[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
Partly cloudy
Partly cloudy
63°F
 
Calendar
Today in
S.C.V. History
May 1
1999: "Spongebob SquarePants" pilot airs on Nickelodeon; created by '92 CalArts grad Stephen Hillenburg [timeline]


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

    Leave a Comment


    LOCAL BUSINESS LINKS
    LOCAL BUSINESS HEADLINES
    FINANCIALS OF LOCAL INTEREST
    MARKETS & METALS
    NASDAQ4775.36  chart -0.62%
    S&P 5002065.30  chart -0.51%
    STOCKS OF LOCAL INTEREST
    Bank Santa Clarita9.70  chart -2.02%
    Biosolar, Inc.0.24  chart -4.00%
    Sierra Bancorp17.61  chart -0.17%
    Cu Bancorp (ca)23.04  chart +0.09%
    Enable Ipc Corp0.0023  chart +0.00%
    Flextronics International Ltd.12.15  chart -1.30%
    Linn Energy, Llc0.37  chart +5.71%
    Linn Co, Llc0.408  chart -2.16%
    Mannkind Corporation1.35  chart -6.25%
    Mission Vly Bcp Ca8.00  chart +0.00%
    Quest Diagnostics Incorporated 75.17  chart -0.21%
    Tejon Ranch Co Common Stock22.52  chart -0.49%
    Us Energy Initiative0.0002  chart +0.00%
    Wesco Aircraft Holdings, Inc. C14.43  chart -0.28%

    Apple Inc.93.74  chart -1.15%
    At&t Inc.38.82  chart +0.47%
    Autonation, Inc. Common Stock50.65  chart -0.10%
    Best Buy Co., Inc. Common Stock32.08  chart -1.75%
    Big Lots, Inc. Common Stock45.86  chart -2.26%
    Barnes & Noble, Inc. Common Sto11.75  chart -1.92%
    Brady Corporation Common Stock26.49  chart -0.93%
    Boston Scientific Corporation C21.92  chart +0.41%
    N/a24  chart +0.00%
    Cbre Group Inc Common Stock Cla29.63  chart -4.05%
    Carnival Corporation Common Sto49.05  chart +0.70%
    Comcast Corporation60.76  chart -0.64%
    Costco Wholesale Corporation148.13  chart -2.19%
    Curtiss-wright Corporation Comm76.58  chart -0.94%
    Cvs Health Corporation Common S100.50  chart -0.70%
    Cemex, S.a.b. De C.v. Sponsored7.45  chart +2.34%
    D.r. Horton, Inc. Common Stock30.06  chart -0.99%
    Walt Disney Company (the) Commo103.26  chart -0.74%
    Edison International Common Sto70.71  chart +0.86%
    Hyatt Hotels Corporation Class 47.88  chart -0.10%
    Home Depot, Inc. (the) Common S133.89  chart +0.87%
    Kb Home Common Stock13.57  chart -0.51%
    Kroger Company (the) Common Sto35.39  chart -1.48%
    Lennar Corporation Class A Comm45.31  chart -1.07%
    Laboratory Corporation Of Ameri125.32  chart -0.20%
    Linn Energy, Llc0.37  chart +5.71%
    Linn Co, Llc0.408  chart -2.16%
    Lowe's Companies, Inc. Common S76.02  chart +0.84%
    Marriott International70.09  chart +1.23%
    Mcdonald's Corporation Common S126.49  chart -1.12%
    Mitsubishi Ufj Financial Group,4.60  chart -1.08%
    Netflix, Inc.90.03  chart -0.28%
    Office Depot, Inc.5.88  chart -2.33%
    Rite Aid Corporation Common Sto8.05  chart +0.12%
    Rexford Industrial Realty, Inc.18.77  chart -0.90%
    Regal Entertainment Group Class20.85  chart -4.09%
    Ross Stores, Inc.56.78  chart -1.15%
    Republic Services, Inc. Common 47.07  chart -0.38%
    N/aN/A  chartN/A
    Starbucks Corporation56.23  chart -0.34%
    Smart & Final Stores, Inc. Comm15.92  chart -3.28%
    Sears Holdings Corporation16.375  chart -9.33%
    Six Flags Entertainment Corpora60.05  chart -1.78%
    Sonova Hldg N128.20  chart -0.78%
    Staples, Inc.10.20  chart -1.73%
    Sunpower Corporation20.14  chart -4.32%
    Target Corporation Common Stock79.50  chart -2.25%
    Time Warner Cable Inc Common St212.11  chart +0.63%
    Ulta Salon, Cosmetics & Fragran208.28  chart +0.62%
    Walgreens Boots Alliance, Inc.79.28  chart -1.33%
    Waste Connections, Inc. Common 67.28  chart +0.31%
    Whole Foods Market, Inc.29.08  chart -2.38%
    Waste Management, Inc. Common S58.79  chart +0.82%
    Wal-mart Stores, Inc. Common St66.87  chart -2.96%
    Woodward, Inc.54.21  chart -1.70%
    CURRENCY CONVERTER

