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Santa Clarita CA real estate and market update 2014-083


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We are a real estate team serving the greater Los Angeles Cities. Our Monday market update reports are about the market data and housing market intel for the Santa Clarita Valley cities. Our Team name is known as and we are REMAX of Valencia CA realtors, that site is located at Reach out to us and our market updates cover the Santa Clarita Valley markets, including Acton, Castaic, Canyon Country, Saugus, Santa Clarita, Stevenson Ranch and Valencia. Be safe - search well and thanks for checking out our real estate and housing market reports.

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Santa Clarita CA real estate and market update 2014-083

  1. 1. MARKET UPDATE Paris911 Intel Reports · Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of March 24, 2014 · Presented by Connor and Paris MacIvor / REMAX of Santa Clarita CA REMAX of Valencia CA / The Paris911 Team / 661-400-1720 SANTA CLARITA, CA Powered by Altos Research LLC | | Copyright ©2005-2013 Altos Research LLC
  2. 2. Median List Price Median Lot Size 41.9 Percent Relisted (reset DOM) 2300 3.0 8 % Median Number of Bathrooms 72 Inventory of Properties Listed $ 236 Percent Flip (price increased) 6,501 - 8,000 sqft Median House Size (sq ft) $ 529,900 31 % 4.0 Market Action Index Median Number of Bedrooms Asking Price Per Square Foot 9 % Percent of Properties with Price Decrease Seller's Advantage == ±+ == ≠≠ ≠≠ Altos Research Value Statistics Most Expensive Listing Average Days on Market (DoM) Bottom/Fourth Lower/Third Upper/Second Top/First This Week Real-Time Market Profile Trend The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer. Supply and Demand Characteristics per Quartile 14 13374 623.0 26 3.0 4 52 4.0 26 75 2 6 6,501 - 8,000 sqft 47 $ 467,000 3 2 27 3.0 4,501 - 6,500 sqft 63.0 1350 6,501 - 8,000 sqft 26 $ 365,000 4.0 98 6,501 - 8,000 sqft$ 600,107 5.0$ 774,250 11 4 2660 Inventory is up and Market Action is trending down recently. While days- on-market appears to be trending lower, the overall conditions are weakening a bit. Monday March 24, 2014 The Paris911 Team | | 661-400-1720 26 2028 2.0 The median list price in SANTA CLARITA, CA this week is $529,900. The 105 properties have been on the market for an average of 72 days. Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft. No change Strong upward trend Strong downward trend Slight upward trend Slight downward trend±+ == ≠≠ ≠= SANTA CLARITA, CA City Overview Least Expensive Listing Average List Price Average Age of Listing 105 $ 25,000,000 $ 84,500 $ 821,335 25 Trend Key: The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we're in a Seller's Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure Page 2 of 6 Single Family Homes in
  3. 3. The Paris911 Team | | 661-400-1720 City Overview SANTA CLARITA, CA Monday March 24, 2014 Median Price While this week the median didn't fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer's zone will be a leading indicator of the price strength subsiding. 90-day Average7-day Average Quartile Prices The market is showing mild price weakness lately. Quartiles 1 and 2 are basically flat. Notice however, that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen but supply is still relatively short. Buyers are focusing on the lowest price homes in the area. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 6 Single Family Homes in
  4. 4. The Paris911 Team | | 661-400-1720 City Overview SANTA CLARITA, CA Monday March 24, 2014 Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop. 90-day Average7-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 90-day Average7-day Average Page 4 of 6 Single Family Homes in
  5. 5. The Paris911 Team | | 661-400-1720 City Overview SANTA CLARITA, CA Monday March 24, 2014 Market Action Index The SANTA CLARITA market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 41.92 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. Buyers/Sellers Cutoff90-day Average Market Action Index per Quartile Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. Page 5 of 6 Single Family Homes in
  6. 6. The Paris911 Team | | 661-400-1720 City Overview SANTA CLARITA, CA Monday March 24, 2014 Days on Market The properties have been on the market for an average of 72 days. Half of the listings have come newly on the market in the past 35 or so days. 90-day Average7-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 6 of 6 Single Family Homes in