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Santa Clarita Real Estate Update
March, 2010 - Issue #65
Santa Clarita Real Estate: The Report
By Joshua Suess

Let's take a look at the real estate market for Santa Clarita Valley this month. Currently there are 444 contracts pending in the market overall, leaving 659 homes still for sale. The resulting pending ratio is 40.3 percent (444 divided by 1,103). But what does that mean?

A pending ratio indicates the supply and demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.

Taking a closer look, we notice that the $300,000 to $400,000 price range has the largest number of contracts that are currently pending. The $300,000 to $400,000 price range has the largest active inventory of 123 homes for sale, as well.

Additionally, the current average list price (or asking price) for all homes in this market is $538,920.

A total of 1,751 homes have sold in the last six months with an average sold price of $375,861. Alternatively, 704 listings have expired in that same period of time. (Listings may expire for reasons like being priced too high, inadequate marketing, poor condition of the home, or an owner's second thoughts about selling.)

Breaking it down, we see that more homes have sold in the $300,000 to $400,000 price range than any other. The $300,000 to $400,000 price range has the largest number of expired listings at 157 homes.

Homes currently for sale have been on the market for an average of 105 days; active listings in the $200,000 to $300,000 price range have been on the market the least amount of time at 73 days.

Analysis of sold homes for the last six months reveals an average time on market of 59 days. Notice that homes in the $400,000 to $500,000 price range have been selling quickest over the last six months.

The average sold price for the last 30 days is $379,098 (+3.2 percent) with an average of 54 days on market (+10.3 percent), indicating that there has recently been increased demand.

The average list-to-sales ratio is 99.6 percent. This is the percentage of the final list price that the buyer ultimately paid. It is commonly used to help decide how much to offer on a home.

For a free complete copy of The Suess Team Real Estate Report, visit www.suessteam.com or call 702-4640.

Welcome to the "Home Listing" Season of the Year
by Scott Thompson

Spring is traditionally the time of year that quite a few people list their homes for sale. You may want to get a jump on your neighbors by listing your home first and getting a sign up before they do.

Correct pricing is a key component for a successful sale. There will continue to be distressed homes for sale that will have an effect on the current home values. But that is not the only consideration. If your home is well maintained, in overall exceptional condition, with nice upgrades, you may very well fetch a premium price. Many buyers today would much rather pay a little more and know the home has been well taken care of and that they'll get full disclosures about the property from the current owners. (As opposed to purchasing the perceived "deal" of a bank-owned or distressed property that may have many undisclosed issues that the new buyer will have to contend with for years to come.) Whether you are buying or selling a home, it is important to hire a Realtor® to guide you through the process.
Scott Thompson is owner of and Realtor® with Regal Realty of California 373-5636 www.regalrealtyca.com
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