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
March 19
1875, 1:35PM - Outlaw Tiburcio Vasquez hanged in San Jose [story]
Tiburcio Vasquez


Even with home prices at the highest level in nine years, sales of single-family homes during May throughout the Santa Clarita Valley increased 26.0 percent, the Southland Regional Association of Realtors reported Wednesday.

The 252 single-family homes that changed owners last month also were 18.9 percent higher than this April’s tally. That was three sales shy of the high point since the recession of 255 closed escrows reported in June 2015, a number not surpassed since
October 2005.

“Real estate is strong here in Santa Clarita,” said M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors. “There are 10 or 15 people coming through the door of every listing eager and ready to buy. If you’re an owner whose property is not selling, something is wrong or the list price is too high.”

Vincent said Santa Clarita is a regionwide draw because “the quality of life here cannot be touched elsewhere for the same price.”

The median price of homes sold last month was $550,000, up 3.8 percent over a year ago and 2.2 percent ahead of this April. The May median price was the highest since October 2007, though still short of the $643,000 record high median price posted in April 2006.

Similarly, the condominium median price of $349,500 was up 11.0 percent over a year ago and less than 1 percent higher than this May. However, it was the highest condo median price since September 2007. The record high of $397,000 came in January 2006.

“Santa Clarita is one of the pockets throughout California that outperform surrounding regions,” said Jim Link, the Association’s chief executive officer. “The schools are a draw and buyers get more house and property for their money.”

Open escrows — a measure of future resale activity — were up 7.8 percent over a year ago to a total of 402 pending transactions. Like many other regions, however, Santa Clarita also has a limited inventory of homes listed for sale. There were 506 homes and condominiums available on the Association operated Multiple Listing Service at the end of May. That was down 20.1 percent from a year ago.

At the current pace of sales, those 506 listings represent a 1.4-month supply, down from a 2.0-month inventory of May 2015. In earlier markets a supply of 6 months was considered normal, yet with people staying in homes longer, local buyers would rejoice if they had access to a 3-month inventory.

