[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
Inside
Weather
Santa Clarita CA
Sunny
Sunny
84°F
 
Calendar
Today in
S.C.V. History
February 9
1971, 6:01 a.m. - Sylmar/San Fernando Earthquake centered in Iron Canyon/Sand Canyon [WATCH FILM]


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.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
NASDAQ4268.76  chart -0.35%
S&P 5001852.21  chart -0.07%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita10.05  chart +0.00%
Biosolar, Inc.0.095  chart +0.00%
Sierra Bancorp16.98  chart -1.05%
Cu Bancorp (ca)22.61  chart +2.82%
Enable Ipc Corp0.0022  chart +100.00%
Flextronics International Ltd.9.94  chart +1.12%
Linn Energy, Llc0.3861  chart +18.29%
Linn Co, Llc0.221  chart +9.95%
Mannkind Corporation0.97  chart +11.49%
Mission Vly Bcp Ca8.30  chart +0.00%
Quest Diagnostics Incorporated 60.55  chart +0.02%
Tejon Ranch Co Common Stock18.10  chart -3.57%
Us Energy Initiative0.0004  chart +33.33%
Wesco Aircraft Holdings, Inc. C11.17  chart +4.69%

Apple Inc.94.99  chart -0.02%
At&t Inc.36.65  chart -1.24%
Autonation, Inc. Common Stock46.44  chart +3.87%
Best Buy Co., Inc. Common Stock27.92  chart -2.45%
Big Lots, Inc. Common Stock36.34  chart -2.15%
Barnes & Noble, Inc. Common Sto8.09  chart -2.53%
Brady Corporation Common Stock21.39  chart -1.70%
Boston Scientific Corporation C16.87  chart +4.98%
N/a24  chart +0.00%
Cbre Group Inc Common Stock Cla23.32  chart -0.17%
Carnival Corporation Common Sto42.97  chart +2.50%
Comcast Corporation58.21  chart -2.00%
Costco Wholesale Corporation147.94  chart +0.63%
Curtiss-wright Corporation Comm64.85  chart -0.54%
Cvs Health Corporation Common S90.51  chart +0.96%
Cemex, S.a.b. De C.v. Sponsored4.43  chart -3.28%
D.r. Horton, Inc. Common Stock24.04  chart +2.39%
Walt Disney Company (the) Commo92.32  chart +0.22%
Edison International Common Sto63.40  chart +0.79%
Hyatt Hotels Corporation Class 39.45  chart +0.31%
Home Depot, Inc. (the) Common S113.86  chart +1.80%
Kb Home Common Stock9.76  chart -2.59%
Kroger Company (the) Common Sto36.73  chart -0.24%
Lennar Corporation Class A Comm38.42  chart -0.05%
Laboratory Corporation Of Ameri102.53  chart +1.58%
Linn Energy, Llc0.3861  chart +18.29%
Linn Co, Llc0.221  chart +9.95%
Lowe's Companies, Inc. Common S64.15  chart +0.94%
Marriott International60.77  chart +2.24%
Mcdonald's Corporation Common S117.01  chart +0.83%
Mitsubishi Ufj Financial Group,4.18  chart -5.43%
Netflix, Inc.86.13  chart +3.37%
Office Depot, Inc.4.915  chart -0.71%
Rite Aid Corporation Common Sto7.76  chart +0.13%
Rexford Industrial Realty, Inc.16.28  chart -1.09%
Regal Entertainment Group Class18.07  chart +1.86%
Ross Stores, Inc.54.53  chart +2.25%
Republic Services, Inc. Common 43.84  chart +0.97%
N/aN/A  chartN/A
Starbucks Corporation54.42  chart +0.52%
Smart & Final Stores, Inc. Comm15.24  chart -0.52%
Sears Holdings Corporation15.25  chart -8.85%
Six Flags Entertainment Corpora47.75  chart +0.34%
Sonova Hldg N113.40  chart -2.49%
Staples, Inc.8.40  chart -1.87%
Sunpower Corporation22.96  chart -1.88%
Target Corporation Common Stock69.86  chart -0.20%
Time Warner Cable Inc Common St180.59  chart +1.61%
Ulta Salon, Cosmetics & Fragran151.98  chart -2.16%
Walgreens Boots Alliance, Inc.74.93  chart +2.77%
Waste Connections, Inc. Common 57.48  chart +0.68%
Whole Foods Market, Inc.29.06  chart -1.09%
Waste Management, Inc. Common S53.28  chart +1.10%
Wal-mart Stores, Inc. Common St65.81  chart -1.63%
Woodward, Inc.43.79  chart -1.37%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
Signaling a commitment to tackling the problem of homelessness across jurisdictional lines, the County and City of Los Angeles adopted comprehensive action plans Tuesday to help the thousands of people living without shelter in our communities.
