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

Inside
Weather
Santa Clarita CA
Mostly cloudy
Mostly cloudy
46°F
 
Calendar
Today in
S.C.V. History
December 12
1891 - Actor Buck Jones, a Placerita and Vasquez "regular," born in Indiana [story]


Santa Clarita Valley condominiums that changed owners during April 2018 yielded a median price of $410,000, which set a record high and for the first time broke the $400,000 benchmark, the Southland Regional Association of Realtors reported Monday.

The median was up 12.3 percent from a year ago and 6.5 percent higher than the March median price. The median price has posted increases nearly every month since hitting bottom at $170,000 in July 2012. The prior record high $397,000 posted in January 2006.

“Until this condo record, prices and sales in the Santa Clarita Valley have been hovering below records set during the boom of last decade,” said M. Dean Vincent, chairman of the Santa Clarita Valley Division of the 10,300-member Southland Regional Association of Realtors.

“Prices moving higher reflect the reality of what happens when too many prospective buyers are chasing too few properties listed for sale,” Vincent said.

The median price of single-family homes that changed owners during April came in at $588,000, up 5.9 percent from a year ago, yet 8.6 percent below the record home high of $643,000 posted in April 2006.

The Association reported 477 active listings at the end of April. That was down 0.4 percent from a year ago and represented a 1.7-month supply at the current pace of sales. With the exception of only this February, every month since February 2017 has been below the benchmark of a 2.0-month inventory. For perspective, the 10-year average is a 4.3-month supply.

“Despite high prices and the lack of inventory, properties continue to sell,” said Tim Johnson, the Association’s chief executive officer. “That in itself is not surprising, yet I suspect that people unfamiliar with the local residential real estate market may not fully appreciate the complexity of each sale and how hard and fast Realtors and all parties must work to get to the finish line.

“Local escrows are closing on average in about 30 days, which is remarkably fast,” Johnson said. “Some folks think that offers from multiple buyers and a fast sale make a transaction simple, easy. It’s often the opposite — today’s warp speeds and fast escrows test the skills of even the most seasoned Realtor.”

Realtors assisted 191 single-family homes that close escrow last month. That was off 0.5 percent from a year ago.

There were 95 condominiums sold last month, up 17.3 percent from a year ago. Both are well below their record highs: April homes sales were off 52.8 percent from the record high of 405 closed escrows set in June 2005; and condo sale 53.4 percent below the condo high of 204 set in April 2003.

The Southland Regional Association of REALTORS is a local trade association with more than 10,300 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


