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Santa Clarita Valley home prices to plateau this year says Southland Regional Association of Realtors

Prices expected to move higher in the coming months
  • The median price of a single-family home in the valley didn't shift from January to February.
  • The market's median home price for existing product is now equivalent or higher than some bottom-end newly-built homes.
  • Santa Clarita Valley has a total housing supply of 2.7 months.

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Santa Clarita Valley home prices rose by more than 8 percent year-over-year in February; however, on a month-to-month basis values were unchanged - backing up the forecast that price growth will moderate in the market this year. M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors (SRAR) expects the valley's median home price to rise by five percent this year. No gains in value occurred from January to February, as the market's median price stayed put at $530,000. “With the continued limited inventory, it’s likely prices will move higher in the coming months,” Vincent said, adding so long as interest rates stay low rising prices can be sustained. Inventory in Santa Clarita Valley slow to improve Entering March there were 509 active listings, which includes 366 single-family homes and 143 existing condos. This total equates to 2.7 months of supply. In February, 121 new single-family listings hit the market...