ONLINE EDITION!
PRINT
DIGITAL
YOUR HOME   -   REAL ESTATE
Santa Clarita Real Estate Update
July, 2010 - Issue #69
by Joshua Suess

Let's take a look at the real estate market for Santa Clarita Valley this month. Currently, there are 574 contracts pending in the market overall, leaving 825 homes still for sale. The resulting pending ratio is 41 percent (574 divided by 1,399).

So, what does this 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 a relatively large number of contracts that are currently pending. We also notice the $400,000 to $500,000 price range has a large inventory of homes for sale at 184 listings.

Additionally, the current average list price (or asking price) for all homes in this market is $522,678.

A total of 1,612 homes have sold (closed) in the last six months, with an average sold price of $379,031. Alternatively, 673 listings have expired in that same period of time. (Listings may expire for many reasons, like being priced too high, inadequate marketing, the home was in poor condition, or perhaps the owner had second thoughts about selling at this time.)

The $300,000 to $400,000 price range has the largest number of expired listings at 141 homes.

Homes currently for sale (active listings) have been on the market for an average of 125 days.

Analysis of sold homes for the last six months reveals an average sale price of $379,031 and 75 days on the market. Homes in the $0 to $100,000 price range have also been selling quickest over the last six months.

The average sold price for the last 30 days is $387,112 with an average of 84 days on market. Since the recent "Days on Market" is greater than the average "Days on Market" for the last six months, it is a negative indicator for demand.

The average list-to-sales ratio is 99.4 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.

Analysis of the absorption rate indicates an inventory of 3.1 months based on the last six months of sales. This estimate may be used to determine how fast listings are currently selling. Please note that this does not take into account the number of new listings which will eventually come on the market.
For a free copy of the Suess Team Real Estate Report visit www.suessteam.com or call 702-4640.

Real Estate Technology
by Jennifer Thompson

Recent statistics show that nine out of 10 home buyers are using the internet as a search tool in their home-buying process prior to going out to view properties. While this is a great way to narrow down your search and look for homes - and research areas of interest - it is important to keep in mind that there is nothing like viewing a property in person. It is recommended that buyers contact a licensed real estate professional who knows the local area to help guide you through the purchase process. In turn, when listing your home with a Realtor®, make sure that the photos that are taken of your home showcase it so that buyers viewing the listing online are interested in viewing your property in person.
Jennifer Thompson is owner of and Realtor® with Regal Realty of California 373-5636 www.regalrealtyca.com.
EMAIL SIGNUP
- What is the sum of 1 + 7?
This is a required value
to protect against spam
community events
15
01
03
03
03
04