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

SCVNews.com | SCV Single-Family Home Values Up 9.9% Over 2015 | 08-26-2016
Inside
Weather
Santa Clarita CA
Sunny
Sunny
67°F
 
Calendar
Today in
S.C.V. History
May 24
1860 - Colonel Thomas F. Mitchell arrives in Soledad Canyon [story]


mckeonhomeRealtors helped closed escrow on 234 single-family and 94 condominium sales during July throughout the Santa Clarita Valley, totals that pulled back from record highs set the prior month, the Southland Regional Association of Realtors reported on Thursday, Aug. 25.

The 234 home sales were 8.2 percent below a year ago and 11.7 percent below the 265 closed escrows reported in June, which was the highest monthly tally since October 2005.

Escrow also closed on 94 condominiums, down 21.0 percent from July 2015 and 26.0 percent lower than the 127 sales of June — the highest condo total since August 2013.

“I believe we’re hitting a point where buyers are resisting rising prices, with price increases coming slower even as the inventory of homes for sale stays too tight,” said M. Dean Vincent, president of the Santa Clarita Division of the Southland Regional Association of Realtors.

“There’s still plenty of demand out there and the local economy is improved,” Vincent said, “but low housing affordability and reduced buying power of homebuyers has put a cap on how fast the median price can increase.”

The median price of the 234 homes that changed owners ast month came in at $560,000, up 9.9 percent compared to July 2015. However, the median price fell 2.6 percent from the June median of $575,000, which was the highest since June 2007. The July median price was 12.9 percent below the record high of $643,000 set in April 2006.

The median price of condominiums sold during July was $331,000, up 0.3 percent over July 2015, and 16.6 percent below the record high condo median price of $397,000 established in January 2006. The high point since then came this May at $349,500.

“Not surprisingly,” said Jim Link, the Association’s chief executive officer, “rising prices combined with limited supply and falling affordability translate into fewer sales.

“We are hearing that prices have gotten to the point where buyers are hesitant go higher than list price,” Link said. “There’s more negotiating going on and more sales coming in under list price and we’re not seeing as many sales at full price, especially since the number of all-cash buyers has receded.”

There were 626 active listings through Santa Clarita. That number was the highest in 10 months, yet off 9.1 percent compared to July 2015. At the current pace of sales it represented a 1.9-month supply, slightly higher than the July 2015 backlog of 1.8 months.

Of the 328 combined residential transactions last month, 96.3 percent were standard sales involving traditional buyers and sellers. There were 10 distressed sales: six foreclosure-related transactions for a 1.8 percent market share, and four short sales for a 1.2 percent market share.

Pending sales, a measure of future sales activity, fell 16.2 percent to 332 open escrows reported at the end of July.

The Southland Regional Association of Realtors is a local trade association with more than 9,500 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.

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
NASDAQ6163.02  chart +0.40%
S&P 5002404.39  chart +0.25%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita15.40  chart +1.12%
Biosolar, Inc.0.0373  chart -18.74%
Sierra Bancorp25.28  chart -1.63%
Cu Bancorp (ca)36.55  chart -0.27%
Enable Ipc Corp0.0008  chart +0.00%
Flex Ltd.16.98  chart +1.49%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Mannkind Corporation1.28  chart -1.54%
Mission Vly Bcp Ca12.75  chart -1.92%
Quest Diagnostics Incorporated 106.54  chart +0.03%
Tejon Ranch Co Common Stock20.19  chart -0.15%
Us Energy Initiative0.0005  chart +0.00%
Wesco Aircraft Holdings, Inc. C9.40  chart +1.08%

