It is no secret that we have seen the “listing prices” of real estate being reduced hand over fist during the past few months. But, to date, we have seen little in the way of those “listing price” reductions effecting the “sales prices”.
This week’s real estate housing market report is somewhat of a game changer.
Stevenson Ranch real estate report:
This week, as we always do, we are going to get to the quick related to a specific housing market in the Santa Clarita Valley Cities.
We will talk descriptively about Stevenson Ranch California real estate.
Most of the other Santa Clarita Valley Cities have experienced an overabundance of inventory. That has caused a lag in the sales of real estate in those other areas.
Stevenson Ranch has experienced a similar delay, from a buyer perspective, but not for the same reasons.
The reason that Stevenson Ranch real estate has slown down, is the fact that home prices have been “pricing out” most of the real estate buyers, that are interested in buying within Stevenson Ranch.
Here is the intel:
The Median List Price in Stevenson Ranch this week is $799,900. There are 51 real estate listings that have been on the Stevenson Ranch market for an average of 81 days.
The 81 Days on Market timeframe is an increase over last week. The inventory of available properties for sale has reduced to 51 in total as of this week, compared to last week’s numbers.
Inventory in Stevenson Ranch has been lightening up lately and the Market Action Index has been trending up. Though days on market timeframes are increasing, these are mildly positive indication for the Stevenson Ranch market.
We also see that with regard to supply and demand in Stevenson Ranch, the MAI shows some strengthening in the last few weeks, prices have not seemed to move from the plateau. Should the upward trend in sales relative to inventory continue, you can expect prices to resume an upward climb in tandem with the Market Action Index.