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

Inside
Weather
Santa Clarita CA
Clear
Clear
80°F
 
Calendar
Today in
S.C.V. History
October 23
1888 - 8:15 a.m.: Newhall's luxurious Southern Hotel burns to the ground [story]


Sales of existing single-family homes increased 7.4 percent throughout Santa Clarita
during August while the median price of homes that changed owners rose 6.6 percent,
the Southland Regional Association of REALTORS® reported today.

A total of 262 homes closed escrow, up 18 transactions from a year ago and 40 sales
higher than this July.

After months of posting higher sales as buyers sought affordable housing, condominium
closed escrows returned to earth during August. REALTORS® helped close escrow on
91 condominiums, a 7.1 percent drop from August 2016, and fell 41 sales or 31.1
percent from July.

“The regionwide lack of inventory impacted home and condo sales,” said Marty Kovacks,
chairman of the Association’s Santa Clarita Valley Division. “Buyers ran out of condo
options as earlier offerings in entry-level market ranges were gobbled up and home
buyers competed against each other whenever a properly priced home hit the market.

“There’s little surprise any more whenever the laws of supply and demand kick into
action,” Kovacs said.

The Association reported 533 active listings at the end of August. That was down 14.4
percent from a year ago and represented a 1.5-month supply at the then current pace of
sales, well below the nine-year average monthly listing of a 4.9-month backlog.
With the exception of only three months, every month since February 2016 has posted a
drop in the active inventory, including double-digit drops reported in six of this year’s
eight months. For comparison, the record high inventory came in September 2006 with
2,630 active listings.

“Fluctuations in loan interest rates and the widespread awareness of a lack of inventory
contribute to a sense of urgency for the dwindling number of prospective buyers who can
still afford to by at today’s prices,” said Tim Johnson, the Association’s chief executive
officer. “The lack of inventory clearly influences buyers and drives prices higher, realities
that likely will continue for the foreseeable future.”

The median price of homes sold last month came in at $574,500, up 6.6 percent from
August 2016. The home median price was 10.7 percent below the record high of
$643,000 set in April 2006. The highest median since that record was this June’s price of
$586,000.

Condominiums that changed owners last month posted a median price of $360,000, up
3.6 percent from a year ago. That also was 9.3 percent below the record high of
$397,000 set in January 2006.

Pending escrows, a gauge of future sales activity totaled 343, down 3.9 percent from
August 2016.

Of the 353 combined residential transactions reported in August, 97.5 percent were
standard sales involving traditional buyers and sellers. There were a total of four
foreclosure-related transactions and four short sales with each representing a 1.1
percent share of the market.

August Home Sales
Condo Sales

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.

5 Comments

  1. Lauri Gentry Lauri Gentry says:

    I feel sad for those just entering the home market. It is becoming increasingly difficult for first time buyers to qualify for a home.

  2. Was getting close, now have to wait again. Toll Bros. and KB both raised prices by $50k overnight. As if the cost of building said homes increased $50k overnight. Making out like bandits. Pathetic.

  3. El Rey El Rey says:

    Plus the homes out here are built like crap. Got friends who build KB’s & Toll. They advise me to please buy something else. Workmanship is really bad. Yet are worth more than a qtr mill? Lmao.

  4. Since Nixon left the Gold Standard in August of 71′ all your dollars are worthless. It’s not backed by anything and literally just printed like Monopoly money. Plus you contribute the price of inflation and now your dollar is pretty much worth what is was 40 years ago. And when the market crashes because it is going to crash if you haven’t noticed the prices of everything is skyrocketing or has been. Homeowners are going to be the one suffering when it takes that DIP owing more money than what the house is even worth most likely ending up in a REPO or a FORCLOSURE. Very few people in their 20s can barely purchase a house if they meet the high standard requirements so I don’t get how we are supposed to raise a family. Anyways, blesssaid be you all 😊

