First things first, knowing the current housing market is important. Is the market in a seller’s zone or Buyer’s? Are buyers having to compete for the homes which are for sale or are they offering without competition? Read a buyer’s market article
How about sellers, what is their competition level? Are there other homes that compare with theirs for sale in their neighborhood? How are they priced? Are the other homes less expensive with more in the way of upgrades? Read A Sellers Market Article
After the answers are obtained related to these questions, both sellers and buyers will be able to adjust their approach and make their real estate endeavor a bit more palatable.
During today’s Facebook Live Video which I posted on my personal Facebook Account, we observed that real estate inventory is poor to say the least.
We see that in the Santa Clarita Valley Cities only 428 homes – condos and town homes currently for sale.
The break down of residence types for sale in the Santa Clarita Valley are:
- Santa Clarita single family homes – 331
- Santa Clarita condominiums – 44
- Santa Clarita town-homes – 42
- Santa Clarita manufactured homes – 8
- Santa Clarita commercial residential – 3
That rendering of homes and real estate listings for sale is very low. In fact, during the past 4 years, we are very close to the lowest point ever – check this out:
Time frame is from Jan 2013 to Feb 2017
Something on the graph which is very telling has to do with an apparent reduction of median home listing prices, there is a decline and that has to do with the interest rates increasing.
|List Price, Median|
Reach out to me, Connor MacIvor, when you are ready for me to be of great assistance with your real estate needs. Enjoy our latest facebook live video giving you our 69th day of the year market update for 2017.