Santa Clarita Valley lack of inventory giving homebuilders a boost

New homes start in the 500,000s, existing median price sits at $530,000
  • The Santa Clarita Valley housing market has roughly 2 months of existing supply.
  • Brookfield Residential, TRI Pointe Homes, Meritage Homes and KB Home are all active in Santa Clarita.
  • The median sales price of an existing home in Santa Clarita will exceed $530,000 shortly.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Right now is a good time to be a homebuilder in Santa Clarita. A glaring reason why, the median price of an existing single-family home is equivalent or higher than some "bottom-end" newly-built homes, which start in the $500,000s. According to recent data from the Southland Regional Association of Realtors (SRAR), the median single-family home price stood at $530,000 in the Santa Clarita Valley during January. This value equated to a $50,000 year-over-year rise in price. "It benefits the brand new homes," said Dean Vincent, president of the Santa Clarita Valley Division of SRAR. "You're paying just a bit more (for new product) and it's hard not to look at the shiny object." Homebuilders are most active within Santa Clarita's Five Knolls, a new community that includes six new home collections from Brookfield Residential, TRI Pointe Homes, Meritage Homes and KB Home. Prices are said to start in the $500,000s. The community officially opened last September. Santa Clari...