79  chart -0.55%
    Mannkind Corporat5.73  chart -3.05%
    Mission Vly Bcp C6.00  chart +0.00%
    Quest Diagnostics60.32  chart -0.59%
    Santa Clara Valle5.91  chart +0.00%
    Tejon Ranch Co Co28.24  chart +0.71%
    Us Energy Initiat0.0019  chart +5.56%
    Wesco Aircraft Ho16.76  chart -3.68%

    Apple Inc.99.18  chart -1.56%
    At&t Inc.34.96  chart -0.79%
    Autonation, Inc. 49.10  chart -2.41%
    Best Buy Co., Inc32.62  chart -2.89%
    Big Lots, Inc. Co42.75  chart -0.70%
    Barnes & Noble, I19.27  chart -2.38%
    Brady Corporation22.25  chart -0.85%
    Bre0.00  chartN/A
    Bry0.00  chartN/A
    Boston Scientific11.80  chart -0.08%
    Brookfield Reside18.82  chart -0.37%
    Cbre Group Inc Co29.18  chart -1.88%
    Carnival Corporat39.14  chart -2.56%
    Comcast Corporati52.93  chart -1.58%
    Costco Wholesale 124.76  chart -0.45%
    Curtiss-wright Co64.50  chart -1.96%
    Cvs Health Corpor79.14  chart -0.57%
    Cemex, S.a.b. De 12.73  chart -2.38%
    D.r. Horton, Inc.20.32  chart -0.97%
    Walt Disney Compa87.49  chart -1.73%
    Edison Internatio56.68  chart +1.36%
    Hyatt Hotels Corp58.55  chart -3.26%
    Home Depot, Inc. 91.02  chart -0.78%
    Kb Home Common St14.80  chart -0.94%
    Kroger Company (t51.60  chart -0.77%
    Lennar Corporatio38.55  chart -0.72%
    Laboratory Corpor101.18  chart -0.56%
    Linn Energy, Llc29.58  chart -1.86%
    Linn Co, Llc28.79  chart -0.55%
    Lowe's Companies,52.60  chart -0.60%
    Marriott Internat67.94  chart -2.80%
    Mcdonald's Corpor94.19  chart -0.65%
    Mitsubishi Ufj Fi5.56  chart -0.89%
    Netflix, Inc.438.80  chart -2.74%
    Office Depot, Inc5.01  chart -2.53%
    Regal Entertainme19.52  chart -1.81%
    Republic Services37.89  chart -2.90%
    Radioshack Corpor0.9745  chart -1.57%
    Starbucks Corpora74.61  chart -1.13%
    Sears Holdings Co25.18  chart -0.20%
    Six Flags Enterta34.02  chart -1.08%
    Sonova Hldg N148.40  chart -2.75%
    Staples, Inc.11.86  chart -1.98%
    Supervalu Inc. Co8.64  chart -3.36%
    Safeway Inc. Comm34.18  chart -0.35%
    Target Corporatio62.07  chart -0.97%
    Time Warner Cable141.90  chart -1.11%
    Ulta Salon, Cosme115.83  chart -1.98%
    Walgreen Co. Comm59.04  chart -0.39%
    Waste Connections47.63  chart -1.83%
    Whole Foods Marke37.85  chart -0.68%
    Waste Management,47.15  chart -0.80%
    Wal-mart Stores, 76.12  chart -0.46%
    Woodward, Inc.46.55  chart -2.25%

    Latest Additions to SCVNews.com
    Deputies Sean Robert Caples and Patrick James Ince have been selected to receive Valor Awards on Thursday for their acts of heroism.
    SCV Deputies Caples, Ince to be Awarded for Heroism
    31st Annual Golf Tournament to benefit Circle of Hope.
    Oct. 20: Circle of Hope Golf Tournament
    The County of Los Angeles Department of Parks and Recreation in cooperation with the Santa Clarita Valley Rose Society, is presenting its 21st Annual Wild West Roses Rose Show & 3rd Annual Rose Art Exhibition.
    Call for Entries: Rose Show Art Exhibit at Hart Park
    One sock two sock, red sock blue sock. It doesn’t matter the color, Family Promise SCV wants your donation of new socks.
    Homeless Services Group Collecting Socks for ‘Socktober’
    Following the discovery of a deceased newborn baby at a recycling facility in Hesperia earlier today, Los Angeles County Supervisor Don Knabe is reminding the public about the County’s Safe Surrender program.
