Today we’re at 573 homes for sale in Santa Clarita. That’s a sizable increase from the inventory of homes for sale earlier in the year. More choices for home buyers means a shift in the market from a complete sellers market, to approaching a more balanced market where it’s fair for buyers too, in that they might be able to not only easily get their offer accepted, but negotiate down an asking price somewhat.
573 listings for sale, still isn’t a lot of homes for sale. At the current pace of home sales in Santa Clarita, which was 305 for August 2013… 573 listings represents only a 1.7 month supply of homes. We need to be closer to a 6 month supply in order to have a “balanced” Santa Clarita real estate market. We may be on our way to that, since prices have gone up, and more and more homeowners are choosing to make a switch to a larger home, or downsize from their current home before prices and interest rates got too high for their more permanent residence.
Santa Clarita Home Inventory Increase Breakdown for 2013
January 2013: 325
February 2013: 317
March 2013: 312
April 2013: 338
May 2013: 381
June 2013: 428
July 2013: 492
August 2013: 517
September 27, 2013: 573
What we know:
Interest rates have gone up and currently hover near the mid 4’s… from the mid 3% range. We also know prices have gone up. And due to these two things, there are now more homes on the market for sale.
If prices continue to go up, and or interest rates go any higher or stay where they are at… it’s likely we’ll continue to see a continued increase in the Santa Clarita inventory of homes for sale.
Looking to navigate the best housing deals in Santa Clarita? Ask Robert @ 661-373-2374.