Supervisors OK Comprehensive Homeless Plan
Fourteen schools’ applications from the Saugus Union School District were approved in the Gold Ribbon Schools’ Recognition Program by the California Department of Education.
14 Saugus District Schools Approved for State Gold Ribbon
One in three adolescents in the U.S. is a victim of physical, sexual, emotional or verbal abuse from a dating partner, a figure that far exceeds rates of other types of youth violence. See what the Domestic Violence Center of SCV is doing to combat teen dating violence.
DVC: Feb. is Teen Dating Violence Awareness Month
After a multi-agency, collaborative effort and numerous tips from the public, alleged murder suspect Steven Lawrence Wright was taken into custody at a hotel in Boulder City, Nevada.
Wrongly Freed Murder Suspect Back in Custody; No Add’l Charges
Bank of Santa Clarita today announced record earnings for 2015, as it earned $1.22 million, representing an increase of 19 percent over 2014 earnings.
Bank of Santa Clarita Posts Record Earnings, Deposit Growth
University chancellor's office says the announced strike "should not interfere with students being able to complete their semester and quarter courses and graduate on time."
CSU Campuses Girding for Possible Faculty Strike
U.S. Rep. Steve Knight, R-Palmdale, introduced legislation Monday that would allow the Federal Aviation Administration to continue and expand upon its research, engineering, and development programs through 2019.
Knight Bill Would Advance Drone Development, Strengthen Cyber Defenses, more
Kenai Princess Wilderness Lodge, a Princess Cruises Land & Sea Vacation destination, has been named one of the top-12 resorts in Alaska and the Pacific Northwest for 2015 by Condé Nast Traveler.
Princess Cruises Wilderness Lodge Named Top Resort by Condé Nast Traveler Magazine
"Every 15 Minutes" is a powerful event designed to dramatically instill teenagers with the potentially dangerous consequences of drinking alcohol, reckless driving and life choices. It also challenges students to think about the severe dangers associated with speed contests and texting while driving.
‘Every 15 Minutes’ Coming to Valencia High Wed.-Thurs.
The Newhall Refinery will host the folk, pop and country-blended stylings of the Women on the Move Trio Thursday, Feb. 11, 2016 from 7 p.m. to 9:30 p.m. for free.
Thursdays at Newhall to Feature Women on the Move Trio
Organizers for the Los Angeles SummerFEST are announcing an open call for musicians and bands for its 2016 season.
LA SummerFEST 2016 Announces Open Call for Musicians
The 5th Annual Bunco for Hope event will be held Saturday, Feb. 20, 2016 from 10:30 a.m. to 4 p.m. at the Santa Clarita Activities Center to raise money and awareness for the cancer support non-profit Circle of Hope, Inc.
5th Annual Bunco for Hope for Cancer Patients
The civil rights group California Reform Sex Offender Laws filed a lawsuit in U.S. District Court in San Francisco, challenging the constitutionality of certain provisions of the International Megan's Law to Prevent Demand for Child Sex Trafficking.