    Dead Baby Found in Trash Prompts Reminder of ‘Safe Surrender’
    Sulphur Springs School District officials are continuing to gather voter input on possible electoral districts as part of their settlement of a California Voting Rights Act lawsuit.
    Oct. 15: Next Public Input Meeting on Sulphur Springs Electoral Districts
    The HDC environmental and technical studies will consider the importance of improved access and connectivity to regional transportation facilities, including airports, existing passenger rail and future high speed rail systems, officials say.
    Caltrans, Metro Release Impact Reports on High Desert Corridor Plan
    CBS has been ordered to pay $10.45 million in the wrongful death of a Reseda man who was killed while working on “NCIS” in Santa Clarita.
    CBS Ordered to Pay $10.45 Mil. in SCV Wrongful Death Case
    Join Red Rock Canyon State Park staff and volunteers on Saturday October 4th at 9 a.m. for a campground beautification day at Red Rock State Park, then hop over to the Antelope Valley Indian Museum for the annual American Indian Celebration.
    State Parks Events in Oct.: Red Rock, AV Indian Museum, more
    Pedestrian injuries are the fifth leading cause of injury-related death in the United States for children ages 5 to 19. Whether your child is walking to school, to a friend’s house, or the park, here are a few simple tips to make sure they arrive at their destination safely.
    Tips for Pedestrians, Child Safety
    Stevenson Ranch & Westridge, Zone 3 Public Safety and Crime Prevention Info Snapshot 09/22/2014 to 09/28/2014 Santa Clarita Valley Sheriff’s Station Crime Prevention Unit
    Crime Blotter: Stevenson Ranch-Westridge
    Turns out, the endangered Delta smelt isn't to blame for our water shortage this year. Instead it's the smelt's much bigger brother, the salmon.
    Shower with a Friend
    Funding top-notch law enforcement service, investing in our infrastructure, protecting our beautiful open spaces, adding state-of-the-art amenities such as parks, bike paths, community centers, libraries, transit and trails all contribute to this wonderful place we love to call home.
    Message from the Mayor
    1842 - New York Observer (newspaper) reports on Placerita gold discovery [story]
    Tonight on SCV NewsBreak: Gov. Jerry Brown signed a statewide plastic bag ban into law on Tuesday. Plus, Santa Clarita city officials are beginning the process for looking into a potential library in Saugus. More on those stories and other local news.
    SCV NewsBreak for Tuesday, September 30, 2014
    Patrol deputies assigned to four L.A. County Sheriff stations - Lancaster, Temple, Century and Carson - will be testing a wearable camera system as part of a pilot program that could lead to as department-wide rollout.
    Lancaster Deputies to Test Body Cams; Potential for Countywide Rollout
    The ducks have landed and appear to be ready for the 12th Annual Rubber Ducky Regatta on Saturday at Bridgeport Park in Valencia.
    Annual Sam Dixon Duckfest Coming Saturday
    Three Los Angeles County-sponsored bills that aim to crack down on the demand-side of the illicit child sex trafficking industry were signed into law by California Governor Jerry Brown over the weekend.
    New Laws Authorize Wiretaps for Human Traffickers, more
    Upcoming training sessions for local entrepreneurs, from the Small Business Development Center at College of the Canyons.
    SBDC: How to Use LinkedIn for Business Development; more
    Santa Clarita city officials are welcoming public input at a meeting about a possible library location in Saugus.
    Where in Saugus Should a Library Go? Meeting Tuesday
    Historic legislation signed Monday by Governor Jerry Brown could provide local residents with another option to earn a bachelor’s degree in the Santa Clarita Valley.
    Signed Bill Could Lead to One 4-Year Degree Program at COC ‘Proper’
    A solar observatory just south of Santa Clarita is being moved to the California State University, Northridge campus, where students and faculty will find it easier to access the facility to monitor the sun’s radiation as it nourishes the earth.
    Solar Observatory Moving from DWP Land to CSUN Campus
    Learn the basics social media and how to maximize varoius platforms in your job search during a free workshop at COC's Career Center on Oct. 23.
    Learn How to Maximize a Job Search Using Social Media
    The Santa Clarita WorkSource Center nominates local movies buffs to apply for more than 100 positions as assemblers to package DVDs for the Academy Awards.
    Job Opportunity: Packaging Screener DVDs for Academy Awards