AgentMarkets & Economy

Home sales totals suggest Santa Clarita is an improving market

Annual single-family and condo sales up from previous years
  • Single-family sales activity has dipped noticeably when comparing July to November.
  • Median condo prices continue to rise on a year-over-year and month-over-month basis.
  • Market has slightly more than two months of supply, which should continue to drive median prices.

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The Santa Clarita Valley has experienced recent drops in single-family home sales activity; however, 2015 will outpace the previous two years when it comes to total transaction volume. Spanning January to November, 2,213 single-family homes sold in the valley, according to the Southland Regional Association of Realtors. For perspective, a total of 2,230 homes traded in 2014, with 2,270 selling in 2013. 2015 was a solid year in spite of the 154 single-family homes that closed November, which represented a 22.2 percent year-over-year decline in activity. On a month-over-month basis sales activity was also down noticeably, by 25 percent. July represented the strongest month for closed transactions this year with 255 sales. Declining sales haven't negatively impacted sales prices. In November the median single-family sales price stood at $520,000, a 7.4 percent year-over-year increase and a 4 percent month-over-month rise. According to the association, the median price was th...