[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
October 2
1945 - Cattle-rustling "Phantom of Vasquez Rocks" captured [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.

NASDAQ4422.085  chart -1.59%
S&P 5001946.16  chart -1.32%
Bank Santa Clarit9.00  chart +0.00%
Biosolar, Inc.0.215  chart -2.27%
Cu Bancorp (ca)18.74  chart -0.32%
Enable Ipc Corp0.004  chart +0.00%
Flextronics Inter10.00  chart -3.10%
Linn Energy, Llc29.58  chart -1.86%
Linn Co, Llc28.79  chart -0.55%
Mannkind Corporat5.73  chart -3.05%
Mission Vly Bcp C6.00  chart +0.00%
Quest Diagnostics60.32  chart -0.59%
Santa Clara Valle5.91  chart +0.00%
Tejon Ranch Co Co28.24  chart +0.71%
Us Energy Initiat0.0019  chart +5.56%
Wesco Aircraft Ho16.76  chart -3.68%

Apple Inc.99.18  chart -1.56%
At&t Inc.34.96  chart -0.79%
Autonation, Inc. 49.10  chart -2.41%
Best Buy Co., Inc32.62  chart -2.89%
Big Lots, Inc. Co42.75  chart -0.70%
Barnes & Noble, I19.27  chart -2.38%
Brady Corporation22.25  chart -0.85%
Bre0.00  chartN/A
Bry0.00  chartN/A
Boston Scientific11.80  chart -0.08%
Brookfield Reside18.82  chart -0.37%
Cbre Group Inc Co29.18  chart -1.88%
Carnival Corporat39.14  chart -2.56%
Comcast Corporati52.93  chart -1.58%
Costco Wholesale 124.76  chart -0.45%
Curtiss-wright Co64.50  chart -1.96%
Cvs Health Corpor79.14  chart -0.57%
Cemex, S.a.b. De 12.73  chart -2.38%
D.r. Horton, Inc.20.32  chart -0.97%
Walt Disney Compa87.49  chart -1.73%
Edison Internatio56.68  chart +1.36%
Hyatt Hotels Corp58.55  chart -3.26%
Home Depot, Inc. 91.02  chart -0.78%
Kb Home Common St14.80  chart -0.94%
Kroger Company (t51.60  chart -0.77%
Lennar Corporatio38.55  chart -0.72%
Laboratory Corpor101.18  chart -0.56%
Linn Energy, Llc29.58  chart -1.86%
Linn Co, Llc28.79  chart -0.55%
Lowe's Companies,52.60  chart -0.60%
Marriott Internat67.94  chart -2.80%
Mcdonald's Corpor94.19  chart -0.65%
Mitsubishi Ufj Fi5.56  chart -0.89%
Netflix, Inc.438.80  chart -2.74%
Office Depot, Inc5.01  chart -2.53%
Regal Entertainme19.52  chart -1.81%
Republic Services37.89  chart -2.90%
Radioshack Corpor0.9745  chart -1.57%
Starbucks Corpora74.61  chart -1.13%
Sears Holdings Co25.18  chart -0.20%
Six Flags Enterta34.02  chart -1.08%
Sonova Hldg N149.60  chart +0.81%
Staples, Inc.11.86  chart -1.98%
Supervalu Inc. Co8.64  chart -3.36%
Safeway Inc. Comm34.18  chart -0.35%
Target Corporatio62.07  chart -0.97%
Time Warner Cable141.90  chart -1.11%
Ulta Salon, Cosme115.83  chart -1.98%
Walgreen Co. Comm59.04  chart -0.39%
Waste Connections47.63  chart -1.83%
Whole Foods Marke37.85  chart -0.68%
Waste Management,47.15  chart -0.80%
Wal-mart Stores, 76.12  chart -0.46%
Woodward, Inc.46.55  chart -2.25%

