The local real estate market here in Valencia and within the Santa Clarita Valley is all a buzz with activity.
We have seen that the local markets are continuing to have their housing inventory sold on an average of 60 to 90 days on market.
Additional resource: check out the days on market time frames
That is because days on market is a strong indicator of market health and buyer activity.
Today on our radio show we talked about the real estate listings in Valencia, and the rest of Santa Clarita that are selling, but which are selling for less than their list price.
Today was called our Friday finale broadcast. And we make sure on our Friday finale broadcast to talk about the price changes that occurred within the local Santa Clarita and Valencia housing markets.
In order to gather information for our Friday finale broadcast, We go directly into the multiple listing service. When in the multiple listing service we are looking at the most relevant data for the Santa Clarita Valley cities.
Once we get our cities put together, the cities that are located with in Santa Clarita, then we look at the exact data as reflected by the multiple listing service.
Additional resource: search the best MLS, multiple listing service
One of the things you should know about the multiple listing service, is it is owned and operated by the local board of realtors. And that local board of realtors is held to a much higher standard. Their standard is higher than you might find online when it comes to market data and real estate data put together by websites that are not owned and operated by the Board of realtors.
That information was as an aside to how we get our information which is a lot of times different than the syndication websites.
So once we get the numbers we then take them and we put them into various categories.
We look at those properties that are newly listed during the last seven days.
We then take the properties that Have experienced price changes and categorize those.
We also look at the properties that have entered into escrow. Whether they have entered escrow by being put in the back up category. Or whether they have entered escrow by deed being put in the pending category.
After we look at look at those variables then we move into looking at the properties that have fallen out of escrow. Those properties are known as homes that have gone back on market.
There are a lot of reasons for a property not making it all the way through escrow. Some of those reasons could’ve been The buyer losing their job. Maybe the buyer was unable to verify employment. Maybe the buyer asked the seller to fix something and the seller refused thereby causing the buyer to cancel. Maybe the buyer found a different home that they liked better.
Whatever the reason, before you cancel a real estate transaction, either as a buyer or seller, you want to make sure that in doing so you’re not gonna put yourself unnecessarily at risk.
Please enjoy our Friday finale broadcast within our Santa Carita Valley real estate radio show.
You can find it at Paris911.com. I am Connor MacIvor, we are local Remax agents, headquartered in Valencia California, and serving greater Santa Clarita and greater Los Angeles area.