Santa Clarita Valley home prices were flat in November as the resale price of the typical, previously owned home averaged $360,000 and the typical condominium sold for $197,000, according to Wednesday’s data from the Southland Regional Association of Realtors.
Home values haven’t moved appreciably over the last two years, languishing at what appears to be the bottom of a multi-year cycle. Prices moved steadily upward until 2005-06 and then started to tumble.
November’s single-family home price was $20,000 better than the year-ago price of $340,000 but off markedly from November 2010’s median price of $415,000.
Few sellers are willing to take their chances, and inventory is at a record low. Just 267 single-family homes were listed for sale in November versus 723 in November 2011, while 65 condos were listed versus 316 a year ago. There were 10 percent fewer listings just in the last month.
“The homes that closed escrow (in November) have been in the works for months, and the sales total does not fully reflect demand from buyers,” said Erika Kauzlarich-Bird, president of SRAR’s SCV Division.
One hundred sixty-seven single family homes closed escrow in November versus 198 in November 2011. A few more condos changed hands (78 versus 65 a year ago), but at slightly lower prices because of the preponderance of short sales. Sixty-one percent were short sales, where the bank agrees to a lower price than what’s owed on a defaulted loan.
SRAR CEO Jim Link noted that debt forgiveness on short sales expires on Dec. 31. Realtors are asking Congress to extend it.
“The local housing market is doing just fine and will continue to improve in 2013 if Congress does its job and avoids making drastic changes,” Link said in a statement. “Keeping the tax deductibility of interest on home loans and extending tax debt forgiveness in short sales are critically important if housing is to fully recover.”
College of the Canyons is continuing its tradition of inviting community groups to experience Cougar football during the 2021 season, with all healthcare workers and first responders invited to attend Saturday’s game vs. Palomar College free of charge.
The Santa Clarita chapter of the American Cancer Society is excited to announce its annual leading fundraiser of the year — Relay For Life - will take place on Saturday, Oct. 2, at the Westfield Town Center Mall, from 11:00 a.m. to 9:00 p.m.
College of the Canyons and the Santa Clarita Environmental Education Consortium, SCEEC, will virtually host the 2021 Green STEM Summit on Saturday, Oct. 9 with the purpose of introducing students to green careers.
State Superintendent of Public Instruction Tony Thurmond announced a vision for ensuring that every California student will learn to read by third grade by the year 2026 during a virtual press conference on Tuesday
In an effort to keep adopted pets from returning to the shelter, the Los Angeles County Department of Animal Care and Control has launched a free online resource center to help pet owners who can no longer keep their pets.
The population of the city of Santa Clarita grew by 22.9% between 2010 and 2020, according to U.S. Census data released Monday that will be used to redistrict boundaries for various political offices in California.
The American Cancer Society Santa Clarita Valley held a Relay Rally at Westfield Valencia Town Center Saturday afternoon to raise awareness about its annual Relay for Life of the Santa Clarita Valley event on Saturday, Oct. 2.
Los Angeles County Public Health officials on Tuesday confirmed 32 new deaths and 1,238 new cases of COVID-19 countywide, with 35,326 total cases in the Santa Clarita Valley. Additionally, Henry Mayo Newhall Hospital officials confirmed one new death bringing the total deaths since the pandemic began to 167.
The Rancho Camulos National Historic Landmark is hosting a series of special activities at “Last Sundays at the Landmark” with a special tribute in honor of Hispanic Heritage Month of the songs of Early California from the del Valle Family of Camulos, set for Sept. 26, from 1:00 p.m. to 4:00 p.m.
City of Santa Clarita Transit officials were forced to temporarily pause two trips on Monday after 20 employees, including bus drivers and call dispatchers, called out of work due to COVID-19-related reasons.
Both classified staff and teachers in the William S. Hart Union High School District voiced their displeasure with the ongoing negotiations regarding employee pay during Wednesday night’s governing board meeting, saying morale is low across the board for site staff.