Home and condominium sales fell during September even as the inventory of properties listed for sale increased to its highest level since August 2014, the Santa Clarita Valley Division of the Southland Regional Association of Realtors reported Wednesday.

A total of 162 single-family homes changed owners in September, down 25.3 percent from the prior year. It was the lowest tally for the month on record.

Realtors also assisted 64 condominium transactions with the total down 33.3 percent from September 2017.

“What we reported last month remained true throughout September — the market is changing, it’s in transition,” said M. Dean Vincent, chairman of SRAR’s SCV division. “An increase in the number of active listings combined with prices that fewer and fewer buyers can afford, give the remaining buyers more bargaining tools. We’re still a long way from a buyers’ market, but anything that eases upward pressure on prices is welcome.”

The Association reported 709 active home and condominium listings at the end of September, an increase of 31.8 percent from a year ago. It was the fourth consecutive monthly increase in the inventory, which comes on the heels of a virtually uninterrupted monthly decline in listings that started in February 2016 and continued through this May with only two months during the period in positive numbers.

At the September pace of sales, the inventory represented a 3.1-month supply, which is the highest since January 2015.

“Slowing down price appreciation and a rising inventory sound like good news,” said Tim Johnson, the Association’s chief executive officer. “While there is a measure of uncertainty hanging over the market’s long-term prospects, there are no major storm clouds on the horizon today and over the next three to six months there appear to be more opportunities than potential pitfalls for buyers and sellers alike.

“Buyers have more properties to chose from and more negotiating leverage,” he said, “while sellers can still receive a very favorable price for their home.”

The median price — where half the prices were higher and half were lower — of single-family homes was $599,900 during September. That was up 2.5 percent from a year ago yet 6.7 percent below the record high of $643,000 set in April 2006.

The condominium September median price was $385,000, which was up 6.9 percent from a year ago. That was 6.1 percent below the record high of $410,000 set this April.

With the exception of only two transactions, 98.8 percent of the 222 homes and condominiums that closed escrow during September were standard sales involving traditional buyers and sellers.

There were zero distressed sales of condominiums and only one foreclosure-related home sale and one home sold via short sale, where that lender agreed to a purchase price lower than the outstanding loan balance.

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.