[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
May 28
1888 - Olympian Jim Thorpe, "America's greatest athlete," born in Indian Territory (probably near Prague, Okla.); later in life, appeared in many B-Westerns shot in Placerita Canyon [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.

NASDAQ5106.59  chart +1.47%
S&P 5002123.48  chart +0.92%
Bank Santa Clarita9.60  chart +0.00%
Biosolar, Inc.0.07  chart +0.00%
Sierra Bancorp16.99  chart +0.83%
Cu Bancorp (ca)21.38  chart +0.90%
Enable Ipc Corp0.0026  chart +0.00%
Flextronics International Ltd.12.22  chart +0.66%
Linn Energy, Llc11.00  chart -2.22%
Linn Co, Llc10.82  chart -2.17%
Mannkind Corporation5.27  chart +9.34%
Mission Vly Bcp Ca7.25  chart +0.00%
Quest Diagnostics Incorporated 77.16  chart -0.28%
Tejon Ranch Co Common Stock25.20  chart +1.16%
Us Energy Initiative0.0006  chart -14.29%
Wesco Aircraft Holdings, Inc. C14.73  chart +0.61%

Apple Inc.132.045  chart +1.87%
At&t Inc.34.95  chart +0.81%
Autonation, Inc. Common Stock63.28  chart +3.13%
Best Buy Co., Inc. Common Stock34.36  chart +1.36%
Big Lots, Inc. Common Stock45.30  chart -1.44%
Barnes & Noble, Inc. Common Sto23.40  chart +1.04%
Brady Corporation Common Stock25.43  chart -0.97%
Boston Scientific Corporation C17.99  chart +1.24%
N/aN/A  chartN/A
Cbre Group Inc Common Stock Cla38.61  chart +0.65%
Carnival Corporation Common Sto47.59  chart +1.36%
Comcast Corporation59.34  chart +1.28%
Costco Wholesale Corporation145.42  chart +1.51%
Curtiss-wright Corporation Comm72.02  chart +0.78%
Cvs Health Corporation Common S103.48  chart +0.61%
Cemex, S.a.b. De C.v. Sponsored9.88  chart +2.60%
D.r. Horton, Inc. Common Stock26.37  chart +0.38%
Walt Disney Company (the) Commo110.37  chart +0.85%
Edison International Common Sto60.78  chart +0.53%
Hyatt Hotels Corporation Class 58.31  chart +0.86%
Home Depot, Inc. (the) Common S112.16  chart +1.11%
Kb Home Common Stock14.85  chart +0.20%
Kroger Company (the) Common Sto74.19  chart -0.05%
Lennar Corporation Class A Comm47.18  chart -0.46%
Laboratory Corporation Of Ameri119.45  chart -0.31%
Linn Energy, Llc11.00  chart -2.22%
Linn Co, Llc10.82  chart -2.17%
Lowe's Companies, Inc. Common S70.72  chart +1.64%
Marriott International - Class 79.20  chart +0.62%
Mcdonald's Corporation Common S97.81  chart +0.20%
Mitsubishi Ufj Financial Group,7.31  chart +0.14%
Netflix, Inc.629.00  chart +2.12%
Office Depot, Inc.9.26  chart +0.54%
Rexford Industrial Realty, Inc.14.76  chart +0.48%
Regal Entertainment Group Class21.70  chart +1.26%
Republic Services, Inc. Common 40.08  chart +0.50%
Radioshack Corp.N/A  chartN/A
Starbucks Corporation51.59  chart +1.48%
Smart & Final Stores, Inc. Comm16.92  chart -0.29%
Sears Holdings Corporation43.73  chart +0.67%
Six Flags Entertainment Corpora49.16  chart +1.51%
Sonova Hldg N141.50  chart +0.57%
Staples, Inc.16.22  chart +0.43%
Sunpower Corporation31.44  chart -0.82%
Supervalu Inc. Common Stock8.89  chart +0.68%
Safeway Inc.N/A  chartN/A
Target Corporation Common Stock80.30  chart +1.54%
Time Warner Cable Inc Common St183.57  chart -0.02%
Ulta Salon, Cosmetics & Fragran154.78  chart +3.08%
Waste Connections, Inc. Common 48.16  chart +1.18%
Whole Foods Market, Inc.42.725  chart +0.65%
Waste Management, Inc. Common S49.84  chart +0.54%
Wal-mart Stores, Inc. Common St75.19  chart +0.39%
Woodward, Inc.52.41  chart +0.52%

Latest Additions to SCVNews.com
The creosote bush is the most drought-tolerant plant in North America - and scientists have confirmed it possesses analgesic, antiseptic, antiviral and antibiotic properties. Extracts of creosote have even been found to kill some types of cancer cells.
The Useful Creosote Bush | Commentary by Linda Castro
1888 - Olympian Jim Thorpe, "America's greatest athlete," born in Indian Territory (probably near Prague, Okla.); later in life, appeared in many B-Westerns shot in Placerita Canyon [story]
Two suspects have been arrested in connection with the death of Leslie Long, a 20-year-old Palmdale resident whose body was found Dec. 8, 1978, at the base of a small hill off the 14 Freeway at Soledad Canyon Road in Acton, three days after she went missing.
2 Arrests Made in 37-Year-Old Acton Murder Case
Tonight on SCV NewsBreak, A cold case 37 years in the making has finally been solved. Plus, see how Castaic Middle School is preparing young minds for the world of employment. Click the link to see those stories and more on tonight’s edition of SCV NewsBreak.
SCV NewsBreak for Wednesday, May 27, 2015
A Hart High School theater arts teacher, who is also an actor, will be starring in an upcoming play at the Odyssey Theatre in Los Angeles.
Hart Teacher to Star in The Odyssey
Deputies conducted surveillance and arrested two suspects in a credit card information theft case, according to Santa Clarita Valley Sheriff’s Station officials.
Detectives Crack Credit Card Fraud Case
The District Attorney’s Office filed assault charges against a Newhall man arrested on a separate murder charge over the weekend, officials said.
Murder Suspect Arrested on Separate Assault Charges
Assemblyman Scott Wilk’s, R-Santa Clarita, bill to ensure school bond responsibility recently passed Assembly floor.
Wilk Bill Passes Assembly and Will Ensure School Bond Responsibility
Kelly Behle was recently named the Santa Clarita Public Library City Librarian, replacing Ed Kieczykowski who retired in May. Behle brings eight years of experience as a librarian to the Santa Clarita Public Library.
Santa Clarita Has a New Librarian
Charter Communications Inc. and Time Warner Cable Inc. announced that they have entered into a definitive agreement for Charter to merge with Time Warner Cable. The deal values Time Warner Cable at $78.7 billion. Charter will provide $100.00 in cash and shares of a new public parent company ("New Charter") equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding.
Charter to Buy Time Warner Cable for $79B
Henry Mayo Newhall Hospital invites the community to give the gift of life by donating blood during its summer blood drive on Tuesday, June 2, from 7 a.m. to 7 p.m. at the Henry Mayo Center Education Center, Rooms 5 and 6 on the hospital’s campus.
June 2: Blood Drive at Henry Mayo Hospital
Last week, after several alumni complaints, Boston University president Robert Brown condemned the racist tweets, sending an email to faculty: “We are disappointed and concerned by statements that reduce individuals to stereotypes on the basis of a broad category such as sex, race or ethnicity.” Even so, the school refused to rescind Professor Gundy's employment offer.
No Honor, Integrity Required | Commentary by Joe Messina
The Newhall County Water District is on the verge of launching a mobile app to allow residents to report excessive water use. Customers can take photos or videos of inefficient use and send it anonymously to the District with a specific location. The Valencia Water Co. and the Santa Clarita Water Division do not have an app, but all three districts have similar programs in place to report water waste through their website.
Water Utilities Making it Easy to Report on Neighbors
Santa Clarita Valley is on pace to see double the drug overdoes from 2014 if the current pace continues, according to Sheriff’s Station officials.
Drug Overdoses Double Across SCV
1971 - Community preview night (pre-grand opening), Magic Mountain [story]
Santa Clarita Organization for Planning and the Environment isn’t satisfied with a court ruling that cleared the way for the Castaic Lake Water Agency to own and operate the Valencia Water Co. SCOPE filed a notice of appeal Thursday.
SCOPE Appeals CLWA Takeover of Valencia Water
Tonight on SCV NewsBreak, A woman was arrested after attempting to light her neighbors house on fire. Plus, see how Eternal Valley’s 27th annual memorial day event showcased our fallen warriors on Monday morning. Click the link to see those stories and more on tonight’s edition of SCV NewsBreak.
SCV NewsBreak for Tuesday, May 26, 2015
The annual Elks Lodge Car Show and Chili Cook-Off returns to town on Saturday, June 6 for a day filled with fun and familial activities.
Elks Lodge to Host Car Show and Chili Cook-Off
Old Town Newhall clears its floor for the artistic and musical duet event ArtSlam and JAM Session once again on June 6 at 6 p.m.
African Dance and Drums Coming to Old Town Newhall
U.S. Rep. Steve Knight has announced a new location for his Santa Clarita Valley District Office.
Congressman Setting Up Local Office at Center Pointe
Here's what's news from the Valley Industry Association.
Santa Clarita Valley Industrial News
For those interested in learning more about foster care or becoming a resource parent, Children’s Bureau offers monthly information meetings throughout Los Angeles.
May 30: Foster Care & Adoption Info Meeting at COC
Valencia Pharmacy staffers are celebrating a grand reopening Monday, June 1, at a brand new location on Peachland Avenue by putting their entire store on sale, with 25 percent off wellness center products, medical supplies and pharmacy items.
Valencia Pharmacy Reopening in New Location
This week's events and activities from the SCV Chamber of Commerce.
SCV Chamber This Week (5-26-2015)