header image

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

Inside
Weather
Santa Clarita CA
Cloudy
Cloudy
84°F
 
Calendar
Today in
S.C.V. History
September 23
1948 - Agua Dulce Women's Club organized [timeline]
Women's Club


Home sales throughout the Santa Clarita Valley soared 9.9 percent during 2015.

The a Santa Clarita Realtors negotiated $1.7 billion in home and condominium sales for buyers and sellers last year, not including the millions of dollars in benefit to the local economy from added transactions, such as sales of furniture, appliances, landscaping and home repair and remodeling.

After two years of annual declines, the 2,451 homes that closed escrow during 2015 was the highest annual tally since 2006, when 2,531 homes changed owners. The record high came in 2004 with 3,869 home sales.

Local realtors also closed escrow on 1,104 condominiums, up 8.4 percent over 2014.

Prior to 2014, which saw a 19.8 percent decline in condo transactions, condo sales had been posting positive numbers since 2009. The record high annual condominium sales total of 1,852 was set in 2003.

“2015 was a good year and I expect to see the Santa Clarita market gaining slightly more momentum in 2016,” said M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors. “We will see a more deliberate, yet steady increase in sales and prices in 2016. “Even if interest rates rise slightly, sales will be strong and price increases likely will outpace inflation,” he said, “Barring an unexpected economic or global event, the recent increase in interest rates, which remain near historic lows, will not diminish the market.”

Vincent and Jim Link, SRAR’s chief executive officer, said they expect to see a busy spring for local home sales and that any increase in sales or prices for 2016 will stay in low single-digit territory, especially as affordability issues counteract the upward pressure on prices due to the region’s limited inventory of properties listed for sale.

“Resale prices have risen fast enough and high enough that the pool of prospective buyers who can make payments and pay property taxes continues to shrink,” said Link.

“The market needs more active listings, but that’s not likely to happen unless there is a recession, which appears unlikely at this juncture.

“This market appears to be the new normal,” said Link .

The annual median price of all single-family homes sold during 2015 was $510,542, up 8.1 percent over 2014. The annual median price has been rising steadily since 2012, with 2013 and 2014 reporting double-digit increases. The record high home annual median price of $603,492 was set in 2006.

Similarly, the condominium annual median price of $314,500 was up 12.9 percent over 2014. Last year marked the fourth consecutive year the condo annual median increased, with a 33.8 percent jump in 2013. The condo annual record high of $380,583 was established in 2006.

December saw home and condo sales increase, up 4.8 percent and 22.2 percent over the prior December, respectively. There were a total of 450 active listings at the end of the month, down 11.9 from a year ago. That represents a 1.3-month supply at the current pace of sales; a 6-month supply is desired.

Distressed sales throughout Santa Clarita played a minor role in the 2015 market. Of the 337 combined residential sales, 2.1 percent were foreclosure related; 4.2 percent were short sales; while standards sales captured 88.7 percent of the market.

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
A “significant amount of smoke” from the Windy and KNP Complex fires northeast of Bakersfield in the Sequoia National Forest have entered the Los Angeles area, according to a Thursday morning tweet from the U.S. National Weather Service Los Angeles.
Hazy SCV Skies from Sequoia Forest Fires
Spookiness is on its way to Main Street in Old Town Newhall.
Scarecrow Alley Coming to Old Town Newhall
The Chiquita Canyon Landfill Technical Advisory Committee met Wednesday afternoon to discuss updates at the Val Verde landfill.
Chiquita Canyon Landfill Health Report Nearing Final Process
Following a record-breaking event in 2020 – Soup for the Soul will once again be presented virtually in 2021.
Tickets Now on Sale for Bridge to Home’s 2021 Soup for the Soul Virtual Fundraiser
The city of Santa Clarita’s annual Evening of Remembrance event will occur on Wednesday, Sept. 29, beginning with a Walk of Remembrance at 6:15 p.m., followed by the program at 6:45 p.m.
Community Invited to Annual Evening of Remembrance
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.
Cougars Football Continuing with Community Invite Tradition
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.
Oct. 2: American Cancer Society’s Relay for Life
At least one person was reported wounded in a shooting in Newhall Wednesday night, prompting a response from law enforcement and medical personnel.
Newhall Shooting Sends One Person to Hospital
Are you ready for a “Partea”? Circle of Hope’s 17th Annual Tea Celebration will be held at the Hyatt Regency Valencia on Saturday, Oct. 9, beginning at 11:00 a.m.
Oct. 9: Circle of Hope’s 17th Annual Tea Celebration
SACRAMENTO — State Superintendent of Public Instruction Tony Thurmond proudly recognized Betty Reid Soskin, a pioneering Bay Area civil rights activist and the oldest living National Park Ranger serving in the United States, as an Ambassador to California Education on her 100th birthday.
Betty Reid Soskin Named California’s Newest Education Ambassador
The Mojave Area California State Parks  recently announced status updates for public use.
Status Updates Released for Mojave Area State Parks
1948 - Agua Dulce Women's Club organized [timeline]
Women's Club
The Santa Clarita Planning Commission approved the installation and operation of a Verizon wireless communication facility that will expand wireless coverage in the city’s center. 
Verizon Wireless Facility Approved By Planning Commission
State Senator Scott Wilk is honoring four Hispanic community leaders to commemorate National Hispanic Heritage Month. 
Wilk Honors Local Hispanic Community Leaders
Los Angeles County Public Health officials on Wednesday confirmed 41 new deaths and 1,750 new cases of COVID-19 countywide, with 35,403 total cases in the Santa Clarita Valley.
Wednesday COVID-19 Roundup: Nursing Facility Numbers See Decline; Santa Clarita Cases total: 35,403
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.
COC’s Virtual Green STEM Summit Slated For October
The Angeles National Forest will end its forest closure order Wednesday at 11:59 pm, a week past the expiration of the California regional closure.
Angeles National Forest Ending Closure Order
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
State Superintendent Seeks To Increase Literacy By Third Grade For All California Students
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.
Pets Get A Second Chance With New Rehoming Program
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. 
Santa Clarita Population Has Grown Over 50,000 In Ten Years
A federal court handed international mining conglomerate Cemex a win last week in its decades-long battle to establish a mining operation in Soledad Canyon.    
Court Rules In Favor Of Cemex Over Bureau Of Land Management
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. 
Community Gets Ready For Relay For Life With Local Relay Rally
1923 - Newhall Chamber of Commerce organizes community cleanup day [story]
cleanup day
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.
Tuesday COVID-19 Roundup: Officials Confirm 167th Death at Henry Mayo; 35,326 Total SCV Cases
SCVNews.com
%d bloggers like this: