[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 22
1898 - Birth of Mary S. Ruiz, eldest child of Enrique & Rosaria Ruiz of San Francisquito Canyon; all died in 1928 dam disaster [cemetery census]

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

    NASDAQ4382.847  chart -0.83%
    S&P 5001927.11  chart -0.73%
    Bank Santa Clarit9.00  chart +0.00%
    Biosolar, Inc.0.1699  chart -22.74%
    Cu Bancorp (ca)19.23  chart +1.16%
    Enable Ipc Corp0.0038  chart +0.00%
    Flextronics Inter9.07  chart -1.20%
    Linn Energy, Llc25.19  chart -4.37%
    Linn Co, Llc23.69  chart -4.44%
    Mannkind Corporat5.39  chart -2.53%
    Mission Vly Bcp C5.86  chart -0.17%
    Quest Diagnostics61.21  chart +0.15%
    Santa Clara Valle5.93  chart +0.00%
    Tejon Ranch Co Co28.44  chart -2.50%
    Us Energy Initiat0.002  chart +17.65%
    Wesco Aircraft Ho17.05  chart -2.12%

    Apple Inc.102.99  chart +0.51%
    At&t Inc.34.50  chart -0.35%
    Autonation, Inc. 50.49  chart -1.14%
    Best Buy Co., Inc32.84  chart +0.74%
    Big Lots, Inc. Co45.60  chart -1.08%
    Barnes & Noble, I19.44  chart -0.26%
    Brady Corporation22.08  chart -1.08%
    Bre0.00  chartN/A
    Bry0.00  chartN/A
    Boston Scientific12.32  chart +2.41%
    Brookfield Reside19.01  chart -0.63%
    Cbre Group Inc Co30.14  chart +0.50%
    Carnival Corporat37.76  chart -0.63%
    Comcast Corporati51.49  chart -1.34%
    Costco Wholesale 130.54  chart +0.20%
    Curtiss-wright Co67.06  chart -1.73%
    Cvs Health Corpor83.25  chart +0.40%
    Cemex, S.a.b. De 11.59  chart -1.53%
    D.r. Horton, Inc.22.70  chart +0.89%
    Walt Disney Compa87.10  chart -0.50%
    Edison Internatio60.33  chart +0.67%
    Hyatt Hotels Corp60.05  chart -0.65%
    Home Depot, Inc. 93.34  chart -0.91%
    Kb Home Common St15.96  chart -0.31%
    Kroger Company (t54.09  chart +0.75%
    Lennar Corporatio42.80  chart -0.37%
    Laboratory Corpor101.07  chart -0.23%
    Linn Energy, Llc25.19  chart -4.37%
    Linn Co, Llc23.69  chart -4.44%
    Lowe's Companies,53.94  chart -1.19%
    Marriott Internat68.42  chart +0.00%
    Mcdonald's Corpor90.94  chart -0.08%
    Mitsubishi Ufj Fi5.34  chart -0.56%
    Netflix, Inc.374.65  chart +2.37%
    Office Depot, Inc5.02  chart -2.90%
    Regal Entertainme19.84  chart -1.10%
    Republic Services38.96  chart +0.65%
    Radioshack Corpor0.9299  chart -3.83%
    Starbucks Corpora74.60  chart +0.32%
    Sears Holdings Co34.42  chart -1.06%
    Six Flags Enterta38.90  chart +12.75%
    Sonova Hldg N141.70  chart +1.94%
    Staples, Inc.12.43  chart -0.24%
    Supervalu Inc. Co8.08  chart -3.12%
    Safeway Inc. Comm34.06  chart +0.18%
    Target Corporatio61.33  chart -0.50%
    Time Warner Cable136.05  chart -2.42%
    Ulta Salon, Cosme117.61  chart -1.14%
    Walgreen Co. Comm61.50  chart -0.08%
    Waste Connections48.71  chart +0.70%
    Whole Foods Marke37.66  chart -0.76%
    Waste Management,47.19  chart -0.15%
    Wal-mart Stores, 76.03  chart +0.01%
    Woodward, Inc.47.64  chart -1.77%

