August was the hottest month so far this year for new-home sales, the Building Industry Association’s Los Angeles-Ventura Chapter reported Thursday.
Throughout Los Angeles County, 281 newly built homes closed escrow in August, up 24.9 percent from July’s revised figure of 225. But August closings slipped 17.8 percent from 342 in August 2010.
Prices across the county were weaker both month-to-month and year-over-year. Median new-home sale prices fell 5.8 percent to $362,500 countywide in August from $385,000 in July and were off a significant 21.9 percent from the August 2010 median price of $464,250.
In the Santa Clarita Valley, August 2011 proved better on both the month and the year as 27 new homes closed escrow compared to only 15 in July and 23 a year earlier.
SCV new-home prices slipped 10.7 percent in August to $457,000 from July’s $512,000 but were 8.4 percent better than last year’s median price of $421,500.
BIA chapter CEO Holly Schroeder welcomed the monthly volume increase but described overall sales as anemic.
“The ongoing weakness in new-home construction is a major reason why the regional and state economies have not shown the kind of strong growth we typically see after a recession,” she said. “We are continuing to work closely with city and county officials to demonstrate the need to reduce fees and provide incentives for builders to begin construction on more new homes, condos and apartments.”
In the home resale market for the same period, volume was up on the year but prices were down. The Southland Regional Association of Realtors reported last month that 19.4 more previously owned homes changed hands in August 2011 than in August 2010, but the median price fell 10.2 percent over the year to $372,500.
The California Department of Transportation has scheduled full freeway closures on the northbound and southbound State Rout 14 / Antelope Valley Freeway between Technology Drive in Palmdale and Avenue A in Lancaster.
On Saturday, the Los Angeles County Sheriff's Department celebrated 78 young men and women who completed a 14-week “Scouts of America - Learning for life,” Certified Sheriff’s Explorer Academy at S.T.A.R.S. Center in Whittier.
Raising the Curtain Foundation, through their Grand Ovation program, honored Jim Sudik and Paco Vela on Thursday, June 1 by naming the dressing rooms at the Newhall Family Theatre for the Performing Arts after the duo.
By now you have no doubt heard about the waste hauler transition coming to the city of Santa Clarita. Beginning July 1, all residents in our city will begin the process of switching over to Burrtec Waste Industries for their trash service.
California State Assemblywoman Pilar Schiavo (D-Chatsworth) successfully passed eight bills off the Assembly Floor, bringing her total number of bills now in the Senate to 11. Notably, more than half of her bills received bipartisan support.
In collaboration with the Saugus Unified School District, the city of Santa Clarita is excited to announce playground construction plans for Northbridge Park. The project aims to provide recreational space for Charles Helmers Elementary School students and the surrounding Northbridge community. Construction is scheduled to begin this summer.
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