[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 31
1923 - Newhall Chamber of Commerce petitions state to pave Spruce Street (now Main); it happens three years later [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

    NASDAQ4630.742  chart +1.41%
    S&P 5002018.05  chart +1.17%
    Bank Santa Clarit9.00  chart +0.00%
    Biosolar, Inc.0.21  chart +23.53%
    Cu Bancorp (ca)19.75  chart -0.45%
    Enable Ipc Corp0.0035  chart +0.00%
    Flextronics Inter10.72  chart +4.48%
    Linn Energy, Llc24.94  chart +0.77%
    Linn Co, Llc23.97  chart +1.31%
    Mannkind Corporat6.01  chart -1.15%
    Mission Vly Bcp C5.86  chart +0.00%
    Quest Diagnostics63.46  chart -0.03%
    Santa Clara Valle6.00  chart +1.18%
    Tejon Ranch Co Co30.18  chart +0.53%
    Us Energy Initiat0.0018  chart +5.88%
    Wesco Aircraft Ho17.75  chart -0.67%

    Apple Inc.108.00  chart +0.95%
    At&t Inc.34.84  chart +0.96%
    Autonation, Inc. 57.26  chart +2.43%
    Best Buy Co., Inc34.14  chart +1.55%
    Big Lots, Inc. Co45.65  chart +1.56%
    Barnes & Noble, I21.82  chart +2.97%
    Brady Corporation23.84  chart +2.14%
    Bre0.00  chartN/A
    Bry0.00  chartN/A
    Boston Scientific13.28  chart +0.76%
    Brookfield Reside23.25  chart -0.21%
    Cbre Group Inc Co32.00  chart +1.68%
    Carnival Corporat40.15  chart +0.20%
    Comcast Corporati55.35  chart +1.84%
    Costco Wholesale 133.37  chart +0.28%
    Curtiss-wright Co69.21  chart -1.59%
    Cvs Health Corpor85.81  chart +0.30%
    Cemex, S.a.b. De 12.30  chart +1.49%
    D.r. Horton, Inc.22.79  chart -0.09%
    Walt Disney Compa91.38  chart +1.29%
    Edison Internatio62.58  chart +0.03%
    Hyatt Hotels Corp59.22  chart -1.12%
    Home Depot, Inc. 97.52  chart +0.00%
    Kb Home Common St15.74  chart -2.24%
    Kroger Company (t55.71  chart +1.18%
    Lennar Corporatio43.08  chart -0.62%
    Laboratory Corpor109.29  chart +1.77%
    Linn Energy, Llc24.94  chart +0.77%
    Linn Co, Llc23.97  chart +1.31%
    Lowe's Companies,57.20  chart +1.65%
    Marriott Internat75.75  chart -0.33%
    Mcdonald's Corpor93.73  chart +0.37%
    Mitsubishi Ufj Fi5.88  chart +5.38%
    Netflix, Inc.392.77  chart +3.63%
    Office Depot, Inc5.22  chart +2.55%
    Regal Entertainme22.15  chart +0.18%
    Republic Services38.40  chart -3.52%
    Radioshack Corpor0.92  chart -8.00%
    Starbucks Corpora75.56  chart -2.28%
    Sears Holdings Co34.92  chart -4.95%
    Six Flags Enterta40.30  chart +0.20%
    Sonova Hldg N149.80  chart +0.33%
    Staples, Inc.12.68  chart +0.96%
    Supervalu Inc. Co8.63  chart +0.47%
    Safeway Inc. Comm34.86  chart +0.23%
    Target Corporatio61.82  chart +0.06%
    Time Warner Cable147.21  chart +3.03%
    Ulta Salon, Cosme120.81  chart +0.21%
    Walgreen Co. Comm64.22  chart +2.00%
    Waste Connections49.90  chart +0.22%
    Whole Foods Marke39.33  chart +1.44%
    Waste Management,48.89  chart +0.70%
    Wal-mart Stores, 76.27  chart -0.24%
    Woodward, Inc.51.21  chart +1.53%

