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

SCVNews.com | SCV Home Prices Climb in November | 12-18-2013
Santa Clarita CA
Today in
S.C.V. History
August 20
1967 - New Town of Valencia dedicated; homes sell for $25,000 [story]

homepriceshomesalesSanta Clarita Valley home prices continued their upward march in November, hitting pre-recessionary levels.

The typical previously owned SCV house changed hands for $445,000 in November, the second highest mark since the recession started in late 2008 and off just a tad from the $450,000 figure that was seen in August. That’s an improvement of 23.6 percent over November 2012′s median price of $360,000.

Meanwhile the typical SCV condominium traded for $295,000 in November – a price not seen since the pre-recession month of May 2008 when it cost an average of $305,000 to get into a pre-owned condo.

The November 2013 condo price represents a 5.4-percent improvement over the month and a whopping 49.7 percent increase over November 2012′s median of $197,000.

“The desirability of the community and the early effects of new home construction are giving sales a boost even at a time of year when activity typically wanes,” said Jim Link, CEO of the Southland Regional Association of Realtors.

The higher prices benefit sellers who are upside-down on their mortgages, said Bob Khalsa, president of the association’s SCV Division.

“With each price increase, more and more owners return to positive equity,” he said.

Link cautioned that the rapid price increases could be unsustainable.

“The same pressures that impact the rest of California are in play in the Santa Clarita Valley, so activity may yet level off in the coming months,” he said.

For now, more potential home sellers need to be enticed to enter the market. Only 531 homes and condos were listed for sale at month’s end on the association’s Multiple Listing Service. That’s a big improvement over last year’s paltry 332 listings, but it’s still only a 2-month supply of homes for sale. A 6-month supply is considered indicative of a healthy market.

A total of 171 single-family homes closed escrow in November, up 2.4 percent on the year, and 96 condos changed hands, up 23.1 percent. Both figures were down slightly from October 2013, which is normal for the season.

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.

Comments are closed.

NASDAQ4526.482  chart -0.02%
S&P 5001986.51  chart +0.25%
Bank Santa Clarit9.06  chart -1.20%
Biosolar, Inc.0.125  chart -45.65%
Cu Bancorp (ca)18.20  chart -0.55%
Enable Ipc Corp0.0034  chart +0.00%
Flextronics Inter10.88  chart +0.55%
Linn Energy, Llc31.24  chart +1.26%
Linn Co, Llc30.73  chart +0.62%
Mannkind Corporat7.19  chart -0.83%
Mission Vly Bcp C6.15  chart +0.00%
Quest Diagnostics62.54  chart +0.48%
Santa Clara Valle5.89  chart +0.17%
Tejon Ranch Co Co28.49  chart +0.46%
Us Energy Initiat0.003  chart -9.09%
Wesco Aircraft Ho18.53  chart +1.09%

Apple Inc.100.57  chart +0.04%
At&t Inc.34.53  chart +0.15%
Autonation, Inc. 54.48  chart -0.13%
Best Buy Co., Inc31.34  chart +1.92%
Big Lots, Inc. Co47.58  chart +0.23%
Barnes & Noble, I22.72  chart -1.56%
Brady Corporation26.38  chart -0.45%
Bre0.00  chartN/A
Bry0.00  chartN/A
Boston Scientific12.60  chart +0.08%
Brookfield Reside20.06  chart -0.40%
Cbre Group Inc Co31.90  chart +0.47%
Carnival Corporat37.74  chart +0.51%
Comcast Corporati54.64  chart +0.26%
Costco Wholesale 120.91  chart +0.25%
Curtiss-wright Co69.84  chart +0.24%
Cvs Caremark Corp79.61  chart +0.10%
Cemex, S.a.b. De 12.87  chart +0.23%
D.r. Horton, Inc.21.89  chart +0.32%
Walt Disney Compa89.84  chart -0.28%
Edison Internatio58.74  chart +0.55%
Hyatt Hotels Corp61.55  chart +0.67%
Home Depot, Inc. 90.75  chart +2.86%
Kb Home Common St17.80  chart +0.79%
Kroger Company (t50.53  chart +0.26%
Lennar Corporatio39.00  chart +0.52%
Laboratory Corpor106.15  chart +0.33%
Linn Energy, Llc31.24  chart +1.26%
Linn Co, Llc30.73  chart +0.62%
Lowe's Companies,52.33  chart +1.57%
Marriott Internat68.54  chart +0.60%
Mcdonald's Corpor94.19  chart -0.28%
Mitsubishi Ufj Fi5.71  chart -1.04%
Netflix, Inc.472.19  chart +0.86%
Office Depot, Inc5.18  chart -0.96%
Regal Entertainme20.90  chart +0.00%
Republic Services39.50  chart +0.61%
Radioshack Corpor0.6196  chart -1.01%
Starbucks Corpora78.03  chart -0.12%
Sears Holdings Co35.95  chart +1.27%
Six Flags Enterta38.03  chart +0.29%
Sonova Hldg N144.00  chart +0.63%
Staples, Inc.11.32  chart -2.58%
Supervalu Inc. Co9.66  chart -0.41%
Safeway Inc. Comm34.70  chart -0.09%
Target Corporatio60.33  chart +1.82%
Time Warner Cable148.00  chart +0.05%
Ulta Salon, Cosme97.49  chart +1.93%
Walgreen Co. Comm62.00  chart -0.24%
Waste Connections49.15  chart +0.18%
Whole Foods Marke38.19  chart -1.47%
Waste Management,46.68  chart +0.76%
Wal-mart Stores, 74.96  chart +0.11%
Woodward, Inc.52.61  chart -0.27%

