[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
Inside
Weather
Santa Clarita CA
Clear
Clear
83°F
 
Calendar
Today in
S.C.V. History
March 26
1821 - SCV (and Alta Calif.) becomes territory of Mexico, during war for Mexican independence from Spain [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

    LOCAL BUSINESS LINKS
    LOCAL BUSINESS HEADLINES
    FINANCIALS OF LOCAL INTEREST
    MARKETS & METALS
    NASDAQ4863.36  chart -0.27%
    S&P 5002056.15  chart -0.24%
    STOCKS OF LOCAL INTEREST
    Bank Santa Clarita9.30  chart +0.00%
    Biosolar, Inc.0.0897  chart +12.12%
    Sierra Bancorp16.88  chart +0.00%
    Cu Bancorp (ca)22.72  chart +0.40%
    Enable Ipc Corp0.0033  chart -15.38%
    Flextronics International Ltd.12.34  chart +1.06%
    Linn Energy, Llc11.84  chart -1.82%
    Linn Co, Llc10.30  chart -0.87%
    Mannkind Corporation5.11  chart +0.20%
    Mission Vly Bcp Ca6.25  chart +0.00%
    Quest Diagnostics Incorporated 75.87  chart -0.09%
    Tejon Ranch Co Common Stock26.96  chart +1.13%
    Us Energy Initiative0.001  chart +0.00%
    Wesco Aircraft Holdings, Inc. C15.33  chart -0.52%

    Apple Inc.124.24  chart +0.70%
    At&t Inc.32.82  chart +0.61%
    Autonation, Inc. Common Stock61.60  chart -0.71%
    Best Buy Co., Inc. Common Stock38.40  chart -2.59%
    Big Lots, Inc. Common Stock48.73  chart -0.71%
    Barnes & Noble, Inc. Common Sto22.74  chart +0.13%
    Brady Corporation Common Stock27.66  chart -1.00%
    Boston Scientific Corporation C17.44  chart -0.46%
    N/aN/A  chartN/A
    Cbre Group Inc Common Stock Cla35.65  chart +0.45%
    Carnival Corporation Common Sto44.42  chart +0.05%
    Comcast Corporation55.91  chart -1.10%
    Costco Wholesale Corporation150.06  chart -0.68%
    Curtiss-wright Corporation Comm71.59  chart +1.34%
    Cvs Health Corporation Common S101.99  chart -0.72%
    Cemex, S.a.b. De C.v. Sponsored9.44  chart -2.88%
    D.r. Horton, Inc. Common Stock26.69  chart -0.82%
    Walt Disney Company (the) Commo105.24  chart +0.23%
    Edison International Common Sto62.23  chart -0.56%
    Hyatt Hotels Corporation Class 57.86  chart +2.83%
    Home Depot, Inc. (the) Common S112.37  chart -1.15%
    Kb Home Common Stock15.11  chart -0.98%
    Kroger Company (the) Common Sto76.09  chart +0.22%
    Lennar Corporation Class A Comm49.42  chart -0.52%
    Laboratory Corporation Of Ameri125.80  chart -0.86%
    Linn Energy, Llc11.84  chart -1.82%
    Linn Co, Llc10.30  chart -0.87%
    Lowe's Companies, Inc. Common S72.86  chart -1.89%
    Marriott International - Class 80.575  chart +0.98%
    Mcdonald's Corporation Common S97.64  chart -0.51%
    Mitsubishi Ufj Financial Group,6.42  chart -1.08%
    Netflix, Inc.418.26  chart -0.83%
    Office Depot, Inc.9.23  chart -0.75%
    Rexford Industrial Realty, Inc.15.81  chart -1.19%
    Regal Entertainment Group Class23.01  chart +1.05%
    Republic Services, Inc. Common 40.30  chart -0.67%
    Radioshack Corp.N/A  chartN/A
    Starbucks Corporation95.08  chart -0.72%
    Sears Holdings Corporation41.77  chart +0.65%
    Six Flags Entertainment Corpora47.89  chart +0.08%
    Sonova Hldg N136.10  chart -0.66%
    Staples, Inc.16.02  chart -3.14%
    Sunpower Corporation31.67  chart -0.41%
    Supervalu Inc. Common Stock11.22  chart -0.18%
    Safeway Inc.N/A  chartN/A
    Target Corporation Common Stock80.44  chart -1.45%
    Time Warner Cable Inc Common St147.75  chart -0.87%
    Ulta Salon, Cosmetics & Fragran150.005  chart -1.04%
    Waste Connections, Inc. Common 47.76  chart -0.29%
    Whole Foods Market, Inc.52.15  chart +1.07%
    Waste Management, Inc. Common S53.40  chart -0.85%
    Wal-mart Stores, Inc. Common St81.89  chart +0.70%
    Woodward, Inc.50.29  chart -0.61%
    CURRENCY CONVERTER