    Latest Additions to SCVNews.com
    It’s the weekend before Halloween, and local rockers are getting on their ghoul.
    SCV Entertainment Beat: Rockers are Getting Their ‘Ghoul’ On
    Tonight on SCV NewsBreak: Sheriff's deputies and the Hart School District are investigating an alleged assault that happened at Valencia High School Friday night. The fight, was caught on tape and circulated on social media early this week.
    SCV NewsBreak for Wednesday, October 22, 2014
    Margo Hudon (of Margo's boutique) and Brett Walter, field deputy to Rep. Buck McKeon, have joined the board of Single Mothers Outreach.
    Margo Hudson, Brett Walter Join SMO Board
    Things to do in & near the city of Santa Clarita.
    SCV Arts & Events: Ghost Adventures, more
    BioSolar Inc., producer of innovative bio-based solar energy products and developer of a breakthrough supercapacitor technology, announced that its innovative BioSuperCap technology will be presented at Supercapacitors USA 2014 at Santa Clara during the week of Nov. 19
    Local Solar Energy Tech Firm to Present at Conference
    The City of Santa Clarita is offering complimentary California native oak trees to residents in honor of the community’s annual “Oaktober” celebration. Residents can contact the City through November 7, 2014 to order the free trees, which are exempt from the City’s Oak Tree Preservation and Protection Ordinance.
    Free Oak Trees in “Oaktober”
    The doors to "Beware the Dark Realm" open this Friday, Oct. 24. The haunted house located at 28621 Sugar Pine Way in Saugus is raising funds and collecting supplies for the SCV Food Pantry.
    ‘Beware the Dark Realm’ and Help the Needy
    The Hart girls volleyball team is still rolling. The Hart girls swept Canyon, 3-0, and are undefeated in first place in the Foothill League standings.
    SCV Sports Roundup for Oct. 22
    Free training sessions for local entrepreneurs, from the Small Business Development Center at College of the Canyons.
    COC Small Business Center: Lesson in Crowdfunding, more
    Los Angeles County Supervisor Don Knabe is pleased to announce the County’s Safe Surrender Program celebrated success for the tenth time this year with the report of a safely surrendered newborn baby boy.
    Baby Safely Surrendered at Tarzana Hospital
    According to the college’s grant proposal, there are numerous challenges facing Latino students at COC. Seventy percent of students who are Latino work part-time, with an additional 25 percent committed to full-time jobs. Simply put, the resources that a Title V grant provides for COC will make it easier to address these issues with new procedures and increasingly specific objectives.
    COC Awarded $2.6M Title V Grant
    A disturbing video has surfaced on social media showing a group of high school-aged boys attacking another boy at Valencia High School.
    Deputies Investigate Valencia Attack Caught on Camera
    Longtime Canyon Country resident Jennifer Trosper is one of 440 Jet Propulsion Lab employees who makes the commute from the Santa Clarita Valley to the laboratory in Pasadena every weekday. Santa Clarita Resident Discusses Work At NASA’s Jet Propulsion LJPL is administered by CalTech and funded through NASA, and Trosper is currently the deputy project manager for the Curiosity rover, which is seeking evidence of Mars’ ability to sustain life.
    SCV Resident Discusses Working for NASA-JPL
    Tim Disney, entrepreneur and co-founder of independent film and documentary production company Uncommon Productions, has been appointed Chairman of CalArts’ Board of Trustees.
    Tim Disney Named Chairman of Board of CalArts
    Playing to a packed house of five hundred eager fans, Loggins and his band wowed the audience with a performance that included all of their favorite hits from his extensive songbook, while providing a level of intimacy with personal introductions of each song.
    Golden Valley Marching Band Joins Kenny Loggins on Stage
    Deputies from the Santa Clarita Valley Sheriff’s Station are asking the public to stop by the Annual Haunted Jailhouse Halloween event on Sunday, Oct. 26, from 11 a.m. to 4 p.m.
    SCV Deputies Hosting Haunted Jailhouse Sunday
    [KHTS] Carolann Scott, 22, of Agua Dulce, was crowned Miss Rodeo California 2015 on Oct. 18 after a four-day-long competition of speeches, interviews and horsemanship tests.
    Agua Dulce Cowgirl Named Miss Rodeo California 2015
    Jim McDonnell isn't “in” the LASD. He is the city of Long Beach Police Chief. He knows Los Angeles County and wants to see it improve. To do that, he has to be elected so the LASD can be professional from the top down again. All of those great deputies need and deserve the leadership Jim McDonnell can provide.
    Our Next Sheriff
    1898 - Birth of Mary S. Ruiz, eldest child of Enrique & Rosaria Ruiz of San Francisquito Canyon; all died in 1928 dam disaster [cemetery census]
    OutWest Boutique and Cultural Center is pleased to present the work of artist Al P. Bringas featured to illustrate the new book "West to Bravo: A Western Novel" by Eric H. Heisner. Join us for a special Artist Reception and Author Book Signing at OutWest in Old Town Newhall on Sunday Nov. 2 from 2pm-5pm.
    OutWest Boutique and Cultural Center Hosts Artist Reception / Costume Contest
    The Dia De Los Muertos Santa Clarita Valley will feature entertainment and activities throughout the day culminating in a service co-celebrated by Father Norm from St. Kateri Tekakwitha Catholic Church in Santa Clarita and Capitana Maria E. Soria.
    Nov. 1: Dia De Los Muertos at Eternal Valley
    Tonight on SCV NewsBreak: Two people are recovering from injuries they sustained when a Canyon Country home went up in flames Monday night.
    SCV NewsBreak for Tuesday, October 21, 2014
    Two goals for the College of the Canyons women's soccer team were enough for the Cougars to secure a 2-0 win over West L.A. College on Friday afternoon.
    Canyons Earns 10th Straight Win in Shut Out
    The COC cross country teams achieved a school first at last Friday's Mt. SAC Invite, as the Cougars won the event's 'combined sweepstakes' title as the program with the best men's and women's overall performance.
    COC Cross Country Wins Mt. SAC Sweepstakes