header image

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

Inside
Weather


 
Calendar
Today in
S.C.V. History
January 21
1914 - Signal newspaper owner-editor Scott Newhall born in San Francisco [story]
Scott Newhall


Realtors helped close escrow on 123 single-family home sales throughout the Santa Clarita Valley during January.

That total was up 8.8 percent over a year ago, though down 37.9 percent, which follows typical seasonal patterns.

It was the highest tally for the month of January since 2014 though well below the peak since the economic recovery began of 265 sales posted in June. The 123 sales also were 69.6 percent below the record high of 405 sales set June 2005.

A total of 69 condominiums changed owners during January, up 25.5 percent over a year ago, but down 17.9 percent from December. The high point since the Great Recession came in June with 127 closed escrows. January’s 69 sales were 66.2 percent below the record high of 204 sales in April 2003.

The median price of the homes sold during January was $560,000, up 5.7 percent from a year ago and 0.9 percent ahead of December. June’s median price of $575,000 was the highest median 10 years, though it was 12.9 percent below the record high of $643,000 established in April 2006.

The condo median price for January was $360,000, up 17.5 percent from January 2016 and 5.9 percent of December. September’s condo median of $372,000 was the high point so far in the recovery. This January’s median was 9.3 percent below the record high of $397,000 set in January 2006.

A total of 433 open escrows were on the MLS at the end of January, down 10.7 percent from a year ago. At the current pace of sales, that represents a 2.3-month supply compared to the 2.9-month inventory of January 2016. The annual average inventory peaked at an 11.2-month supply in 2007, then gradually fell as recovery took hold until bottoming out with an annual average of an 1.7-month supply in 2013. Since then the inventory hovered around a 2.5-month supply for 2014 and 2015 and in 2016 fell to an average 2.0-month inventory, which appears to be the new normal.

Distressed sales? What are those? There were zero condo-distressed sales and only two single-family home short sales along with one REO. Combined, distressed sales accounted for a mere 1.5 percent of the 192 total transactions.

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
1914 - Signal newspaper owner-editor Scott Newhall born in San Francisco [story]
Scott Newhall
District Attorney Nathan J. Hochman has announced the appointment of Michael Gennaco as Special Prosecutor who is among the nation’s foremost experts in civil rights and police misconduct cases.
DA Hires Special Prosecutor for Police Misconduct Cases
In response to the ongoing challenges posed by the Palisades and Eaton Fires, the county of Los Angeles Department of Animal Care and Control has mobilized its resources and partnerships to ensure the safety and well-being of the animals affected.
DACC Facilitates Adoption, Rescue Efforts in Response to Wildfires
The WiSH Education Foundation Wednesday Webinar series continues 5-6:30 p.m. Wednesday, Feb. 12 with "College Admissions for Visual and Performing Arts Majors."
Feb. 12: WiSH Webinar on ‘College Admissions for Visual, Performing Arts Majors’
The regular meeting of the Saugus Union School District Governing Board will take place Tuesday, Jan. 21 beginning at 6:30 p.m.
Jan. 21: SUSD Governing Board Regular Meeting
A Better World Running will host the Cupid Dash 5k, 10k, 15k, Half Marathon 7:30 a.m. Sunday, Feb. 16 at West Creek Park 24247 Village Circle Drive, Valencia, CA 91354.
Feb. 16: Cupid Dash 5k, 10k, 15k, Half Marathon
The Los Angeles County Department of Military & Veterans Affairs will resume normal operations at Bob Hope Patriotic Hall (1816 S. Figueroa St., Los Angeles, California, 90015) on Tuesday, Jan. 21.
Jan. 21: Normal Operations Resume at Bob Hope Patriotic Hall
The Los Angeles County Department of Public Health is issuing a windblown dust and ash advisory following strong Santa Ana winds expected to affect the region through Tuesday, Jan. 21 at 10 p.m.
L.A. Public Health Windblown Dust, Ash Advisory
The Master's University men's basketball defense stepped up in the final moments of the game to get an 80-72 conference road win over Benedictine Mesa Thursday night, Jan. 16.
Defense Stepped Up in Mustangs Win over BenU
Three different players each scored 17 points and the team shot nearly 50 percent from the field as The Master's University women's basketball team defeated Benedictine Mesa 83-71 Thursday night, Jan. 16 in Mesa, Ariz.
TMU Women’s Hoops Gets Road Win over Redhawks
College of the Canyons men's basketball had four players reach double-digits but it wasn't enough to keep pace with No. 5 state-ranked Citrus College in a 111-77 road affair Wednesday night, Jan. 15.
Canyons Can’t Get Past No. 5 Citrus College
College of the Canyons women's basketball is still looking for its first conference victory after its 75-54 road loss at Citrus College on Wednesday, Jan. 15.
Ceja, Saridin Shine, Cougars Fall at Citrus
Ahead of another forecasted Particularly Dangerous Situation Red Flag warning and extreme fire weather, Los Angeles County is asking the public to prepare.
County Warns: Dangerous Santa Ana Winds, Extreme Fire Weather
1993 - Hart High grad Dee Dee Myers (1979) becomes first female White House press secretary [story]
Dee Dee Myers
1967 - Original airing of Star Trek "Arena" Episode: Kirk battles the Gorn commander (Saugus resident Bobby Clark) at Vasquez Rocks [watch]
Kirk vs. Gorn commander
1899 - Martin & Richard Wood buy J.H. Tolfree's Saugus Eating House (still inside Saugus Depot), rename it Saugus Cafe [story]
Saugus Cafe
Fritz Coleman’s show "Unassisted Living," in Residency at the El Oortal Monroe Forum in North Hollywood, will be performed on Sunday, Jan. 26 t0 benefit the California Community Foundation Wildlife Recovery Fund with 100% of all profits raised donated to the fund.
Jan. 26: Fritz Coleman’s ‘Unassisted Living’ to Benefit Wildfire Recovery Fund
The Santa Clarita Community College District Board of Trustees will hold a business meeting Wednesday, Jan. 22, beginning at 5 p.m. The board will first meet in closed session at 3 p.m.
Jan. 22: COC Board Business Meeting
The Los Angeles County Sheriff’s Department Homicide Bureau continues its dedicated efforts to locate individuals reported missing following the devastating Eaton and Palisades fires.
LASD Reports 17 Still Missing in L.A. Area Wildfires
The Canyon Theatre Guild opens the Broadway musical, "West Side Story" on Saturday, Jan. 18 on stage at the community theater in Old Town Newhall.
‘West Side Story’ Opens at the Canyon Theatre Guild
The William S. Hart Union High School District Governing Board has unanimously approved the appointment of Jordan Meraz as the new Director of Technology Services.
Jordan Meraz Named Hart Director of Technology Services
The American Red Cross is offering financial assistance for families whose homes were damaged or destroyed by Los Angeles County wildfires. Assistance available to those affected by Eaton, Palisades, Hurst and Kenneth fires.
Red Cross Offers Financial Assistance to Fire Victims
Cal Fire and the Los Angeles County Fire Department have reported that containment efforts continue for all three activie fires still burning in Southern California.
Repopulation Efforts in Eaton, Palisades Fire Areas, 27 Fire Deaths Reported
SCVNews.com