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Santa Clarita CA
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Today in
S.C.V. History
March 20
2012 - County supervisors approve 50-year operating agreement for Placerita Canyon State Park [read]

Strong demand and a limited supply pushed Santa Clarita Valley home resale prices higher in 2013, according to data from the Southland Regional Association of Realtors.

The typical single-family home changed hands for $440,000 in December, off slightly from November’s $455,000 but up 9 percent over December 2012’s median price of $403,500.

The typical condominium sold for $255,000 in December – $40,000 lower than the $295,000 figure posted just one month earlier but still a full 27.5 percent ahead of the December 2012’s median price of $200,000.

homepriceshomesalesFor the full year, previously owned single-family home values in the SCV gained 14.7 percent on the year (to $421,625), while condo prices increased by 33.8 percent (to $257,142).

It was the first time the median condo price rose on an annual basis after declines in five of the last six years, and the second consecutive year of improvement in single-family home prices after five years of declines.

Buyers flocked to the more affordable condominium market in 2013, according to the Realtor group. More condos closed escrow in 2013 versus 2012; conversely, fewer single-family homes sold because there were fewer on the market. Short-sales and foreclosure sales ebbed, and other would-be home sellers sat on the sidelines.

“While demand was heavy with multiple offers common during much of 2013, a restricted inventory, tight credit, and rising resale prices limited home sales,” said Nancy Starczyk, president of the association’s SCV Division. “The inventory shortage was heightened as the number of distressed sales and foreclosures fell, and existing owners hesitated to sell due to uncertainties lingering from the Great Recession.”

Although still far short of the desired 5- to 6-month supply of homes, more single-family homes were listed for sale at the end of December on SRAR’s Multiple Listing Service (334) than on Dec. 31, 2012 (237), and more condos, too (138 versus 83).

Association CEO Jim Link predicted that “prices will continue to rise, but at a slower rate than 2013. What happens with federal housing policy remains the major wild card, and no one yet knows how new federal ‘ability-to-repay’ rules will impact access to credit.”

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  1. Roger Schalkx let’s get our party started already!

  2. Crazy. My place back home when I moved sold for 300k/ 2 Bedroom townhome 800 sq ft. We have a house here in FL 3 bedroom, 2 full bath 1800 sq feet for that much.

  3. So over the price of houses in CA!! Same house in Ohio a fraction of the price!

    • Frank says:

      Yeah, but you have to live in Ohio! Cleveland, Ohio at this very moment is 26 degrees. In Santa Clarita at this very moment it is 80 degrees!

      • Squidward says:

        Typical fathead comment. Those same people will be laughing when everything west of San Andreas slides into the sea.

  4. Ralph says:

    December 2013 County Unsold Inventory in terms of Month’s Supply

    Southern California (by County)
    Los Angeles 3.0
    Orange County 2.9
    Riverside County 4.0
    San Bernardino 3.6
    San Diego 3.6
    Ventura 2.8


    Read more here: http://www.heraldonline.com/2014/01/17/5591422/california-home-sales-decline.html#storylink=cpy

  5. Tanya Parker Tanya Parker says:

    We’ve hit the top now though I think. Houses are on the market longer and price reductions are common

    • Jack says:

      Just keep telling yourself that, Tanya. I believe, on the other hand, that there are many reasons why this supply problem will exist at for the next few years.

  6. Glad I own 4 properties in the SCV.

  7. Josh Shannon Josh Shannon says:

    Then I will wait for the next earthquake to buy.

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