Latest Additions to SCVNews.com
1945 - Cattle-rustling "Phantom of Vasquez Rocks" captured [story]
“Walking meditation” with Deb Clem is a new and welcomed program at Placerita, but there was an ocean of incomprehension when it was first introduced.
Walking Meditation | Commentary by Evelyne Vandersande
For those of you who haven’t heard - or heard about - the Santa Clarita Master Chorale, I’ll just say you’re in for some great musical experiences when you hear how and what we sing.
Singing for Supper | Commentary by Darryl Manzer
Our annual budget goals focus on on improving aging infrastructure, increasing our operating reserves, and taking a futuristic approach to planning.
Message from the City Manager | Ken Striplin
Tonight on SCV NewsBreak: CBS has been ordered to pay more than $10 million in the wrongful death of a Reseda man who was killed while working on a popular television series produced in Santa Clarita.
SCV NewsBreak for Monday, October 1, 2014
Deputies Sean Robert Caples and Patrick James Ince have been selected to receive Valor Awards on Thursday for their acts of heroism.
SCV Deputies Caples, Ince to be Awarded for Heroism
31st Annual Golf Tournament to benefit Circle of Hope.
Oct. 20: Circle of Hope Golf Tournament
The County of Los Angeles Department of Parks and Recreation in cooperation with the Santa Clarita Valley Rose Society, is presenting its 21st Annual Wild West Roses Rose Show & 3rd Annual Rose Art Exhibition.
Call for Entries: Rose Show Art Exhibit at Hart Park
One sock two sock, red sock blue sock. It doesn’t matter the color, Family Promise SCV wants your donation of new socks.
Homeless Services Group Collecting Socks for ‘Socktober’
Following the discovery of a deceased newborn baby at a recycling facility in Hesperia earlier today, Los Angeles County Supervisor Don Knabe is reminding the public about the County’s Safe Surrender program.
Dead Baby Found in Trash Prompts Reminder of ‘Safe Surrender’
Sulphur Springs School District officials are continuing to gather voter input on possible electoral districts as part of their settlement of a California Voting Rights Act lawsuit.
Oct. 15: Next Public Input Meeting on Sulphur Springs Electoral Districts
The HDC environmental and technical studies will consider the importance of improved access and connectivity to regional transportation facilities, including airports, existing passenger rail and future high speed rail systems, officials say.
Caltrans, Metro Release Impact Reports on High Desert Corridor Plan
CBS has been ordered to pay $10.45 million in the wrongful death of a Reseda man who was killed while working on “NCIS” in Santa Clarita.
CBS Ordered to Pay $10.45 Mil. in SCV Wrongful Death Case
Join Red Rock Canyon State Park staff and volunteers on Saturday October 4th at 9 a.m. for a campground beautification day at Red Rock State Park, then hop over to the Antelope Valley Indian Museum for the annual American Indian Celebration.
State Parks Events in Oct.: Red Rock, AV Indian Museum, more
Pedestrian injuries are the fifth leading cause of injury-related death in the United States for children ages 5 to 19. Whether your child is walking to school, to a friend’s house, or the park, here are a few simple tips to make sure they arrive at their destination safely.
Tips for Pedestrians, Child Safety
Stevenson Ranch & Westridge, Zone 3 Public Safety and Crime Prevention Info Snapshot 09/22/2014 to 09/28/2014 Santa Clarita Valley Sheriff’s Station Crime Prevention Unit
Crime Blotter: Stevenson Ranch-Westridge
Turns out, the endangered Delta smelt isn't to blame for our water shortage this year. Instead it's the smelt's much bigger brother, the salmon.
Shower with a Friend
Funding top-notch law enforcement service, investing in our infrastructure, protecting our beautiful open spaces, adding state-of-the-art amenities such as parks, bike paths, community centers, libraries, transit and trails all contribute to this wonderful place we love to call home.
Message from the Mayor
1842 - New York Observer (newspaper) reports on Placerita gold discovery [story]
Tonight on SCV NewsBreak: Gov. Jerry Brown signed a statewide plastic bag ban into law on Tuesday. Plus, Santa Clarita city officials are beginning the process for looking into a potential library in Saugus. More on those stories and other local news.
SCV NewsBreak for Tuesday, September 30, 2014
Patrol deputies assigned to four L.A. County Sheriff stations - Lancaster, Temple, Century and Carson - will be testing a wearable camera system as part of a pilot program that could lead to as department-wide rollout.
Lancaster Deputies to Test Body Cams; Potential for Countywide Rollout
The ducks have landed and appear to be ready for the 12th Annual Rubber Ducky Regatta on Saturday at Bridgeport Park in Valencia.
Annual Sam Dixon Duckfest Coming Saturday
Three Los Angeles County-sponsored bills that aim to crack down on the demand-side of the illicit child sex trafficking industry were signed into law by California Governor Jerry Brown over the weekend.
New Laws Authorize Wiretaps for Human Traffickers, more
Upcoming training sessions for local entrepreneurs, from the Small Business Development Center at College of the Canyons.
SBDC: How to Use LinkedIn for Business Development; more