Just to bring you up to speed, the Santa Clarita Valley consists of 7 Cities.
- Canyon Country
- Stevenson Ranch
You can also throw Agua Dulce and Santa Clarita into the mix as well – but typically the cities referenced when talking about Santa Clarita Valley California, are the bulleted ones.
This week in Santa Clarita CA proper we observed the flatness that I spoke about in the main headline of our Santa Clarita market update report.
Monday March 31, 2014, we compiled our SCV market updates and found that the Median listing price in Santa Clarita CA, this week is $534,900.00. There is a total of 104 real estate listings that have been on the market for an average of 73 days.
When it comes to listing and selling real estate, one of the items that my Paris911 Team at REMAX of Valencia CA looks at is Demand. We measure Demand by the market action index and have noticed that it is increasing and the days on market timeframes are trending downward. Even as more of the Santa Clarita real estate listings enter the market, becoming more available, these are positive trends for the local real estate market.
Santa Clarita CA cities can also be approached when looking at Supply and Demand to get a grasp on how the local real estate market is fairing. In the current data stream we see that while the Market Action index shows some strengthening of the Local Santa Clarita market in the past few weeks, prices have not seemed to move from their plateau. Should the Upward Trend amongst Santa Clarita real estate sales relative to inventory continue, you can expect that prices will resume an upward climb.
Our Paris911 Team also looks at Median prices and the stats revolving around this real estate dynamic. Today we see that in the Santa Clarita Valley Cities that while the Median Sales Prices did not fluctuate much, prices continue to sit at all time highs. We continue to look to the Market action index and will report if we see a persistent drop. A persistent drop in the Santa Clarita CA market Action Index would be a leading indicator of the price strength subsiding.
Discussing the Santa Clarita real estate and housing market, we talk about real estate listings in price ranges known as quartiles.
Each of these quartile ranges gives intel that you will understand that keeps accurate within the local Housing Market.
Prices in the Santa Clarita Valley cities have settled at a price plateau across the board. Prices in the SCV in all four quartiles are basically mixed. We will keep you posted as we will be watching for a persistent shift (up or down) in the MAI(market action index) before prices move from these current levels.
When we deal with our REMAX Relocation clients that are coming from back east, they are all about Price per Square foot when it comes to understanding and evaluating real estate in the Santa Clarita Valley cities.
This is a consistent trend that we see and we often look at the PPSF numbers to gauge similar real estate listings, especially those that are within the local Santa Clarita Valley tract system.
The Santa Clarita Valley price per square foot is increasing fairly consistently recently despite the fact that overall price trends in Santa Clarita CA, not showing a consistent upwardly path. They can imply that investment conditions are opportunistic in the SCV. Watch the remodel index in the Santa Clarita Valley cities, for a more detailed analysis of the investment opportunity in the local cities.
Real Estate inventory provides valuable information related to wanting to buy or sell Santa Clarita real estate. One of the things we have noticed as of late is that inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MAI, market action index and Days on Market Trends to gauge whether buyer interest is keeping up with available supply in Santa Clarita CA.
The Santa Clarita real estate market is still well within a Sellers Advantage Zone. We are in a Sellers real estate market in the Santa Clarita Valley. The 90 day market action index stands at 43. This figure indicates that demand for Santa Clarita homes is strong and available supply of homes gets snapped up relatively quickly.