A cooling real estate market with prices at all time highs

    Here is the link to the condo and townhome report.

    Acton Single Family Market

    The median list price in ACTON, CA 93510 this week is $540,000. The 37 properties have been on the market for an average of 100 days.

    Santa Clarita real estate newsInventory is up, and Market Action is trending down recently. While days- on-market appears to be trending lower, the overall conditions are weakening a bit.

    Supply and Demand

    In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics.

    We continue to see prices in this zip code hovering around their high point. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

    In the quartile market segments, we see prices in most of this zip code trending higher in recent weeks but the high-end of the market (Quartile 1) is essentially flat. Look to the Market Action Index Quartile breakdown to see a leading indicator for each quartile.

    The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    The ACTON, 93510 market is currently in the Buyer’s Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 25.66 so buyers should expect to find reasonable levels of selection.

    Three of the four quartiles of this zip code are in the Seller’s Market zone with relatively low amounts of inventory given the current levels of demand. It’s not uncommon that the premium segment of the market takes longer to sell than the rest of the group.

    The properties have been on the market for an average of 100 days. Half of the listings have come newly on the market in the past 56 or so days.

    Canyon Country Single Family Market

    The median list price in CANYON COUNTRY, CA this week is $512,000. The 75 properties have been on the market for an average of 77 days.

    Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.

    The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

    Despite this week’s down tic, the price trend remains upward for several weeks. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

    Prices in most of the market have been trending higher in recent weeks. However the high-end of the market (Quartile 1) is showing some weakness. If this trend continues, expect downward price pressures on the rest of the market to follow.

    This is a market where watching the value metrics (like price per square foot) can provide insight that you don’t get at first glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining. Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for their money.

    Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

    The CANYON COUNTRY market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 52.27; indicating very little supply relative to the demand.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 77 days. Half of the listings have come newly on the market in the past 42 or so days.

    Castaic Single Family Market

    The median list price in CASTAIC, CA this week is $500,000. The 49 properties have been on the market for an average of 97 days.

    The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

    The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure.

    Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium. You can investigate this condition in the quartile details.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

    The CASTAIC market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 46.45; indicating very little supply relative to the demand.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 97 days. Half of the listings have come newly on the market in the past 35 or so days.

    Newhall Single Family Market

    The median list price in NEWHALL, CA this week is $724,450. The 34 properties have been on the market for an average of 66 days.

    Demand measured by the Market Action Index is increasing and days- on-market is trending downward. Even as more properties come available, these are positive trends for the market.

    The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

    Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

    Not surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All have been increasing in price lately.

    The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they’re doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    The NEWHALL market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 46.36; indicating very little supply relative to the demand.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 66 days. Half of the listings have come newly on the market in the past 32 or so days.

    Santa Clarita CA Single Family Market

    The median list price in SANTA CLARITA, CA this week is $529,900. The 105 properties have been on the market for an average of 72 days.

    Inventory is up and Market Action is trending down recently. While days- on-market appears to be trending lower, the overall conditions are weakening a bit.

    The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure.

    While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

    The market is showing mild price weakness lately. Quartiles 1 and 2 are basically flat. Notice however, that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.

    The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they’re doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

    The SANTA CLARITA market is currently in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 41.92 which indicates that demand is strong, and available supply of homes gets snapped up relatively quickly.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 72 days. Half of the listings have come newly on the market in the past 35 or so days.

    Stevenson Ranch Single Family market

    The median list price in STEVENSON RANCH, CA this week is $735,000. The 41 properties have been on the market for an average of 76 days.

    Demand measured by the Market Action Index is increasing and days- on-market is trending downward. Even as more properties come available, these are positive trends for the market.

    Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

    Prices seem to have plateaued here at the all time high. When we see these conditions, we pay close attention to the Market Action Index to gauge the leading indicators and whether prices will fall from here.

    Price weakness is evident across the board. Quartiles 1, 3, and 4 have been in price decline in recent weeks, with Quartile 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.

    We’re seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro- location variables.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    The STEVENSON RANCH market is currently in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 38.55 which indicates that demand is strong, and available supply of homes gets snapped up relatively quickly.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 76 days. Half of the listings have come newly on the market in the past 28 or so days.

    Valencia CA single family market

    The median list price in VALENCIA, CA this week is $599,000. The 91 properties have been on the market for an average of 57 days.

    The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.

    Supply and Demand

    Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

    The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.

    Prices have generally settled at a plateau, although Quartile 1 is on a bit of an up trend in recent weeks. We’ll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.

    The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

    Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

    The VALENCIA market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 48.52; indicating very little supply relative to the demand.

    Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

    The properties have been on the market for an average of 57 days. Half of the listings have come newly on the market in the past 28 or so days.

     

    Trackback from your site.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    2 Responses to “A cooling real estate market with prices at all time highs”

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)