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

Inside
Weather
Santa Clarita CA
Sunny
Sunny
61°F
 
Calendar
Today in
S.C.V. History
February 22
1983 - Armed robber taken out at Alpha Beta supermarket on Lyons [story]
Alpha Beta market


More single-family homes were sold in October than September but at slightly lower prices, according to data Tuesday from the Southland Regional Association of Realtors.

The typical single-family home changed hands for $360,000 in October, down from $370,000 in September, while condominium prices averaged $200,000 in October versus $203,900 in September.

But the prices were in line with averages for the year. Throughout 2012, prices of previously owned single-family homes have averaged $364,610 – roughly even with the 2011 mark of $364,867.

Meanwhile, prices of previously owned condos have averaged 190,890 during 2012, down from 210,675 in 2011.

Single-family home and condo prices hit a 10-year low on an annual basis during 2012. Annual averages climbed during the 1990s and early 2000s, peaking in 2006 at about double the current levels.

““Not only is Santa Clarita a fantastic place to live, but today’s prices are unlikely to be seen again for a long while,” said Erika Kauzlarich-Bird, president of SRAR’s Santa Clarita Valley Division.

October saw 23 percent more single-family homes close escrow than September (217 versus 190), but fewer condos changed hands (83 versus 91).

Kauzlarich-Bird said the increase in single-family home closings indicates that “traditional buyers are coming back into the market as they finally understand the scope of today’s opportunities, even with an incredibly limited inventory.”

There were just 373 active listings at the end of October, SRAR officials said, which equates to a 1.3-month supply of for-sale homes. A five- to six-month supply is a sign of a healthy market.

“Santa Clarita is part of a statewide trend that has seen the supply of homes listed for sale fall sharply lower with each passing month,” said SRAR CEO Jim Link. “Some of the inventory decline is due to a drop in listings of bank-owned properties, which is a positive sign that the market moving back to normal.”

SRAR said 12.7 percent of October’s single-family and condo sales were REOs (bank-owned property typically acquired via foreclosure); 35.1 percent were short sales (where lenders allow a sale for less than what is owed); and 36.5 percent were standard or traditional equity sales.

“Despite a vanishing inventory, we’re confident that 2013 will see strong activity and continued improvement in the local housing market,” Link said. “There’s pent-up demandfor housing out that is generating multiple offers on virtually every property.”

