Santa Clarita real estate market report -July update

Santa Clarita real estate market report is a new feature on my blog. Each month I will bring you statics about the real estate market in Santa Clarita. This is useful for you whether you are buying a house in Santa Clarita or whether you are selling a home in Santa Clarita or you just want to know the value of your home and follow the trends in the real estate market in Santa Clarita. To summarize this months pulse of the real estate in Santa Clarita: homes for sale in Santa Clarita do not stay very long on the market.

July real estate market trends in Santa Clarita

In the Santa Clarita Valley the home prices for existing homes sales remain solid.
Many home sellers are wondering how the rise in the interest rates will effect the Santa Clarita real estate market. There was no decline in the number of single family homes sold in July compared with the previous two months. It is too soon to tell what effect the rise in interest rates will have on the real estate market in Santa Clarita. The good news is that compared to last year home sales in Santa Clarita and home prices are up.The home prices in Santa Clarita are up by 23% from last year and the number of home sales in Santa Clarita are up by 5%.

More homes for sale in Santa Clarita

Today more sellers are putting their homes for sale in Santa Clarita than last year. This will help ease the apparently low supply of homes for sale. The current inventory is still at a dismal two months inventory. In a healthy real estate market one expects have a six months inventory.

Good news in Santa Clarita real estate market

The good news for Santa Clarita homeowners is that if you are thinking of selling Santa Clarita home is that the home does not stay very long on the market : 32 days in July versus 43 in June and in July 2012 the number was 63. It is clear that the real estate market in Santa Clarita is a sellers market.

Distressed properties in Santa Clarita

The number of distressed properties have declined since December of 2012. Currently distressed properties in Santa Clarita market represent 25% of the number of homes sold. Total homes sold in Santa Clarita in July 2013 was 327 of which 67 were short sales and 13 were bank owned properties. A year ago in July 2012 307 Santa Clarita homes were sold of which 131 were short sale and 58 were bank owned. This translates to 62% of the homes sold in Santa Clarita were distressed properties in July 2012.

Most real estate market experts agree that the fundamentals for the future of new homes sales in Santa Clarita are very strong.

July Santa Clarita real estate statistics

Santa Clarita real estate market by numbers. Last three months

Single family homes in Santa Clarita:

I will first give you the statistic of single family homes in Santa Clarita.
Active Listings:
May: 504 June: 499 July: 447

Median Days to sell;
May: 36 June: 43 July: 32

Median List price;
May: $450,000 June: 477,500 July: 449,000

Median sales price;
May: $430,000 June: 452,500 July: 430,000

Number of new listings;
May: 300 June: 290 July: 301

Number of sales;
May: 241 June: 232 July: 239

Condominiums and townhomes in Santa Clarita:

Here are the statics for condominiums and townhomes in Santa Clarita:
Active Listings:
May: 165 June: 192 July: 186

Median Days to sell;
May: 26 June: 22 July: 32

Median List price;
May: $263,500 June: 259,500 July: 264,500

Median sales price;
May: $227,500 June: 231,000 July: 260,000

Number of new listings;
May: 110 June: 136 July: 133

Number of sales;
May: 90 June: 85 July: 92

All of the data in this post is based on the information obtained from the SoCal MLS.

About Lauren Nemeschansky

I am a local real estate agent here in Santa Clarita, a suburb of Los Angeles. I love to write about real estate buying and selling and address some difficult issues such as divorce and real estate, short sales, probate and relocation. I use the power of the internet and my blog to educate because in real estate “knowledge is power.” I will also enjoy some guest bloggers who are experts in their fields such as mortgage lenders, attorneys, and credit repair experts. Don’t forget to follow me on google+ and connect with social media sites!