Apple Inc.153.34  chart -0.30%
At&t Inc.38.15  chart -0.42%
Autonation, Inc. Common Stock39.24  chart +0.64%
Best Buy Co., Inc. Common Stock50.42  chart -2.19%
Big Lots, Inc. Common Stock46.98  chart +0.06%
Barnes & Noble, Inc. Common Sto6.70  chart -2.19%
Brady Corporation Common Stock37.35  chart -0.13%
Boston Scientific Corporation C27.05  chart +1.42%
N/a24  chart +0.00%
Cbre Group Inc Common Stock Cla34.29  chart +0.41%
Carnival Corporation Common Sto62.02  chart +0.81%
Comcast Corporation40.33  chart +1.38%
Costco Wholesale Corporation173.01  chart +0.31%
Curtiss-wright Corporation Comm87.02  chart +0.94%
Cvs Health Corporation Common S76.42  chart -1.10%
Cemex, S.a.b. De C.v. Sponsored8.49  chart -1.05%
D.r. Horton, Inc. Common Stock33.60  chart +0.69%
Walt Disney Company (the) Commo107.71  chart +0.64%
Edison International Common Sto79.22  chart +0.51%
Hyatt Hotels Corporation Class 58.11  chart +0.22%
Home Depot, Inc. (the) Common S155.00  chart +0.11%
Kb Home Common Stock21.28  chart +0.47%
Kroger Company (the) Common Sto29.13  chart +0.03%
Lennar Corporation Class A Comm51.98  chart +0.68%
Laboratory Corporation Of Ameri140.68  chart +0.70%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Lowe's Companies, Inc. Common S79.85  chart -3.02%
Marriott International105.88  chart +0.37%
Mcdonald's Corporation Common S149.50  chart +1.14%
Mitsubishi Ufj Financial Group,6.27  chart +0.16%
Netflix, Inc.157.75  chart -0.13%
Office Depot, Inc.4.97  chart -0.80%
Rite Aid Corporation Common Sto3.66  chart +3.39%
Rexford Industrial Realty, Inc.26.95  chart +1.51%
Regal Entertainment Group Class20.20  chart -1.51%
Ross Stores, Inc.61.95  chart -0.11%
Republic Services, Inc. Common 62.41  chart +0.08%
N/aN/A  chartN/A
Starbucks Corporation61.89  chart +1.21%
Smart & Final Stores, Inc. Comm12.95  chart -2.26%
Sears Holdings Corporation7.47  chart -3.98%
Six Flags Entertainment Corpora61.84  chart +0.88%
Sonova N159.70  chart +0.44%
Staples, Inc.8.78  chart +1.15%
Sunpower Corporation8.27  chart +4.03%
Target Corporation Common Stock54.13  chart -0.66%
Time Warner Cable Inc209.56  chart +0.00%
Ulta Beauty, Inc.280.51  chart -3.46%
Walgreens Boots Alliance, Inc.80.58  chart -0.81%
Waste Connections, Inc. Common 93.13  chart +0.78%
Whole Foods Market, Inc.35.32  chart -0.03%
Waste Management, Inc. Common S71.38  chart +0.51%
Wal-mart Stores, Inc. Common St78.15  chart -0.43%
Woodward, Inc.68.06  chart +0.83%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
A Los Angeles Police Department (LAPD) motorcyclist that collided with a truck on Interstate 5 in the early hours of Tuesday morning is recovering at Henry Mayo Newhall Hospital, a spokesman said.
LAPD Motorcyclist in “Serious” Condition after Tuesday’s I-5 Collision
Tonight on SCV NewsBreak, an update on the LAPD motorcyclist that collided with a truck on the I-5 Tuesday morning. Plus, Castaic Middle School students get a glimpse at a career in animal training. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Wednesday, May 24, 2017
An 8-year-old Santa Clarita girl is fighting for her life Wednesday, leaving her family asking the community for blood donations to help her survive.
8-Year-Old Girl in Need of Blood Donations
State Superintendent of Public Instruction Tom Torlakson on Tuesday urged Congress to reject President Trump’s federal education budget proposal, which includes deep cuts to teacher training, after school programs, mental health services, advanced coursework, and many other important programs.
State Superintendent Urges Congress to Reject Federal Education Budget Proposal
On May 16, 2017, the State Water Resources Quality Control Board approved an amendment to the Los Angeles Water Quality Control Plan (Basin Plan) to incorporate Salt and Nutrient Management Measures for the Upper Santa Clara River Basin.
Salt, Nutrient Management Measures Approved for Santa Clara River Basin
Valencia Water Company (VWC) is encouraging customers to maintain their water-saving achievements from the recent drought and take advantage of improved rebates, incentives, online workshops and other resources to secure permanent water efficiencies inside their homes and for their landscapes.
Valencia Water Company Expands Rebates to Help Home Water-Use Efficiencies
Bigger, better and wetter than ever, Six Flags Hurricane Harbor is ready to keep Southern Californian’s cool all summer long. The water park opens for its 23rd season on Saturday, May 27 with over 23 unique slides and attractions for the entire family.
May 27: Six Flags Hurricane Harbor Splashes Into Summer
Princess Cruises, the world’s largest premium cruise line, and the Chinese People’s Association for Friendship with Foreign Countries (Friendship Association) officially began Majestic Princess’ journey from Rome to China which will feature a cultural exchange program themed “Telling the Chinese Story along the Silk Road Sea Route.”
Majestic Princess Begins Journey to China Along the Silk Road Sea Route
Four California Department of Transportation (Caltrans) employees who showed courage in the face of danger have been presented with the Governor's State Employee Medal of Valor Award.
Caltrans’ Employees Receive Highest Honor for State Public Servants
In recognition of how vital small businesses are to local economies, the City of Los Angeles and Small Business Administration (SBA) Resource Partners awarded John Pictaggi, owner of National Glass, an Outstanding Small Business Award at City Hall on May 1.
COC Small Business Development Center Client Wins Award
From Thursday to Saturday, nine student-athletes from The Master’s University will compete at the NAIA National Championships at the Mickey Miller Blackwell Stadium in Gulf Shores, Alabama.
