Brent’s Carpet One – Banner
Disco Fever – Banner
Patterson’s Collision Center – Banner
Facey – Banner
Simply Taylored – Banner
Academy Swim Club – Banner
IHOP – Banner
Newhall Land – Banner
Galpin Motors – Banner
Action Family Counseling – Banner
Nothing Bundt Cakes – Banner
College Of The Canyons – Banner
SCV Chinese School – Banner
Hugo Naturals – Banner
Newhall School District – Public Hearing – Banner
Valencia United Methodist Church – Luau Lunch – Banner
Union Bank – Banner
Adage IT – Banner
Beyond Harmony – Banner
All Americans Bail Bonds – Banner
AV Party Rental – Banner
Green Convergence – Sun Power – Banner
Valencia United Methodist Church – Under God’s Sea – Banner
SCV Chinese School – Banner 2
Today
It is forecast to be Clear at 7:00 PM PDT on May 04, 2015
Clear
76°/48°
Home » Santa Clarita News » Business » SCV Home Prices Post Best Numbers Since Great Recession
SCV Home Prices Post Best Numbers Since Great Recession

SCV Home Prices Post Best Numbers Since Great Recession

COURTESY LEON WORDEN | SCVNEWS.COM

Previously owned single-family homes in the Santa Clarita Valley are commanding the highest prices we’ve seen since the start of the 2008 recession, according to data this week from the Southland Regional Association of Realtors.


Don’t miss a thing. Get breaking Santa Clarita news alerts delivered right to your inbox.


The typical house in Santa Clarita changed hands for $485,000 in May – even with April, and higher than any month since February 2008 when the price was $490,000.A model home from KB Homes

The all-time high came in April 2006 when the average house sold for $645,000. The modern low point came in November and December 2011 when the median price dipped to $340,000.

The median price of an SCV condominium in May was $281,000, well ahead of last May’s $235,000. Condo prices have been rising as summer approaches; at the pace they’re going, condo prices could top last year’s summertime high of $300,000, set in July.

“Santa Clarita is a highly desirable community which is outperforming other regions of the state,” said Jim Link, SRAR CEO. “Even inventory is slowly growing, which expands options for buyers and reflects renewed optimism in the housing market.”

There were 663 active listings on SRAR’s Multiple Listing Service at the end of May, up 74.0 percent over a year ago, the association reported. It was the highest inventory since April 2012 and has been slowly climbing from a recession-low of 312.

Escrow closings were relatively strong for single-family homes; 210 closed escrow in May, up 7.1 percent from May 2013.

Condos were a different story; just 94 closed escrow in May, up from April but down from May 2013 when 103 changed owners.

“Home sales are coming in stronger than expected, which bodes well for the summer home buying season,” said Nancy Starczyk, president of the association’s SCV Division. “Condo sales are lagging partly because too many HOA boards of directors have not taken steps to be qualified for buyers to receive FHA loans, and also due to affordability issues as resale prices rise.”


Do you have a news tip? Call us at (661) 298-1220, or drop us a line at community@hometownstation.com.


KHTS AM 1220 - Santa Clarita News - Santa Clarita Radio



Source: Santa Clarita News


SCV Home Prices Post Best Numbers Since Great Recession

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

About KHTS AM 1220

College Of The Canyons – News Banner
Beyond Harmony – News Banner
AV Party Rental – News Banner
Action Family Counseling – News Banner
Academy Swim Club – News Banner
Hugo Naturals – News Banner
All American Bail Bonds – News Banner
Beyond Harmony – Tile
Wicall’s Carpet
AV Party Rental – Tile
SCV Chinese School – Tile
Galpin Motors – Tile
College Of The Canyons – Tile