Leave a Comment


LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
STOCKS OF LOCAL INTEREST
Bank Santa Clarita17.251  chart +0.00%
Biosolar, Inc.0.0355  chart -11.25%
Sierra Bancorp27.65  chart -0.22%
Cu Bancorp (ca)37.50  chart +1.63%
Flex Ltd. - Ordinary Shares17.78  chart +0.40%
Mission Vly Bcp Ca14.20  chart +0.50%
Quest Diagnostics Incorporated95.08  chart +1.98%
Tejon Ranch Co19.38  chart +0.73%
Us Energy Initiative0.0007  chart +0.00%
Wesco Aircraft Holdings, Inc.9.50  chart +0.53%

Apple Inc.156.25  chart +0.17%
At&t Inc.35.54  chart -0.42%
Autonation, Inc.45.50  chart +2.20%
Best Buy Co., Inc.55.83  chart +0.67%
Big Lots, Inc.52.52  chart +0.92%
Barnes & Noble, Inc.7.35  chart +2.08%
Brady Corporation38.40  chart +0.26%
Boston Scientific Corporation29.69  chart +0.41%
Brookfield Asset Management Inc42.89  chart +0.02%
Cbre Group Inc Class A40.24  chart +0.57%
Carnival Corporation65.88  chart +0.14%
Comcast Corporation37.22  chart +0.87%
Costco Wholesale Corporation160.77  chart +1.46%
Curtiss-wright Corporation114.08  chart +0.80%
Cvs Health Corporation76.49  chart +2.49%
Cemex, S.a.b. De C.v. Sponsored7.96  chart -1.61%
D.r. Horton, Inc.42.67  chart +0.33%
Walt Disney Company (the)99.40  chart +0.39%
Edison International79.60  chart +0.16%
Hyatt Hotels Corporation Class 61.85  chart -0.02%
Home Depot, Inc. (the)163.43  chart +0.12%
Kb Home27.05  chart +0.07%
Kroger Company (the)21.02  chart +0.62%
Lennar Corporation Class A57.50  chart +1.32%
Laboratory Corporation Of Ameri151.72  chart +0.26%
Lowe's Companies, Inc.80.04  chart -1.51%
Mannkind Corporation4.11  chart +3.79%
Marriott International115.02  chart -0.16%
Mcdonald's Corporation166.30  chart -0.12%
Mitsubishi Ufj Financial Group,6.51  chart +0.46%
Netflix, Inc.194.16  chart -0.50%
Office Depot, Inc.3.78  chart +3.00%
Rite Aid Corporation1.78  chart -2.73%
Rexford Industrial Realty, Inc.29.91  chart -0.20%
Regal Entertainment Group Class16.29  chart -1.63%
Ross Stores, Inc.64.23  chart +1.33%
Republic Services, Inc.64.19  chart +0.85%
Starbucks Corporation54.57  chart -1.50%
Smart & Final Stores, Inc.7.00  chart -0.71%
Sears Holdings Corporation6.55  chart +8.09%
Six Flags Entertainment Corpora60.82  chart +0.28%
Sonova N174.50  chart +1.57%
Staples, Inc.10.25  chart +0.10%
Sunpower Corporation6.68  chart -0.15%
Target Corporation61.76  chart +2.20%
Time Warner Cable Inc209.56  chart -0.21%
Ulta Beauty, Inc.204.84  chart +0.11%
Walgreens Boots Alliance, Inc.68.06  chart +1.28%
Waste Connections, Inc.70.60  chart -0.25%
Whole Foods Market, Inc.N/A  chart +0.00%
Waste Management, Inc.77.73  chart +0.47%
Wal-mart Stores, Inc.87.44  chart +1.20%
Woodward, Inc.81.36  chart +1.06%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
1888 - 8:15 a.m.: Newhall's luxurious Southern Hotel burns to the ground [story]
Bobbi Jean and her husband Jim Bell, whose OutWest clothing store and popular TV concert series celebrated all things Western and equestrian and helped revitalize Old Town Newhall over the past decade, will soon ride east into the sunrise: They’re moving to New Mexico.
OutWest Owners Jim and Bobbi Jean Bell Ride East Into the Sunrise
1898 - Birth of Mary S. Ruiz, eldest child of Enrique & Rosaria Ruiz of San Francisquito Canyon; all died in 1928 dam disaster [cemetery census]
2007 - Buckweed fire chars 38,000 acres, destroys 21 homes in Canyon Country and Agua Dulce [story]
Tonight on SCV NewsBreak, a sexual assault suspect was arrested Thursday night. Plus, some great weekend events. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Friday, October 20, 2017
Forever Fit SCV, a Santa Clarita sports and personal fitness training company, will host a "Pumpkin Workout" at its Centre Pointe location on Saturday, October 28, starting at 9 a.m.