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


Latest Additions to SCVNews.com
The trucker accused of killing two women and four young children when his big rig hit a minivan two years ago showed no signs of weaving lanes, swerving or driving in a “serpentine manner” on the freeway before the crash, an investigator said in court Thursday.
Jury Hears How Accused Trucker Drove Safely Before Fatal Crash
City of Santa Clarita officials, the Los Angeles County Sheriff’s Department staff and county representatives joined the community in thanking the brave, hardworking men and women of the Santa Clarita Valley Sheriff’s Station.
Santa Clarita Officials Thank Sheriff’s Department for Reducing Local Crime
Los Angeles County Fire Department officials reported finding a man deceased on the sidewalk of the 18200 block of Soledad Canyon Road in Canyon Country on Friday morning.
Man’s Body Found in Canyon Country
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, Feb. 26, starting at 9:30 a.m.
Feb. 26: LA County Board of Supervisors Meeting
California Attorney General Xavier Becerra and Assemblymember Lorena Gonzalez, D-San Diego, unveiled legislation, AB 1296, the Tax Recovery in the Underground Recovery program (TRUE Act), on Friday to combat underground economic crimes.
State Lawmakers Intro Bill to Fight Law-Evading Underground Economy
The Los Angeles County Board of Supervisors continues to make significant strides in preserving and increasing the stock of affordable housing throughout the county by approving the first of two rounds of investments that will bring to market a total of 1,562 units of affordable housing.
LA County Continues Investments to Increase Affordable Housing
California Attorney General Xavier Becerra and Assemblymember Marc Levine, D-North San Francisco, are seeking to bolster California’s consumer privacy laws with new legislation requiring businesses to notify customers when their passport numbers and biometric information have been compromised.
California Bill Aims to Give Privacy Law Sharper ‘Teeth’
The inventory of homes and condominiums listed for sale throughout the Santa Clarita Valley continued to rise during January even as high resale prices and seasonal forces combined to keep sales in check, the Southland Regional Association of Realtors reported Friday.
Housing Inventory Up for 8th Month as Sales Slow, Prices Moderate
Three Southern California men conspired with a Los Angeles County Sheriff’s Department deputy to steal cash and 1,200 pounds of marijuana in a sham warehouse raid staged to look like a police operation, federal authorities said Thursday.
Feds File More Charges in Bogus Raid of LA Pot Warehouse
California’s unique ability to set strict car emissions rules is on the chopping block after the Trump administration said Thursday it was ending talks with state officials over a new federal standard.
White House Scraps Talks With California on Auto Emissions
California Attorney General Xavier Becerra criticized the Trump-Pence Administration Friday for issuing its Title X family planning final rule, which restricts access to critical preventive healthcare including birth control and prohibits doctors from discussing abortion with patients or providing referrals for abortion.
California AG: Trump-Pence Title X Family Planning Rule Disregards Women’s Health, Rule of Law
California Attorney General Xavier Becerra is leading a multistate amicus brief in support of a lawsuit challenging the U.S. Customs and Border Protection’s practice of unlawfully denying individuals access to the asylum process at ports of entry on the southern border.
States Support Suit Against Feds’ ‘Turnback Policy’ at Southern Border
A stolen car suspect was arrested at gunpoint early Thursday evening following an hour-long police pursuit that wound through Saugus and Valencia and ended up limping toward Val Verde with tires shredded by spike strips thrown down to stop him.
Car Theft Suspect Arrested After Chase into Valencia
1983 - Armed robber taken out at Alpha Beta supermarket on Lyons [story]
Alpha Beta market
Princess Cruises launched its first advertising campaign written and produced specifically for its international markets, titled "Princessa" on Wednesday.
Princess Cruises’ New Ad Campaign Targets Asian, Emerging Markets
Local residents were both pleasantly surprised and downright shocked when a weather system brought a mixture of hail, rain and snow to the Santa Clarita Valley Thursday.
Mixture of Rain, Hail, Snow Falls on SCV
On Saturday, Feb. 23, CalArts alum and composer Danny Wood (Music BFA 13) performs in concert, opening for Grammy-winning pianist Gloria Cheng.
CalArts Alum to Perform with Grammy-Winning Pianist Gloria Cheng
In the after-hours of Super Bowl Sunday, Feb. 3, a group of CalArts students gathered at El Cid in the Silver Lake neighborhood of L.A. for several hours of poetry and prose readings.
CalArtians Participate in Marathon Reading at El Cid
LOS ANGELES – The Los Angeles Dodgers will honor the legacy of pitching great Don Newcombe, who passed away Tuesday at the age of 92, with a commemorative uniform number “36” patch, it was announced Thursday by Dodger President Stan Kasten.
Dodgers to Honor Don Newcombe with Uniform Patch
NORTHRIDGE - The CSUN women's tennis team returns to action at home Friday when the Matadors host Southeastern Louisiana University. The non-conference dual will begin at 1:00 p.m.
Matadors Return to Action Friday Against Southeastern Louisiana
The Saugus High School Band Program will be holding three separate fundraising nights over the next three months at the Vincenzo's Saugus location.
Saugus High Band Program to Hold 3 Fundraisers at Vincenzo’s
LOS ANGELES – The Los Angeles County Health Officer is extending a Cold Weather Alert due to the National Weather Service’s forecast for low temperatures. Wind chill temperatures are expected to be below 32 degrees Fahrenheit.
SCV Cold Weather Alert Extended Until Sunday
After an 18-month-long process, Metrolink trains now have automated external defibrillators, including those on the Antelope Valley line, which serves the Santa Clarita Valley.
Metrolink Now Equipped with Defibrillators
The city of Santa Clarita is proud to announce a new community partnership with California Resources Corporation (CRC), the largest independent oil and natural gas exploration and production company, operating exclusively in California.
Oil Company Named Title Sponsor of 2019 Cowboy Festival
The next episode of, "S.W.A.T," which will air Thursday night, Feb. 21, will feature a very familiar studio.
SCVTV Studio to be Featured in ‘S.W.A.T’ Thursday Night
SACRAMENTO, Calif. (CN) – Reigniting their fight against soda companies they claim are fattening Californians, state lawmakers introduced a five-pack of bills Wednesday that includes a new tax and a cap on soda sizes.
State Lawmakers Intro Bills that Go After Soda Makers
Here is the list of Santa Clarita arts-related events for Feb. 27 - March 3:
Feb. 27 – March 3: Santa Clarita Arts Calendar
SACRAMENTO - Senator Scott Wilk, (R-Santa Clarita), representing the 21st Senate District, announces he has introduced Senate Bill 409 (SB 409), legislation that will protect rural communities from unlawful dumping, by enhancing enforcement efforts.
Wilk Bill Aims to Protect Neighborhoods from Unlawful Dumping
SACRAMENTO – California Attorney General Xavier Becerra and Assemblymember Marc Levine (D-San Rafael) unveiled Thursday AB 1130, legislation to strengthen California’s data breach notification law to protect consumers.
Becerra Unveils Bill to Strengthen State’s Data Breach Notification Law
A man who went missing Wednesday morning is home safe with his family thanks to Los Angeles County’s L.A. Found program
County’s L.A. Found Program Credited with Locating Man Who Has Autism
1923 - Newhall Chamber of Commerce organized; Albert Swall elected president [story]
Albert Swall
The Master's University women's track team didn't have any runners qualify for NAIA nationals on Saturday, but the Mustangs did witness several performances that caught the attention of head coach Zach Schroeder.
TMU Women’s Track Opens with Strong Showing at Soka Indoor Event
TMU freshman swimmer Werner hit the NAIA qualifying standard in the 100-yard backstroke Friday at the Pacific Collegiate Swim and Dive Conference Finals in La Mirada.
Barnett, Werner Add Events for NAIA Swim Nationals
The National Weather Service in Los Angeles/Oxnard issued a Freeze Watch Wednesday afternoon to be in effect in the Santa Clarita Valley from late Thursday night through Friday morning.
Freeze Watch Called for SCV Thursday Night, Friday Morning
A group of employees of Valencia-based Boston Scientific has helped the Santa Clarita Valley chapter of PFLAG create and assemble 800 educational packets for local schools.
Boston Scientific Group Helps SCV PFLAG Education Effort
The app displays general cost, coverage and eligibility details for medical items and services covered by Medicare Part A and Part B. You can search or browse to learn what’s covered and not covered; how and when to get covered benefits; and basic cost information.
Free App Shows What Medicare Covers