Latest Additions to SCVNews.com
Ekata Training Center and Urban Retreat helps raise money for the SCV Sheriff’s Foundation’s Be Our Star program by hosting a fundraiser for Dancing with Our Stars.
Ekata Teams with Sheriff’s Foundation to Raise Money
The body of a man found with his throat slashed in a Valencia warehouse Aug. 14 was reportedly picked up by coroners Tuesday. As a result of the delay, detectives aren’t positive if they have a murder weapon, or something the dead man might have used to kill himself.
Investigators Await Autopsy in Valencia Warehouse Death
Detectives assigned to the Santa Clarita Valley Sheriff’s Station would like to speak to the people shown in this photo. These selfie's were uploaded to the cloud after electronics were stolen in a residential burglary
Burglary Victim Discovers Selfies in the Cloud
The Master's College women's soccer team and women's volleyball team have each landed in the NAIA Division 1 Top 25 Pre-Season Poll.
TMC Women Sports in Top 25
Santa Clarita resident Devon Black was awarded the Congressional Award Bronze Medal for her participation in The Congressional Award Program.
Trinity Grad Receives Congressional Award Bronze Medal
The scam is an old one: sell or rent an "awesome" property at a "low price," then make off with the cash (often times first and last month’s rent plus fees) as the victim discovers he or she has been left with a fake listing on a property that now doesn’t actually belong to them.
Deputies Warn Against Real Estate Scams
Some of the stuff I’m hearing from the residents of Val Verde is right out of an old-fashioned gangster movie. Folks watching folks at their homes. Other folks being followed and sometimes sitting at the driveway of a resident. Then there is the meeting of the VVCA that was held in Fillmore because they thought some folks were out to do something.
Gangster Tactics
1967 - New Town of Valencia dedicated; homes sell for $25,000 [story]
A Saugus High School senior was struck and killed Monday evening while jogging on Golden Valley Road.That plus more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Tuesday, August 19, 2014
California Highway Patrol officers are investigating a fatal crash that killed a 17-year-old female jogger on Golden Valley Road on Monday night, officials said.
Teen Jogger Killed in Crash
Arguments for and against the city of Santa Clarita’s controversial billboard measure are online, giving residents plenty of time to decide whether they want to remove dozens of billboards throughout the city in exchange for adding three electronic billboards along local freeways.
Billboard Ballot Arguments Available Online
The death was not a result of an on-site accident; it’s believed to have been caused by a medical issue unrelated to his work on the campus, officials said.
State Inspector Dies at Canyon High School
A Santa Clarita Valley teen was charged with one count of criminal threats for his alleged Instagram postings, a District Attorney’s Office spokesman said Tuesday.
Santa Clarita Teen Charged with Felony Criminal Threats
U.S. Rep. Howard “Buck” McKeon spent Tuesday morning in Santa Clarita to discuss a pair of legislative proposals related to the Angeles National Forest - one to memorialize the 1928 St. Francis Dam Disaster and the other to designate about 70,000 acres in the Castaic area as wilderness.
McKeon in Town to Talk Wilderness, Dam Disaster
Hobby Lobby, the Oklahoma-based craft store chain involved in a controversial Supreme Court decision, recently signed a lease on a Santa Clarita Valley property.
Hobby Lobby to Open Store in Bouquet Center
1879 - Newhall civic leader Charles Henry Kingsburry born in Missouri [story]
Now we are setting forth on an adventure of seeing a National Memorial and Monument established right here in our valley. We can be on the map for more than sites to film. We can make the national news without a filming tie to an event in Libya, or four California Highway Patrolmen being shot, or the last place James Dean had lunch, or a kid who posts stupid stuff on Instagram.
Dam, Wilderness
U.S. Rep. Howard "Buck" McKeon is planning to hold two meetings Tuesday in Santa Clarita, one for the proposed Castaic Wilderness and one for the St. Francis Dam National Memorial and National Monument.
McKeon to Discuss Dam and Wilderness Proposals
An apparent practical joke has landed yet another Santa Clarita teen in jail. That plus more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Monday, August 18, 2014
The event featured more than 40 wineries, vineyards and distributors with hundreds of wines for guests to sample.
Hundreds Attend Circle of Hope’s Vine 2 Wine Classic
THIS INCIDENT IS IN NO WAY RELATED TO THE ARREST MADE ON AUGUST 17, 2014 FOR THREATS MADE ON INSTAGRAM A 13-year-old Canyon High School student is in custody after sending anonymous texts to a friend that threatened school violence.
Another SCV Teen Arrested for Prank Violent Threats
“Accurate classification of crimes is not only important for crime reporting purposes but for making informed policy decisions and earning the public’s trust,” according to a statement by Antonovich. “The Sheriff’s Department provides general law enforcement services to all of the county’s unincorporated communities, as well as over 40 contract cities."
Inspector General to Review LASD Crime Classification
Golden Oak Adult School is now offering enrollment and a new class schedule for the Fall 2014 semester.
Golden Oak Adult School Announces Fall Classes
California State University, Northridge is seeing an increase in the number of women in math and science fields. At the 2014 College of Science and Mathematics commencement ceremony, the dean personally noted that 80 percent of degree recipients in the college’s honors program were female.
Women Dominate Science and Math at CSUN