Latest Additions to SCVNews.com
1891 - Actor Buck Jones, a Placerita and Vasquez "regular," born in Indiana [story]
After a new threat was discovered on the California State University, Northridge, campus, CSUN President Dianne F. Harrison, Ph.D., released a statement regarding final exams scheduled for Dec. 12.
CSUN Instructs Faculty to Provide Alternate Exam Format After New Threat
LANCASTER – The University of Antelope Valley Pioneers (2-8) earned their second victory in as many contests, defeating the Flames of Bethesda University of California (1-8), 110-65, Monday, in intercollegiate men’s basketball action at the Pioneer Event Center.
Pioneers Roll Past Bethesda
Join the Valley Industry Association (VIA) as they review and close the 2018 year and formally install the 2019 Valley Industry Association Board of Directors.
Dec. 18: VIA 2019 Board of Directors Installation
1922 - Piru bank robbed, banker and daughter kidnapped [story]
The county of Los Angeles officially filed a comment on Monday in opposition to the U.S. Department of Homeland Security and the Citizenship and Immigration Services’ proposed “public charge” rule change.
LA County Opposes Feds’ Proposed ‘Public Charge’ Rule Change
The next regular-organizational meeting of the Governing Board of the William S. Hart Union High School District is set for Wednesday, Dec. 12, at the Administrative Center, 21380 Centre Pointe Parkway, Santa Clarita 91350.
Dec. 12: Hart District Governing Board Regular Meeting
The rhetoric of playing a full 40 minutes can easily overshadow the reality of a college team's effort.
Lady Mustangs Defend Their Way to Win Over Hawks
All things considered, the Mustangs could have found themselves in a worse position in the closing moments of Saturday's game in El Cajon.
No. 2 Mustangs Fall to San Diego Christian on Atencia’s Big Night
The University of Antelope Valley Pioneers (1-8; 1-0 Cal Pac) earned their initial win of the season with a 76-61 victory over the Golden Eagles of La Sierra University (2-8; 0-1 Cal Pac) on Saturday.
UAV Men’s Basketball Team Downs La Sierra 76-61 in Opener
The University of Antelope Valley Pioneers women's basketball team (8-2; 1-0 Cal Pac) routed the La Sierra University (3-9; 0-1 Cal Pac) Golden Eagles 106-46 in Saturday's intercollegiate California Pacific Conference women’s basketball action in Riverside.
UAV Women’s Basketball Team Routs La Sierra 106-46
The WiSH Education Foundation ends 2018 on a high note, having supported local public schools with more than $235,000.
WiSH Foundation 2018 Donations to SCV Schools Top $235K
The University of Antelope Valley is pleased to announce the hiring of Anthony Harris as its Director of Athletics.
Anthony Harris is New Athletics Director at UAV
The city of Santa Clarita will partner with the American Red Cross to provide a community blood drive at The Centre on Thursday, Dec. 13, from 9 a.m. to 3 p.m.
Dec. 13: City, Red Cross to Host Blood Drive at The Centre
Senator Scott Wilk, R-Santa Clarita, introduced Senate Bill 53 (SB 53), legislation that will strengthen transparency in state agencies and stop agencies like the California High-Speed Rail Authority from taking advantage of a loophole that allows them to hold closed-door meetings without public involvement.
Wilk Intro’s Bill to Boost Transparency in High-Speed Rail, Other Agencies
Texas-born, Canyon Country-based blues singer-keyboardist Teresa James and her band The Rhythm Tramps have earned their first Grammy nomination in the Best Contemporary Blues Album category for their 10th and latest album, "Here in Babylon."
Canyon Country’s Teresa James Lands Grammy Nomination
Deputies from the Santa Clarita Valley Sheriff's Station arrested a couple from Palmdale and a Simi Valley man on drug charges in the Park and Ride lot at Golden Valley Road off Highway 14 on Sunday, according to officials.
Deputies Arrest 3 on Drug Charges at GV Park and Ride Lot
The city of Santa Clarita has updated the list of productions shooting in the city and the Santa Clarita Valley for the week of Dec. 10-16, 2018.
‘GLOW,’ ‘Seal Team,’ ‘Killer Contractor’ Now Filming in SCV
Law enforcement and Coroner's officials discovered more human remains Saturday morning in the Santa Clara River bed in Newhall, near where a human skull was discovered Wednesday.
LASD, Coroner Investigating Human Skull, Remains Found in Newhall
The Los Angeles County Health Officer has issued a cold weather alert for the Antelope Valley due to the National Weather Service’s forecast for low temperatures Tuesday through Friday.
AV Cold Weather Alert Called for Tuesday to Friday
Several CalArtians are among the nominees announced Friday for the 61st Annual Grammy Awards to be handed out Feb. 10.
CalArtians Score Music, Tech, Graphics Grammy Nominations
Several CalArtians have been nominated for the 46th annual Annie Awards, which honor achievement in the art of animation.
CalArtians Nominated for 46th Annual Annie Awards
CalArts faculty and students are among the 2018 Arts Writers Grant Program recipients from the Andy Warhol Foundation for the Visual Arts.
CalArts Faculty, Students Win Writers Grants from Warhol Foundation
1941 - Three days after Pearl Harbor attack, 165th and 185th Infantry Regiments assigned to Saugus; Edison power substation guarded 24/7 [timeline]
1983 - U.S. release of John Carpenter's "Christine;" blew up fake gas station in Valencia [watch scene (R)]
1941 - Julius Dietzmann family of Castaic arrested as German enemy aliens [story]
Valencia-based H2scan has announced the Gen 5 System, a first of its kind hydrogen sensor package to help utilities monitor and protect their distribution transformers.
Valencia’s H2scan Unveils New Transformer Monitoring System
CalArts graduates are among the nominees for Golden Globe Awards the Hollywood Foreign Press Association announced on Monday, recognizing excellence in domestic and foreign film and television.
CalArtians ‘Glow’ in 76th Golden Globes Nominations
The California Department of Education and the State Board of Education have launched the second version of the California School Dashboard, a website that gives parents, students and educators access to valuable school and district data.
State Launches 2018 School Dashboard; Hart Schools Score Well
The TMU Mustangs played a dominant defensive effort Thursday, holding Hope International scoreless in the third quarter of what became a 76-47 win.
TMU Women’s Basketball Team Nets Win Over Hope Int’l
The nonprofit Friends of Hart Park, in cooperation with the Los Angeles County Department of Parks and Recreation, will present the 7th Annual Hart Holiday Boutique & Craft Fair at Hart Park on Saturday and Sunday, Dec. 8-9, from 10 a.m. to 4 p.m. each day.
Dec. 8-9: Holiday Boutique, Craft Fair at Hart Park
The Los Angeles County Board of Supervisors will hear comments from the public about the proposed Centennial Specific Plan Project at their next meeting on Tuesday, Dec. 11, starting at 9:30 a.m.
Dec. 11: Supes May OK Centennial at Tejon Ranch Development
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, Dec. 11, starting at 9:30 a.m.
Dec. 11: LA County Board of Supervisors Meeting
Castaic School Board members held their Annual Organizational Meeting on Dec. 6, and elected officers and representatives of the Board for 2019.
Castaic School Board Elects Officers, Reps for 2019
Los Angeles County District Attorney Jackie Lacey announced Friday that Amazon.com Inc. has agreed not to sell force-fed foie gras in California under a consumer protection settlement reached with her office and the Monterey County and Santa Clara County district attorney’s offices.
DA’s, Amazon Settle Force-Fed Foie Gras Online Sales Case