Calif. Sex Offender Rights Group Fights New Passport Law
Echoing its recent message to the U.N. climate talks in Paris – that California’s economic growth and strong climate policy are not mutually exclusive – two Senate committees met jointly last week to explore how California can continue its leadership in building a clean energy economy.
Pavley: Hearings Highlight Vitality of Clean Energy Economy
Public Safety and Crime Prevention Report for Saugus.
Blotter: SUV, Rims, Wallet, Bike Stolen in Saugus
I’ve been on such trains in Europe. After the fast ride, I couldn’t figure out why I had spent so much money to watch France speed by my window at 200 mph. Had to rent a car and see what I went to see. Haven’t been on one since then.
High-Speed Rationale
1971, 6:01 a.m. - Sylmar/San Fernando Earthquake centered in Iron Canyon/Sand Canyon [WATCH FILM]
Tonight on SCV NewsBreak, deputies respond to an attempted home break in. Plus, ad advocate for the End of Life option Act died Saturday after battling cancer.
SCV NewsBreak for Monday, February 8, 2016
A local chapter of the historical society Sons of the American Revolution will hold its annual "Massing of the Colors" event Sunday, Feb. 14, marking the 34th anniversary of this special educational event honoring George Washington and saluting U.S. Armed Forces.
Feb. 14: Armed Forces Honored at Forest Lawn for Washington’s Birthday
Local attorneys in the Santa Clarita and San Fernando Valleys will be present at SBDC's "Legal Day" to provide legal information and meet personally with small business owners.
COC to Host Free Legal Workshop for Small Businesses
Texas-based Waste Connections Inc., operator of 44 landfills including Chiquita Canyon in the Santa Clarita Valley, reported first-quarter adjusted earnings Monday of 49 cents per share, beating Wall Street expectations of 47 cents. For the full year ending Dec. 31, the company posted a loss of $95.8 million, or 78 cents per share
Chiquita Landfill Owner to Merge; Posts 1Q Gain, Full-Year Loss
A celebration of life for Frank Kleeman will be held Thursday, Feb. 11, at 5 p.m. at the Child & Family Center.
Service for Frank Kleeman Set for Thursday
Christy O’Donnell, an advocate for the End of Life Option Act, died after a years-long battle with cancer on Feb. 6, her sister confirmed in a Facebook post Monday.
Aid-in-Dying Activist Loses Battle with Cancer
Santa Clarita Valley Sheriff’s Station deputies are responding to a report of a person armed with a knife who allegedly attempted to break into a home in the Newhall area and slashed a vehicle’s tires. The incident was reported near Lyons Avenue and Wiley Canyon Road at 4:11 p.m., said Sgt. Brian Allen.
Three Suspects in Custody After Attempted Newhall Break In
Canyon High School will host the 11th Annual Santa Clarita Valley Track & Field Invitational Saturday, March 5, 2016.
2016 SCV Track and Field Invitational Seeking Local Business Support
A therapeutic riding ranch in Agua Dulce that helps kids and young adults overcome their disabilities intends to raise $50,000 in the next 21 days through its annual "Carousel Wishes and Valentines Kisses" campaign.
Carousel Ranch Aims to Raise 50K in 21 Days
CEO Mark E. Ellis will receive up to $6.9 million this year in cash bonuses and other executives will receive millions if they stay through the coming restructuring of their oil company - LINN Energy, the Houston-based owner of the company that operates the Placerita Oil Field.
Millions in Store for Oil Company Execs If They Stay
USMC Col. Jay R. Vargas (ret.), who received the Medal of Honor in 1970 from President Richard Nixon for his bravery in battle in Vietnam in 1968 will speak Thursday at 10:30 a.m. at Golden Valley High School.
Medal of Honor Recipient to Speak at Golden Valley High
This week's events and activities from the Santa Clarita Valley Chamber of Commerce.
SCV Chamber This Week (2-8-2016)
The SCV Education Foundation announces the hiring of Jackie Hartmann as the Foundation’s executive director.
SCV Education Fdn. Has a New Executive Director