Oct. 25: Pumpkin Workout Benefits American Cancer Society
The next regular meeting of the Governing Board of the William S. Hart Union High School District is set for Wednesday, Oct. 25 at 7 p.m.
Oct. 25: Hart School District Governing Board Meeting
The LA County Public Defender has won the Silver Eagle Award for its Public Defender Jail Liaison Program during the 31st Annual Productivity and Quality Awards Ceremony on Oct. 18 at the Dorothy Chandler Pavilion.
LA County Public Defender Soars with Silver Eagle Award
The Los Angeles County Health Officer has issued a heat alert as high temperatures have been forecast for the Los Angeles Basin on Monday, October 23 through Tuesday, October 24.
Heat Alert for SCV, L.A. County on Monday, Tuesday
The Academy Museum of Motion Pictures has received three major gifts toward the creation of the museum in Los Angeles, bringing fundraising to more than $300M, nearly 80 percent of its $388M campaign goal.
Motion Picture Museum Nears $388M Campaign Goal
Caltrans added nearly 1,200 lane miles of pavement repair and 66 bridges to its growing list of projects to be delivered sooner than planned, thanks to the imminent influx of revenue from the Road Repair and Accountability Act of 2017 (SB 1), the transportation funding and reform package passed in April.
Nearly $3.4 Billion in Transportation Projects to Be Accelerated
The city of Santa Clarita and SCV Veterans Memorial, Inc. invite the public to attend a special ceremony unveiling the new Fallen Warriors Monument at Veterans Historical Plaza in Newhall on Wednesday, November 8 starting at 10 a.m.
Nov. 8: City Unveils Fallen Warriors Monument in Newhall
Crime Prevention deputies from the Santa Clarita Valley Sheriff's Station along with Los Angeles County Probation Department officers conducted probation compliance searches Friday throughout the Santa Clarita Valley.
SCV Deputies Check Probationers, Aid in Domestic Violence Call
Here is the Santa Clarita Valley Sheriff Station's public safety report for Canyon Country (West), aka Zone 7, for October 2 through October 8, 2017
Crime Blotter: Robbery, Grand Theft in Canyon Country West
A suspect has been arrested in the investigation of an alleged sexual assault, according to Santa Clarita Valley Sheriff's Station officials.
Suspect Arrested in Alleged Sexual Assault
Motor vehicle collisions are the leading cause of death for teens in the United States and a concern the California Highway Patrol addresses with its "Start Smart" program.
CHP Helps New Drivers with ‘Start Smart’ Classes
The California High-Speed Rail Authority punted one of the most important decisions during its monthly meeting Thursday, stoking concerns the entity is not moving quickly enough on the $64 billion project.
California’s Bullet Train Board Delays Award of Key Contract
An extensive investigation by the county of Los Angeles Department of Consumer and Business Affairs in conjunction with the office of California Attorney General Xavier Becerra has resulted in a lawsuit announced today by the Attorney General against retailer Curacao.
AG Sues Retailer Curacao for Allegedly Preying on Consumers
1873 - Santa Barbara lawyers Charles Fernald and J.T. Richards purchase Rancho San Francisco for $33,000 (75 cents an acre) in a sheriff's sale [story]
CHESTERFIELD, MO — NewGround, a St. Louis-based experiential design-build firm, recently teamed up with Logix Federal Credit Union to work on a large scale facility project, a new corporate headquarters building for the full-service credit union in the Burbank, California area.
Valencia Will Soon be Home to Logix Federal Credit Union Headquarters
