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

Inside
Weather
Santa Clarita CA
Sunny
Sunny
67°F
 
Calendar
Today in
S.C.V. History
December 18
1929 - Swift justice: Thomas Vernon sentenced to life in prison for Saugus train derailment & robbery 1 month earlier [story]


It was the worst October in nine years for single-family home prices across the Santa Clarita Valley, while condominium prices sank below last month’s nine-year low, according to data released Wednesday by the Southland Regional Association of Realtors.

The median price of a pre-owned, single-family home sold in October was $364,000, up from September’s $360,000 but off 6.7 percent from October 2010.

Median condo prices sank to $186,900 in October from $195,000 one month earlier, down a staggering  21.8 percent on the year.

Home sales volume improved in October, suggesting home sellers are either acquiescing to the depressed market or are forced to sell in spite of it.

The number of existing homes sold in October increased 7.3 percent on the month and 22.2 percent on the year, while 28.8 percent more condos sold in October than in September, up 14.9 percent on the year.

Realtors point to the opportunities available in this buyers’ market where interest rates hover around 4 percent and FHA-insured mortgages require small down payments.

“The people active in today’s market understand the scope of the opportunity,” said Sal Aranda, president of SRAR’s Santa Clarita Valley division. “Homes are incredibly affordable and interest rates on home loan have not been this low in decades.”

Jim Link, SRAR’s chief executive officer, said: Until government does something definitively to help housing, the market will improve only slowly, and people will sit on the sidelines, which is too bad because some will miss the best opportunity to buy a home in a generation.”

As of Oct. 31, there were 1,106 properties listed for sale in the SCV (including Acton), down 14.5 percent on the year, representing a 4.2-month supply, down from 5.9 months in October 2010. Realtors say a five- to six-month supply indicates a healthy market.

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.