    Latest Additions to SCVNews.com
    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
    Every year, hundreds of Santa Clarita residents come together to raise funds for the Santa Clarita Valley Senior Center at the Celebrity Waiter Dinner. This year, the event raised $80,000, said Linda Leiblang, associate executive director of the Santa Clarita Valley Senior Center.
    SCV Senior Center Celebrity Waiter Dinner Raises $80K
    Coroner officials identified one of the two people killed Wednesday in a head-on collision in Canyon Country, officials announced Thursday.
    One of Two Fatal Crash Victims ID’d
    A group of California legislators, including Attorney General Kamala Harris, have filed a complaint against a lawyer who is proposing a statewide ballot initiative that would allow gays and lesbians to be “put to death by bullets to the head."
    Calif. Attorney General Attempts To Block Anti Gay Ballot Measure
    On Saturday, March 28, 2015, Circle of Hope will open "Hope's Closet," a ladies' resale shop featuring all manner of ladies' garments, shoes and accessories. The limited time sale will run for 8 days only (or until sold out) at 23333 Cinema Drive, Suite 100, in Valencia.
    March 28: Hope’s Closet Boutique Sale to Benefit Local Cancer Patients
    1821 - SCV (and Alta Calif.) becomes territory of Mexico, during war for Mexican independence from Spain [story]
    The foxtail is one of the most dangerous plants to animals. Dogs get the spiky, dry flowers in their ears, eyes, between their toe pads and even under their skin. Even humans get these weeds stuck in their socks, shoes and clothing. There is a safe way to eradicate them.
    The Dreaded Foxtail | Commentary by Mari Carbajal
    The new 46,000-square-foot facility which includes Admissions & Records; computer labs; a Welcome Center; Financial Aid; Career Center; College of the Canyons Foundation; Community Education; Non-Credit and Continuing Education; Re-Entry Services; Switchboard/ Mailroom; Student Services; Public Information; Instruction; and Administrative offices.
    COC Hosts Canyons Hall Ribbon Cutting/Open House
    CSUN will house nearly 500 athletes from Azerbaijan, Greece, Malta, Serbia, Venezuela and Vietnam from July 21-24 as they train and prepare for the Special Olympics World Games.
    CSUN to Host 500 Special Olympians During World Games Prep
    Tonight on SCV NewsBreak, California Highway Patrol officers are investigating a fatal crash that resulted in two deaths on Soledad Canyon Road in Canyon Country plus the owner of Tandoori Grill in Valencia was arrested for holding another man against his will and forcing him to work.
    SCV NewsBreak for Wednesday, March 25, 2015
    The Board action represents the first comprehensive update to development regulations in the unincorporated areas since 1980.
    Supervisors Update Development Regulations for Unincorporated Communities
    Santa Clarita Valley deputies arrested a restaurant owner for involuntary servitude and human trafficking charges, officials said.
    Newhall Man Arrested For Human Trafficking Charge
    Santa Clarita officials voted to abandon red-light cameras throughout the city Tuesday, after a 3-2 vote and questions about their cost and efficiency.
    Santa Clarita To Remove Red Light Cams
    The district­wide competition is sponsored by the Adapted Physical Education Department and the Special Olympics, with a goal of stimulating an interest in physical activity among students receiving specialized instruction, and rewarding those who achieve.
    March 31: Hart Games, ­Track and Field Meet
    "Art for Jack" celebrates the artistic and creative talent of children with art workshops, professional and student exhibits, and a concert of young performing artists, including works of Paganini, Tchaiovsky, and Mozart, to help raise awareness for pediatric brain tumors—specifically DIPG, which has had no survivors in more than 30 years.
    May 3: “Art for Jack” Music and Art Festival for Children
    California Highway Patrol officers are investigating the fatal crash which was reported around 8:45 a.m. in the 13100 block of Soledad Canyon Road, according to Los Angeles County Fire officials, who responded to the scene along with CHP officers.
    Head-On Collision Kills 2 in Canyon Country
    Two patients, one who waited seven years, underwent a newly approved heart procedure today at Providence Saint John’s Health Center utilizing a device that guards against stroke and blood clots for those who suffer from irregular heart rhythms – atrial fibrillation, according to a news release.
    Providence Patients Receive Newly Approved Heart Device
    1889 - Castaic School District established [story]