The CSUN women's volleyball team (10-9, 4-3 Big West) opens the second half of the Big West season this week as the Matadors head up the coast this week for road tests at No. 23 Cal Poly (17-2, 7-0 Big West) and UC Santa Barbara (4-15, 3-4 Big West). CSUN, coming off a tough five-set loss to Hawai'i at home, is 3-4 in seven road matches this season but has won two of three Big West road contests.
Matadors Volleyball Testing Their Skills on the Road
No. 5 College of the Canyons defeated L.A. Mission College 3-0 on Wednesday to earn its eighth consecutive match and fifth straight sweep. Set scores were 25-15, 25-11, and 25-20.
Cougars Volleyball Earns Fifth Straight Sweep
CSUN Women's Soccer (7-4-5, 3-1-1 BWC) looks to move up in the Big West standings this week as it hosts UC Irvine on Thursday at 7:00 p.m.
Matadors Get Ready for Big West Matchups
Behind Julio Rubio's goal in the 11th minute CSUN defeated UC Riverside 1-0 in Big West Conference men's soccer action Wednesday night.
Matadors’ Lone Goal Enough to Hold Off UC Riverside
Northridge, CA – CSUN Athletics officially opened its new satellite athletic training facility on Thursday at an event featuring Athletic Director Dr. Brandon Martin, Assistant Athletic Director for Sports Medicine/Head Athletic Trainer Steven Grech, student-athletes, coaches, staff and campus partners.
Matadors Student-Athletes Welcome New Training Facility
Want unique gifts and a shopping experience unlike any other?
Nov. 18-19: City’s Annual Two-Day Fine Craft Show
City officials gathered Wednesday for the Grand Opening of "Three Oaks," the first 100 percent affordable family development in Santa Clarita.
Affordable Housing Comes to Santa Clarita
The Gibbon Conservation Center will celebrate Halloween for the first time on Saturday, Oct. 28 from 10:00 a.m. - 1:00 p.m.
Oct. 28: Gibbon Conservation Center Celebrates First Halloween
California State University, Northridge is partnering with the California State University Entertainment Alliance to host a morning of workshops designed to offer students and members of the public advice on building successful careers in the entertainment industry.
Oct. 23: CSUN Workshop; Succeeding in Entertainment Industry
Spotlight Arts Center, a local non-profit that provides free performing and visual arts classes to children in the Santa Clarita Valley, will hold its Fall Festival, Sunday, Oct. 22 from 11:00 a.m. - 3:00 p.m.
Oct. 22: Fall Festival Spotlight Arts Center
The College of the Canyons Athletics department is inviting all players, coaches and cheerleaders associated with a Santa Clarita Valley youth sports league or cheer organization to attend Saturday's Cougar football game free of charge.
Oct. 21: SCV Youth Teams Invited to Free COC Football Game
College of the Canyons freshmen Joanna Roecker and Cassandra Lee both turned in scores of 79 to lead the Cougars to a second place team finish at the Western State Conference (WSC) event hosted by Glendale College at Brookside Golf Course on Monday.
COC Falls Short at WSC Glendale
Beginning Monday, October 23, 2017, the city of Santa Clarita will increase the frequency of street sweeping throughout all areas of the City.
Oct. 23: City Begins Increased Street Sweeping Frequency
In a battle for Western State Conference, East Division supremacy, it was College of the Canyons that came out on top Tuesday night, as the Cougars scored two second half goals to secure a 2-0 win against visiting Antelope Valley College. Justine Hoeft and Jennifer Roney collected goals for the Cougars (11-2, 2-0).
COC Secures Win Against AVC With Two Second-Half Goals
The upcoming 10-year anniversary of the Buckweed Fires offers Santa Clarita residents a reminder of the ever-present fire danger in Los Angeles County, as blazes ravage the northern half of the state, as well.
Officials Reflect on 10-Year Anniversary of Buckweed Fires