TMU Competing in 2017 NAIA Outdoor Track & Field Championships
Brian Mundell drove in the final three runs to propel the JetHawks to a come-from-behind 5-4 victory over the San Jose Giants on Tuesday night at The Hangar.
Santa Clarita Native Lifts JetHawks to Victory
1860 - Colonel Thomas F. Mitchell arrives in Soledad Canyon [story]
Tonight on SCV NewsBreak, an LAPD motorcycle officer is injured in an early morning crash. Plus, Henry Mayo Newhall Hospital celebrates the topping out ceremony for their new patient tower. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Tuesday, May 23, 2017
Tuesday, Representative Steve Knight’s (CA-25) bill, No Hero Left Untreated Act, passed unanimously from the House of Representatives and now heads to the Senate for consideration.
Knight’s ‘No Hero Left Untreated Act’ Unanimously Passes House
The COC SBDC is hosting a local pitch competition on June 1, as part of InnovateHER 2017. The SBA National competition with cash prizes totaling $70,000 in the final round is scheduled for September 2017.
June 1: COC SBDC Hosts InnovateHER Pitch Competition
According to the South Coast Air Quality Management District, air quality will be unhealthy for sensitive individuals in Santa Clarita Valley on Wednesday, May 24.
Air Quality Advisory Issued for Santa Clarita Valley
The median price of single-family homes in the Santa Clarita Valley that closed escrow during April was $555,000, up 3.1 percent from April 2017 and 3.7 percent higher than March.
Median Price of Single Family Homes Up 3.1 Percent
The SCV Senior Center is offering a new class that will teach attendees the art of crochet and jewelry making.
SCV Senior Center Offering New Class on Crochet, Jewelry Making
Get ready for the sounds of live Jazz and Blues bands to once again fill Town Center Drive in Valencia. Established 18 years ago, the series will once again feature regional, national and international entertainers in a quaint street party setting while offering interactive activities for adults and children.
2017 Valencia Jazz and Blues Concert Series Announced
Attorney General Xavier Becerra announced Tuesday a record $18.5 million multi-state settlement with Target, in response to allegations that over 40 million customers had their payment card information compromised during the 2013 holiday season after the company failed to provide reasonable data security.
Becerra Announces $18.5 Million Multi-State Settlement with Target
An injury crash reported at approximately 5:15 a.m. involving a truck and an LAPD motorcycle shut down all lanes of southbound traffic on I-5 near Lyons Avenue, and LAPD and CHP officers are reportedly on scene investigating. By 8:45 a.m., all lanes had reopened, but CHP officials remained on scene near the Lyons Ave. off-ramp.
Early Morning I-5 Collision Injures LAPD Officer
College of the Canyons music student Justin Horwitz is one step close to his goal of becoming a music director thanks to a $21,000 transfer scholarship to Rider University in New Jersey.
COC Graduating Music Student Receives $21,000 Scholarship
Detectives with the Sheriff’s Station’s Narcotics Unit arrested five suspects Tuesday morning in connection a raid on a suspected drug house.
Arrests Made at Suspected Canyon Country Drug House
Craig Schlitter’s run of seven-straight quality starts came to an end as the Lancaster JetHawks fell to the Inland Empire 66ers, 6-1, on Monday night at San Manuel Stadium.
JetHawks Lose 6-1 to 66ers
Memorial Day weekend is the traditional start of summer and a time when many families and travelers will be on the go. California Highway Patrol (CHP) officers will take to the roads throughout the holiday weekend and will be working to save lives through seat belt education and enforcement.
Seat Belt Safety Never Takes a Holiday
The Los Angeles County Sheriff’s Department will be conducting a specialized Motorcycle Safety Enforcement Operation on May 24, 2017 in an effort to lower deaths and injuries.
May 24: LASD Conducting Motorcycle Safety Enforcement Operation
Caltrans has adopted California’s first statewide bicycle and pedestrian plan, Toward an Active California, which lays out policies and actions to support active modes of transportation.
Caltrans Adopts State Bicycle, Pedestrian Plan
The Castaic Lake Water Agency Planning and Engineering Committee is scheduled to meet on Tuesday, May 30 at 5:30 p.m. in the Training Room at the Rio Vista Water Treatment Plant.
May 30: CLWA Planning & Engineering Committee Meeting
Santa Clarita residents can learn CPR at Henry Mayo Newhall Hospital during a special county-wide event on Thursday, June 1 in front of the hospital’s main building and at the Jo Anne Darcy Library in Canyon Country.
June 1: Sidewalk CPR Day at Henry Mayo
Valencia Crime/Public Safety Report, May 8-14
Crime Blotter: Domestic Violence, Grand Theft in Valencia
1941 - SCV's first real movie house, the American Theater, dedicated in Newhall [story]
The regular meeting for the Sulphur Spring Union School District Governing Board will be held on May 24 at 7 p.m.
May 24: SSUSD Governing Board Regular Meeting
Einstein Academy officials were dealt another blow Monday, when their ex parte hearing was denied in a Los Angeles County Superior courtroom.
Superior Court Judge Denies Hearing for Einstein Academy
A Los Angeles County judge dismissed the charges last week against one of three people accused of human trafficking in Santa Clarita.
Charges Dismissed Against One of Three People in Human Trafficking Case
Tonight on SCV NewsBreak, a brush fire broke out in the vicinity of Sierra Highway and Hillfield Lane on Monday. Plus, celebrate the newest art exhibit to take over the Town Center Art Space. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Monday, May 22, 2017