Welcome to the first day of May 2017 and we see that the sellers market in the Santa Clarita Valley continues due to lacking real estate inventory.
For Valencia California, in particular – this trend is much more dynamic looking at the Median Time Frame for the time it takes to sell real estate in Valencia CA.
The last 7 Sold Real Estate listings in Valencia CA – See what your Valencia CA home is worth!
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For the cities within the Santa Clarita Valley cities – we see that housing inventory is continuing to be low with increases in sales price. That equates to a seller’s market due to the high demand on the housing market placed by home buyers.
During the past several years, we have not seen inventory as low as we have in 2017. This includes the Cities of Castaic, Canyon Country, Stevenson Ranch, Newhall, Saugus and Valencia. The housing inventory is totally low at less than 440 units for sale.
To put this Santa Clarita real estate news article in perspective, all you have to do is look at doubling the housing and real estate inventory to make the market go from a sellers market to a buyers market.
Due to the interest rate increase – most home owners are sitting comfortably at a 3.2-2.5% interest rate. To make the leap from that to a 4.0% rate in order to buy another home, that is a tough leap to make for most home owners. Presently, this trend will continue until the homeowners decide it’s time to move, at that point nothing will be able to stop them except market dynamics.
I’m Connor with HONOR at REMAX of Valencia. We have two locations to serve your real estate needs in the Valencia Area. Please reach out to me when you are ready and I’ll take great care of you.