Distressed sales, once a mainstay of the market and source of ready listings, continue to fall off the chart. Realtors assisted a total of 16 distressed sales last month — six foreclosure-related transactions for a 1.7 percent market share and 10 short sales or 2.8 percent of the total combined residential sales total. Standard sales, involving traditional buyers and sellers, accounted for 337 transactions or 95.5 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
1875, 1:35PM - Outlaw Tiburcio Vasquez hanged in San Jose [story]
Tiburcio Vasquez
College of the Canyons notched its first victory at the newly named Mike Gillespie Field on Saturday, winning its second straight conference series, this time over visiting Bakersfield College, by a 6-4 final score. 
Cougars Notch First Win at Mike Gillespie Field
MIAMI GARDENS, Fla. -- The Master's University hit 20 3-pointers, one shy of the program record in a game, to defeat the St. Thomas Bobcats 122-91 in the second round of the National Association of Intercollegiate Athletics Men's Basketball National Championship tournament.
Mustangs Advance to NAIA Sweet 16
The Master's University baseball team lost a pair of 1-run games Saturday against the Menlo Oaks in Atherton, Calif.
Mustangs Drop Three Games to Menlo
The Los Angeles County Development Authority is excited to announce that its executive director, Emilio Salas, has been appointed to a two-year term to serve as a member of the national Strategic Planning Advisory Committee for the National Association of Housing and Redevelopment Officials (NAHRO).
LACDA’s Emilio Salas Appointed to National Planning Advisory Committee
The 28th Annual Santa Clarita Cowboy Festival is back with your favorite musical performers and an exciting lineup of new acts.
Santa Clarita Cowboy Festival Live Music Performers Announced
REDLANDS — College of the Canyons track and field recorded a dozen top-10 finishes and established 30 new personal records while competing at the University of Redlands Invitational on March 15. 
Cougars Earn Top-10 Finishes at Redlands Invitational
There is so much to learn from different customs and cultures and you don’t need a plane ticket to experience it all.
City’s 2024 ‘Celebrate’ Lineup Released
Big Chicken, the star-powered fast casual chicken concept, which has a location in Santa Clarita, is fueling the mania for the Big Tournament with a nationwide Big Bracket Challenge.
Compete for Chance to Open Shaquille O’Neal Chicken Restaurant
California State University, Northridge’s Spring 2024 Cinematheque series will pay tribute to Hollywood casting director and producer Deborah Aquila, executive vice president and head of casting at Paramount Television Studios and CBS Studios, to mark the end of Women’s History Month on Wednesday, March 27.
Legendary Casting Director Deborah Aquila to Speak at CSUN
On Friday, March 22, the Uniquely Abled Academy (UAA) at College of the Canyons will host a graduation ceremony for nine students who have completed the UAA’s pilot robotics training program.
March 22: COC’s Uniquely Abled Academy Robotics Graduation
The Los Angeles County Department of Parks and Recreation is excited to announce spring has sprung at its local parks, including those in the Santa Clarita Valley.
L.A. County Parks Releases Spring Jubilee Dates
The city of Santa Clarita’s Film Office released the list of six productions currently filming in the Santa Clarita Valley for the week of Monday, March 18 - Sunday, March 24.
‘Bosch Legacy,’ ‘CSI Vegas’ Among Six Productions Filming in SCV
Unlike our children who enjoy a week-long spring break, we adults no longer have that luxury.
Ken Striplin | Register Now for Spring Break Camp 2024
The Los Angeles County Department of Public Health cautions residents who are planning to visit the following Los Angeles County beaches to avoid swimming, surfing and playing in ocean waters due to bacterial levels exceeding health standards when last tested.
Ocean Water Advisory Continues for L.A. County Beaches
The California Department of Motor Vehicles now offers a faster way for businesses to check that their employees have clean driving records using the new online Employee Pull Notice (EPN) Service.
DMV Launches Enhanced Digital Employer Pull Notice Service
1919 - Fire destroys abandoned second Southern Hotel, built 1878 in Newhall (corner Main & Market) [story]
Second Southern Hotel
1927 - Newhall telephone exchange, est. 1900, now serves 100 phones [story]
telephone
2003 - Lifesize sculpture honoring heroes of St. Francis Dam disaster unveiled in Santa Paula [video]
The Warning
In the first of three matches on consecutive nights in Arizona, The Master's men's volleyball team defeated Benedictine-Mesa in three sets 27-25, 28-26, 25-19.
TMU Men’s Volleyball Sweeps Benu in Arizona
Greg Herrick, the former longtime College of the Canyons women's basketball head coach who recorded 611 career wins while winning 16 conference titles, was inducted into the California Community College Women's Basketball Coaches Association (CCCWBCA) Hall of Fame during the organization's annual Banquet of Champions at Mt. San Antonio College on March 13.
Longtime COC Women’s Basketball Coach Herrick Enshrined in Hall of Fame
The Santa Clarita Planning Commission will hold its regular meeting Tuesday, March 19, at 6 p.m. in City Council Chambers City Hall, 23920 Valencia Blvd. 1st Floor, Santa Clarita, CA 91355.
March 19: Planning Commission to Discuss Wiley Canyon Mixed Use Project
Attend the city of Santa Clarita's most unique egg hunt, the Splash N’ Dash at the Santa Clarita Aquatics Center, presented by Kaiser Permanente.
March 30: Dive into Spring at Splash n’ Dash Egg Hunt
String orchestras and concert bands from around the Santa Clarita Valley and Southern California will participate in the Southern California School Band & Orchestra Association concert festival hosted by West Ranch High School on Tuesday, March 26 and Wednesday, March 27, 10 a.m.-9:30 p.m.
March 26-27: SoCal School Band, Orchestra Concert Festival
SCVNews.com