    Latest Additions to SCVNews.com
    As we see the possibility of the Great Barrier Reef in Australia beginning to die off, a new reef, comprised mostly of algae, coral and sponges, has just been discovered at the mouth of the Amazon River.
    Coming, Going: Coral Reefs | Commentary by Dianne Erskine-Hellrigel
    Democratic and Republican candidates for the 25th Congressional District, 21st State Senate District and 38th Assembly District participated in candidate forums Saturday at the SCVTV Media Center in Newhall. The forums will be televised on SCVTV Wednesday, repeating several times during the weeks leading up to the June 7 primary election.
    SCVTV, KHTS, COC Cougar News Host Candidate Forums
    1999: "Spongebob SquarePants" pilot airs on Nickelodeon; created by '92 CalArts grad Stephen Hillenburg [timeline]
    Sport Chalet gift cards and store credits will continue to be honored in Sport Chalet stores through May 15, 2016. Customers who are unable to visit us before this date are invited to transfer gift card balances to a gift card from one of our sister stores, Eastern Mountain Sports or Bob's Stores through July 29, 2016.
    Sport Chalet Extends Close-out to May 15
    After the completion of the American Wine Specialist course via the North American Sommelier Association, local Santa Clarita Valley residents, Eve Bushman, Beth Greenwald and Danise Davis earned a "certification in first globally-recognized course on American Wine."
    Local Women Are Certified Experts in American Wine
    Attorney General Kamala D. Harris issued an information bulletin to California law enforcement agencies to reinforce integral eviction procedures under the California Homeowner Bill of Rights.
    Attorney General Informs Police Agencies of Renters’ Rights
    Watercolorist Pong Apinyavat will demonstrate at the June 20 meeting of the Santa Clarita Artists Association.
    June 20: Watercolorist to Demonstrate at SCAA Meeting
    The inmate who died in custody at the Pitchess Detention Center in Castaic Wednesday has been identified by Los Angeles County Coroner’s officials.
    Authorities Identify Inmate Found Dead at Castaic Jail
    1973 - Watergate figure H.R. "Bob" Haldeman, a former CalArts board member, resigns from Nixon White House [link]
    Tonight on SCV NewsBreak, Pitchess Detention Center inmates spent time with their children Friday. Plus, Hart District Culinary students competed in a Culinary Arts Throw Down.
    SCV NewsBreak for Friday, April 29, 2016
    Two men were arrested in Canyon Country after one was spotted by a bicyclist waving around a replica AR-15 rifle on a bike path Friday morning.
    Man Arrested for Waving Around Replica Rifle in Canyon Country
    I am pleased to report that my legislation to combat the prevalence of synthetic cannabinoids like “spice” and “K2” in communities across California passed the Senate Governance and Finance Committee earlier this month.
    Law to Regulate Synthetic Drugs Passes First Committee | Commentary by Sharon Runner
    California’s hard working students should be the number one priority of our public universities, but sadly that is not always the case.
    California Students First
    Urban search-and-rescue members from the Los Angeles County Fire Department (LACoFD) and Virginia Fairfax County Fire and Rescue Department have joined a response team deployed by the United States Agency for International Development (USAID) to support the Ecuadorian government after a 7.8 magnitude earthquake struck the country on April 16.
    LACoFD Joins Response Team in Ecuador in Light of Earthquake
    The first Alzheimer’s Association California Southland Chapter’s 2016 Walk to End Alzheimer’s Team Captain Meeting is scheduled for Wednesday, May 25, 2016 from 6:30 p.m. to 8:30 p.m.
    May 25: First Team Captain Meeting for Alzheimer’s Walk
    Legislative and district update from Sen. Sharon Runner for April 29, 2016.
    Around the 21st District with Sen. Sharon Runner
    Parents and teachers are welcome to "The Brain: Unlocking the Key to Your Child's Social, Behavioral and Academic Struggles" at College of the Canyons today in the Dianne G. Van Hook University Center at 7 pm.
    April 29: Lecture with Child Development Expert at COC
    Acting to ensure that public safety will be protected before storage activity can resume at the Aliso Canyon gas storage facility, the Assembly today approved urgency legislation authored by Senator Fran Pavley.
    Assembly OK’s Pavley-Wilk Aliso Canyon Safety Bill
    On May 12, 2016, 2,300 law enforcement personnel form across the nation will participate in the Police Unity Tour.
    May 12: Police Unity Tour to Raise Awareness for Fallen Peace Officers
    Henry Mayo Fitness and Health, a new, full service integrated fitness center, is pleased to announce the appointment of Sharlene Duzick as Member Services Director.
    Henry Mayo Fitness and Health Announces New Membership Director
    The 13th annual Summer Meltdown Autism Awareness Art & Music Festival takes over Central Park Saturday, and we have the winners of last week’s SCV Rock Beat random drawing for free tickets, courtesy the Yes I Can students who stage the show.
    SCV Rock Beat: Summer Meltdown, Ventura Blues, Delgados on House Blend
    The Santa Clarita Philharmonic, led by music director Jeffrey Gilbert, announces the third and final concert of the 2015-2016 season on Sunday, May 15 at 3p.m.
    May 15: Season’s Final Philharmonic to Feature Young, Local Talent
    Start sending in registrations and gearing up to join The Painted Turtle team for the annual bike ride and first annual "walk/run/roll" to benefit The Painted Turtle camp.
    October 15: Tour de Turtle, Turtle Trek Raising Funds to Bring Kids to Camp
    Crime Information and Public Safety Report for Valencia: Week of April 18th - April 24th
    Crime Blotter: Grand Theft, Petty Theft in Valencia
    Public Safety and Crime Information Report for Canyon Country (West): Week of April 18th- April 24th
    Crime Blotter: Residential Burglary, Commercial Burglary in Canyon Country West
    Crime Information and Public Safety Report for Castaic/ Val Verde: Week of April 18th - April 24th
    Crime Blotter: Theft in Castaic, Val Verde
    Crime Information Report and Public Safety Information for Stevenson Ranch for April 18th - April 24th
    Crime Blotter: Burglary, Grand Theft Auto in Stevenson Ranch
    Hillary remains impervious to her hypocrisy in receiving millions of dollars in speaking fees from the very entities and people she professes to despise.
    Talk is Cheap (Not) | Commentary by Betty Arenson
    2002 - LASD Deputy David March, Canyon grad & Saugus resident, murdered during traffic stop [story]
    The College of the Canyons men's golf team has been crowned champion of the Western State Conference (WSC) for a seventh consecutive year, after finishing the regular season with six straight tournament wins.
    COC Golf Wins WSC Title for 7th Straight Year
    The College of the Canyons swim team had its best showing at a Western State Conference (WSC) Finals event in program history last weekend, with the COC men's team finishing third and the women's team taking seventh while setting several new school records.
    COC Swim Posts Strong Times at WSC Finals
    The College of the Canyons track & field program hosted the Western State Conference (WSC) Prelims on Friday, with the Cougars men's and women's teams able to take advantage of the familiar surroundings.
    COC Track & Field Wins Three Titles & Qualifies in 23 Spots at WSC Prelims
    Some games are worth forgetting. Tuesday afternoon's game against Bethesda would be one of those for The Master's College.
    TMC Baseball Falls to Bethesda
    For the second consecutive year, The Master’s College golf team has been named conference champions after carding a collective score of 904 (300-302-302) at the 2016 Golden State Athletic Conference Championship on the greens of the Industry Hills Golf Club at Pacific Palms.
    Mustang Golf Cards Individual & Conference Titles at GSAC Championship
    With the installation of its new state-of-the-art ambulance simulator, the College of the Canyons emergency medical technician (EMT) program becomes the first program in the state — and one of only 16 in the nation — to incorporate this technologically advanced classroom-learning resource into its curriculum.
    College of the Canyons EMT Program Takes a Ride into the Future
    Students in third through 12th grade from Trinity Classical Academy’s Jazz Ensemble and Symphony Orchestra will join The Grace Baptist Praise Symphony Orchestra for a special concert.
    May 3: Trinity, Grace Baptist Unite for Special Concert