Within real estate circles, most are concerned with that homes are for sale. That is something that we look at too for each of our Real estate buyers.
However, the Sold Properties can pack quite a punch, reference to giving insight into the current real estate market conditions.
We do our Monday Market Updates, every Monday 🙂 On that particular show, we give insight into what is going on with the local real estate markets and talk about all types of inventory.
For the past several weeks, we have seen a lot in the current markets reference to listing prices and sales prices in the Cities in the Santa Clarita Valley.
That is an indication that the homes that are being listed, are being listed higher than buyers are willing to pay and that in some cases, sellers are willing to accept less.
The one thing you will want to know is what the current type of real estate market is. Is it a sellers market with very short Days on Market time frames, before properties are entering escrow? Is the current market increasing in the time it takes to sell a Santa Clarita Valley home?
How about larger indicators in the economy – how is unemployment? What about the stock market? What about the overall inventory related to homes for sale and the absorption rate indicators?
We cover those in our Market Update Shows and for today’s Sold Saturday, I will give you some insight as to where the current market that we have observed in the last 7 days of real estate activity in the Santa Clarita Cities.
If you look at this snapshot that is of some of the sold listings in the Santa Clarita Valley Cities, you will see that some of the 51 listings that closed escrow, closed for less(indicated by a red down arrow), than they were listed for.
You can also deduce that some properties sold for more than they were listed for(indicated by a green arrow pointing up).
However, the red price reduction arrows, outweigh the upward green arrows.
The “blank spaces”, where the arrow should be appearing, indicate that those properties sold for what they were listed for.
The days on market time frames have also been increasing across the Santa Clarita Valley Cities.
If you were to look at the actual pricing pages, that show recorded numbers that reference the prices history of sold real estate, you would see that we are still increasing in median sales prices in most of the Santa Clarita Valley cities.
The current demand is such that people, and the banks loaning them the money, are positive in relation to the prices being offered/lent.
This trend does differ greatly from the period of time that existed in Valencia California between January 2012 and present. (see graphic to the right)
Are we in for a flattening out of the current market, I do believe so and let us know when you are ready to move. You would be better served if you attended our crash course on real estate held in our Santa Clarita real estate offices with our Paris911 Team of REMAX Valencia CA Agents.