No Comments

    Leave a Comment


    Latest Additions to SCVNews.com
    The Los Angeles County Sheriff’s Department is reminding the public about criminals who are posing as government agencies and using the telephone as part of an extortion scam.
    Sheriff: Beware of Phone Scams by Impostors
    The Santa Clarita Valley Chamber of Commerce will host an open house at its new headquarters in Valencia on Thursday, January 4 from 5 p.m. to 7 p.m.
    Jan. 4: Open House at New SCV Chamber of Commerce Office
    The Santa Clarita Valley Chamber of Commerce has opened nominations for 2017 business awards in four categories.
    Nominations Now Open for SCV Chamber 2017 Awards
    Here's the Santa Clarita Valley Sheriff's Station's public safety report for Newhall (Zone 6) for the week of December 4.
    Crime Blotter: Spousal Assault, Robbery, Grand Theft in Newhall
    1929 - Swift justice: Thomas Vernon sentenced to life in prison for Saugus train derailment & robbery 1 month earlier [story]
    A transformative epoch in Santa Clarita Valley history drew to an uncharacteristically quiet close Saturday with the death of Bobbie Trueblood Davis at age 93.
    Pre-City Leader Bobbie Trueblood Davis Dies at 93
    "The final tax reform bill released punishes homeowners and weakens homeownership, and in fact, it looks at homeowners and the housing market as nothing more than a piggy bank," said C.A.R. President Steve White.
    Realtors: Final GOP Tax Bill Punishes Homeowners
    1925 - Jenks Harris robs Piru bank of $11,000 [story]
    1902 - Hi Jolly (Hadji Ali), Gen. E.F. Beale's Syrian camel driver, dies at Quartzsite, Ariz. [story]
    The National Weather Service has called a Fire Weather Watch for this weekend for Los Angeles and Ventura County mountains and valleys including the Santa Clarita Valley due to gusty northeast wind and low relative humidity.
    Weekend Fire Weather Watch Called for SCV
    Santa Clarita Valley Sheriff's Station deputies arrested a 21-year-old man who had an outstanding warrant and was allegedly in possession of cocaine in Canyon Country early Thursday.
    Bicyclist Arrested for Warrant, Cocaine in Canyon Country
    Valencia-based Princess Cruises, voted the #1 international cruise line in Japan, announced its 2019 program featuring Japanese-built Diamond Princess returning for her sixth season, sailing roundtrip from Tokyo (Yokohama) and Kobe.
    Princess Cruises Unveils 2019 Japan Cruise Program
    Valencia-based Princess Cruises released its 2019 Canada and New England cruise schedule, featuring Regal Princess and Caribbean Princess on the line’s largest fall deployment and the opportunity to visit Greenland roundtrip from New York
    Princess Cruises Sets Fall 2019 Cruises to Canada, New England
    The Los Angeles County Sheriff's Department looks back at five years of work by its Domestic Highway Enforcement Team, which has disrupted the operations of the drug cartels by confiscating millions of dollars in illegal drugs and drug money.
    Elite LASD Drug Enforcement Team Disrupts Cartel Operations
    College of the Canyons quarterback Andrew Brito, wide receiver Desean Holmes and linebacker KJ Latu have been named to the 2017 Region III All-California Community College Football Team.
    Brito, Holmes, Latu Represent Cougars on All-State Team
    Tickets and sponsorships are now available for the Santa Clarita Valley Chamber of Commerce's 2018 awards ceremony and installation of new officers at Tournament Players Club in Valencia on Friday night, January 26.
    Jan. 26: SCV Chamber of Commerce 2018 Awards, Installation Gala
    Sponsorships are now open for the Santa Clarita Valley Economic Development Corporation's 2018 Economic Outlook Conference, set for Thursday, March 8, 2018 at a location to be announced shortly.
    SCV 2018 Economic Outlook Conference Tickets, Sponsorships Open
    SetPoint Medical, a Valencia-based biomedical company developing therapy for chronic inflammatory diseases, has received approval from the FDA to initiate a pilot trial in the U.S. for patients with drug-refractory rheumatoid arthritis.
    FDA OK’s SetPoint Bioelectronic Therapy Study for Rheumatoid Arthritis
    Governor Edmund G. Brown Jr., representing the United States - and states and regions leading on climate across the globe - joined world leaders at the One Planet Summit Tuesday, the two-year anniversary of the Paris Agreement.
    Brown in Paris: ‘We Can’t Wait for White House to Wake Up’
    The regular Planning Commission meeting scheduled for Tuesday, December 19 has been canceled, according to a notification from the city of Santa Clarita today.
    City Cancels Dec. 19 Planning Commission Meeting
    The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, December 19, starting at 9:30 a.m.
    Dec. 19: L.A. County Board of Supervisors Meeting
    L.A. County's Bringing Our Loved Ones Home Task Force officials unveiled their final recommendations, endorsing a plan to use a voluntary system of trackable bracelets to find people prone to wandering, like those suffering from Alzheimer’s or autism.
    County Task Force Calls for Tracking Bracelets to Locate Lost Individuals
    The Community Development Commission of the county of Los Angeles looks back on 35 years of advancing its core program areas: affordable housing and housing, community and economic development.
    County Community Development Commission Marks 35th Anniversary
    Metro is seeking two new members to join the Measure M Independent Taxpayer Oversight Committee.
    Metro Seeks 2 New Measure M Oversight Committee Members
    The California Air Resources Board approved a $663 million low-carbon transportation plan Thursday to increase the use of clean cars, heavy-duty trucks, buses and freight equipment.
    Air Resources Board OK’s $663 Million for Clean Vehicles
    The Santa Clarita Valley Sheriff's Station has released its public safety and crime information report for Saugus (Zone 4) for December 4-10, 2017.
    Crime Blotter: Shoplifting, Petty Theft in Saugus
    California Attorney General Xavier Becerra has filed his strong opposition to the Trump Administration’s illegal attempt to suspend the 2015 Clean Water Rule for two years.
    California AG, 10 Others Oppose Feds’ Suspension of Clean Water Rule
    Conservation groups on Friday lobbied a federal judge for permission to join a fight between the federal government and a ranching association over a trio of California amphibian species.
    Conservationists Lobby to Join Fray Over Frog Habitat
    1987 - Incorporation: Santa Clarita officially becomes a city [story]
    With an offense that challenged the program’s single-season goals record, The Master’s University women’s soccer team was almost almost never out of any game it played: The Mustangs were always within striking range.
    Lady Mustangs Within Range of Directors’ Cup Top Spots
    When Ed Jackiewicz met Tera Trujillo in spring 2015, she was studying at a desk she’d carried to the corner of the California State University, Northridge soccer field, in a “time out” of sorts, unable to practice because she’d just earned a D in an economics class.
    CSUN’s “Under Armour Faculty” Promotes Academic Success in Student-Athletes
    When Rafael Munoz recalls his time at the Layer 8 Computer Security Club at California State University, Northridge, he feels proud and thankful.
    CSUN’s Tech Education Makes Top 10 List
    The city of Santa Clarita Arts and Events division is currently seeking proposals for solo exhibits for 2018 in the gallery space at The MAIN, the City’s newest arts venue in Old Town Newhall.
    City Seeking Artists for 2018 Solo Exhibits
    NORTHRIDGE, Calif.---CSUN Men's Basketball returns to the road for the final time in the non-conference season this weekend.
    CSUN to Face-Off Against Formal Rival Eastern Washington
    Here is a list of Santa Clarita arts-related events for Friday:
    Dec. 15: Santa Clarita Arts Calendar
    This Friday and Saturday (Dec. 15-16), The Sharon Disney Lund School of Dance brings their annual Winter Dance Concert to the REDCAT stage.
    Dec. 15, 16: Sharon Disney Lund School of Dance Concert at REDCAT