    Latest Additions to SCVNews.com
    Tonight on SCV NewsBreak: Golden Oak students dressed in their Halloween costumes and collected sweet treats as they traveled “Down the Rabbit Hole" to a colorful tea party at the school's annual Fall Festival.
    SCV NewsBreak for Friday, October 31, 2014
    Charter schools provide a choice for parents to educate their children. Charters are not to be mistaken for pricey private schools, but they certainly provide what public schools are not and possibly, with all of the bureaucracies, bureaucrats and red tape, cannot.
    Schools: Public vs. Charter
    Doreetha Daniels has never been presented with a challenge quite like the one she’s taking on in the year 2014 — passing a college statistics class.
    98 is the New 21 for COC Student
    The Hart football team takes on Saugus in a Foothill League game tonight at College of the Canyons.
    SCV Sports Wrapup for Oct. 31
    Jonathan Kraut, who currently works as a state-trained PI for Net Check Investigations, performs a variety of investigative tasks to uncover the truth about his cases.
    No ‘Typical’ Day for SCV Private Investigator
    The City of Santa Clarita encourages residents to apply for the opportunity to participate in local government as the City of Santa Clarita representative of the Greater Los Angeles County Vector Control District (District) Board of Trustees. The upcoming vacancy will become available when the current term of office expires on January 5, 2015.
    City Seeks Local Rep for Vector Control Board, Applications Due Nov. 21
    Special Enforcement Officers conducted their yearly Operation Safe Halloween and found a Santa Clarita sex offender living with children.
    Deputies Arrest SCV Sex Offender Living in Home With Kids
    A lawsuit over alleged California Voting Rights Act violations prompted a Los Angeles County judge to initiate contempt proceedings against four Palmdale city officials, including a candidate for the 36th Assembly District.
    Voting Rights Lawsuit Leads to Contempt Proceedings for Palmdale
    Special Enforcement Officers (SEO) set out in the pre-dawn hours of Halloween looking to see if 66 of the Department’s highest risk child predators are in compliance with their court orders.
    Registered Sex Offender Arrested in Santa Clarita During “Operation Safe Halloween”
    Santa Clarita Valley business owners and Assemblyman Scott Wilk, R-Santa Clarita, met in Valencia on Friday to discuss how to handle small business lawsuit abuse.
    SCV Business Owners Attend Lawsuit Abuse Summit
    A Canyon Country man accused in his father’s murder was held to answer to the charges.
    Canyon Country Man to Stand Trial for Father’s Murder
    Golden Valley is still looking for its first league win in over eight years. Will it happen Friday night against the West Ranch Wildcats?
    Friday Night Football on SCVTV and KHTS
    The Master’s College women’s soccer team finished off its regular-season schedule with a 1-0 victory over the San Diego Christian Hawks at El Cajon.
    Lady Mustangs Take Down Hawks
    Coupled with wins from Westmont and Vanguard, the loss (5-4-1 GSAC, 9-8-1 overall) dropped the Mustangs (16 points) out of sole possession of third place into a fourth-place tie with Vanguard.
    Heartbreaking Regular Season Finale for TMC
    While the lowly butterfly cannot bite, cannot hit or punch and cannot kick, it is capable of protecting itself from its usual predators.
    Not So Defenseless | Commentary by Paul A. Levine
    1923 - Newhall Chamber of Commerce petitions state to pave Spruce Street (now Main); it happens three years later [story]
    SCV NewsBreak: Deputies arrested two men on felony charges Wednesday for allegedly causing several thousand dollars in damages at a local golf club.
    SCV NewsBreak for Thursday, October 30, 2014
    COBRA detectives believe Isiah Garcia has been using the graffiti monikers of “RANE” and “KASE” for over five years
    SCV Detectives Arrest Suspect in 5-Year Graffiti Investigation
    Perhaps the event’s most exciting exhibition will be its first ever water bottle rocket launching contest, to be held courtesy of the Astronomy and Physics Club (APC), Engineering Club, and the Mathematics Engineering Science Achievement (MESA) program.
    Nov 7: COC to Host Star Party
    Jurors found Eric Edwards and Diamonte McGee guilty Thursday in the 2011 Halloween murder in Canyon Country.
    Guilty Verdict in Halloween 2011 Murder Case
    The Valencia girls swept Golden Valley in three games. The Vikings are game behind Hart in the Foothill League standings at 7-1. They are 19-5 overall.
    SCV Sports Wrapup for Oct. 30
    Two free history events at Rancho Camulos Museum in Piru will take place on Nov.8 including a Living History Festival, and a fundraiser.
    Rancho Camulos Hosting Festival, Fundraiser
    Santa Clarita’s Mulligan’s Restaurant and Bar is closing down Friday after more than 40 years.
    Mulligan’s Pub Throwing in the (Bar) Towel After 40 Years