[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
September 14
1924 - Deputy Ed Brown killed in shootout with Gus Le Brun [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.

NASDAQ4567.599  chart -0.53%
S&P 5001985.54  chart -0.60%
Bank Santa Clarit9.30  chart +0.00%
Biosolar, Inc.0.21  chart +5.00%
Cu Bancorp (ca)18.93  chart -0.11%
Enable Ipc Corp0.0032  chart +0.00%
Flextronics Inter11.02  chart -0.45%
Linn Energy, Llc30.64  chart -1.48%
Linn Co, Llc30.01  chart -0.76%
Mannkind Corporat6.68  chart -1.91%
Mission Vly Bcp C6.00  chart +0.00%
Quest Diagnostics62.62  chart -0.68%
Santa Clara Valle5.89  chart +0.00%
Tejon Ranch Co Co28.05  chart -1.44%
Us Energy Initiat0.0021  chart -4.55%
Wesco Aircraft Ho17.57  chart -0.73%

Apple Inc.101.66  chart +0.23%
At&t Inc.34.50  chart -1.00%
Autonation, Inc. 52.36  chart -1.13%
Best Buy Co., Inc33.62  chart +3.45%
Big Lots, Inc. Co47.13  chart +1.14%
Barnes & Noble, I23.44  chart -1.68%
Brady Corporation24.42  chart -2.28%
Bre0.00  chartN/A
Bry0.00  chartN/A
Boston Scientific12.50  chart -0.32%
Brookfield Reside20.21  chart -1.22%
Cbre Group Inc Co30.04  chart -1.93%
Carnival Corporat39.18  chart -0.25%
Comcast Corporati57.08  chart +0.18%
Costco Wholesale 125.37  chart -0.45%
Curtiss-wright Co71.02  chart -1.17%
Cvs Health Corpor80.57  chart -0.64%
Cemex, S.a.b. De 13.29  chart -0.30%
D.r. Horton, Inc.21.46  chart -2.23%
Walt Disney Compa89.67  chart -0.33%
Edison Internatio56.88  chart -1.93%
Hyatt Hotels Corp60.79  chart -1.52%
Home Depot, Inc. 88.84  chart -0.43%
Kb Home Common St16.91  chart -2.20%
Kroger Company (t51.83  chart -0.65%
Lennar Corporatio39.06  chart -1.39%
Laboratory Corpor106.35  chart -0.86%
Linn Energy, Llc30.64  chart -1.48%
Linn Co, Llc30.01  chart -0.76%
Lowe's Companies,52.97  chart -0.21%
Marriott Internat70.62  chart -1.09%
Mcdonald's Corpor93.34  chart +0.41%
Mitsubishi Ufj Fi5.80  chart +0.17%
Netflix, Inc.476.55  chart -1.04%
Office Depot, Inc5.90  chart +4.80%
Regal Entertainme20.42  chart -0.34%
Republic Services39.15  chart -0.08%
Radioshack Corpor0.91  chart -10.78%
Starbucks Corpora75.47  chart -0.85%
Sears Holdings Co34.27  chart -1.13%
Six Flags Enterta35.53  chart +0.11%
Sonova Hldg N146.80  chart -1.41%
Staples, Inc.12.945  chart +3.48%
Supervalu Inc. Co9.40  chart -2.69%
Safeway Inc. Comm34.50  chart -0.23%
Target Corporatio62.53  chart -0.10%
Time Warner Cable154.31  chart +0.05%
Ulta Salon, Cosme114.89  chart +17.86%
Walgreen Co. Comm62.82  chart -0.98%
Waste Connections49.85  chart -0.16%
Whole Foods Marke38.095  chart -1.08%
Waste Management,46.80  chart -0.85%
Wal-mart Stores, 75.77  chart -0.43%
Woodward, Inc.50.98  chart -1.34%

Latest Additions to SCVNews.com
It would be a good thing if people looked back to their roots a bit, to find out what edible plants live in the open spaces. People should learn what an Egyptian well is, and how to make one, and how to make a debris shelter. These simple things could save your family.
Could You Survive?
1924 - Deputy Ed Brown killed in shootout with Gus Le Brun [story]
In the last year, the City of Santa Clarita has seen a steady increase in retail sales as new businesses open. Sales tax numbers for the first quarter 2014 were up by 3.6 percent when compared to first quarter 2013.
City’s Growth Reflected in Retail Sales Numbers
The construction site where Castaic High School is being built was vandalized Friday night. A vehicle was reportedly used to knock down several access gates that surround the property
Vandals Damage Fencing at Castaic High School Construction Site
Jake Gnasso, April Townsend and Ian Bulbenko, of Burbank, all 19, were identified as the victims of a crash that also injured two at Rowher Flats when a truck went down a 200-foot embankment off of the Rush Canyon Truck Trail.
Victims of Crash at Rowher Flats Were 19, from Burbank
Guitarist, songwriter, singer and Rock ’n’ Roll Hall of Fame member Dave Mason of British rock group Traffic and solo renown drives his acclaimed “Traffic Jam” tour into the Santa Clarita Valley Thursday night, Sept. 18, for his first appearance at the Santa Clarita Performing Arts Center.
Rock Legend Dave Mason Drives ‘Traffic Jam’ to Santa Clarita Thursday
Together we can bring a long deserved National Memorial to the St. Francis Dam site. Please help us as soon as possible. We have only a few days to get this done in the current congressional session.
Honor the Victims, Support the Memorial
Lauren Parker is the next generation to carry the torch of our history forward. I was worried there wasn’t anyone to do that.
Extraordinary Citizen: Lauren Parker
1928 - Caterer Eugene Burke, bank co-founder and local philanthropist, born in Amarillo, Texas [story]
Gene Burke
September, in general, is a month that often focuses me on compassion not only because of 9/11, but also because children head back to school and I’m reminded of the value of teaching children compassion and kindness to reduce bullying and to improve understanding and cooperation at school.
My Guiding Word
Tonight on SCV NewsBreak: Three people were killed and two more were hospitalized after a truck crashed in the Rowher Flats area north of Santa Clarita. Plus more local news.
SCV NewsBreak for Friday, September 12, 2014
The Ridge Route Communities Museum will offer a drive-your-own-vehicle tour of the San Andreas Earthquake Fault from the Cuddy Valley area of Frazier Mountain to Gorman on Saturday, Sept. 27.
Sept. 27: Explore San Andreas Fault with a Geologist
Three people were killed and two others were injured Friday morning when a truck went down a 200-foot embankment in the Rowher Flats OHV Park area off of Sierra Highway, north of Davenport Road.
3 Killed, 2 Injured in Crash at Rowher Flats
When the victims arrived home from church, the female victim entered the residence, and the male victim went out a side door to retrieve his garbage barrels. Once outside, the male victim was confronted by two suspects. The suspect ordered the male victim to return back into his home, and the suspects detained the male and female victims while ransacking their home.
After Church, Valencia Couple Comes Detained by Robbers
Longtime Newhall School District Superintendent Marc Winger announced Friday his plan to retire in February.
Winger, Chief of Newhall School District, to Retire in Feb.
A Castaic Middle School teacher is receiving a lesson in paying it forward while recovering from a kidney transplant, grateful for the support of family members and his “second family.”
Video Instructor Getting Help from His Castaic School Family
A 30-year-old man was charged Friday with beating his German Shepherd, Kaiser, with a metal chain leash, the Los Angeles County District Attorney’s Office announced.
Castaic Dog Beating: Man Charged with Animal Cruelty
The United States is at war with the terror group ISIL, “in the same way we're at war and continue to be at war with al-Qaida and its affiliates,” Pentagon press secretary Navy Rear Adm. John Kirby said Friday.
Pentagon: U.S. ‘At War’ with ISIL
So I’m driving along Lyons Avenue and I see Green Landscape Nursery where the old Wilcox Nursery used to be. The answer to our traffic circle art has been found. It could be well within the proposed budget for the circle.
Ready-made Roundabout Art?
1952 - Henry Mayo Newhall Auditorium opens at Hart High [story]
Tonight on SCV NewsBreak: Students at Trinity Classical Academy in Valencia honored nearly 3,000 victims who died in the 9/11 terrorist attacks Thursday morning. Plus more local news.
SCV NewsBreak for Thursday, September 11, 2014
The bill requires employers to provide paid sick leave to employees who work 30 or more days within a year from commencement of employment, and employees will earn a minimum of one hour of paid sick leave for every 30 hours worked.
Governor Signs Bill Expanding Paid Sick Leave
You have rights whether you’re enrolled in Original Medicare – in which you can choose any doctor or hospital that accepts Medicare – or Medicare Advantage, in which you get care within a network of health care providers.
Know Your Medicare Rights | Commentary by David Sayen
In an effort to increase access to educational opportunities, College of the Canyons will address the growing demands for class sections by offering students a wide array of late-start classes during the fall 2014 semester.
COC Adds Late-Start Classes to Accommodate Students