Today’s real estate intel has to do with price reductions. Listing price reductions. This is not an indicator of a real estate bubble or some impending doom related to the collapse of the real estate market.
We are in a time of year, during a healthy real estate cycle, where the market dynamic is one where it’s starting to take longer to sell real estate.
While monitoring the Days of Market(blue line above), you can see that when I query Single Family Homes, Townhomes, and condos in the Santa Clarita Valley Cities of Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch and Valencia, a decrease up to closing figures as of July 2016.
We are currently monitoring an “increase” in days on market timeframes, within the same cities, for the month of August 2016, which is about to close out as we will enter September 2016.
I will have that Santa Clarita Valley real estate market data published as soon as the housing data is compiled. I always do for our real estate clientele.
While keeping track of the listing prices versus sales prices, we see listing price reductions across the board, in the Santa Clarita Valley cities, within the past year.
Reminder and point – I want to make sure you are understanding this as not being reductions in home prices, but reductions in “original listing price versus the sale price”.
Are the home values, final recorded sales prices, indicating homes are selling for less now than they were during the past six months? Negative.
We cover all market dynamics during our crash course on real estate while we are being interviewed by a prospective Santa Clarita home buyer or SCV home seller.
I’m Connor MacIvor and I wanted to clear up some of the tripe I have seen online being published on sites trying to “knee jerk” you into buying or selling by manipulating the data.
I will be here for you as I have been for thousands of others looking to buy and sell Santa Clarita real estate and homes.