The market is shifting a bit. We’re seeing a higher inventory of Santa Clarita homes versus the spring of 2013, for instance. The Santa Clarita real estate market has started to slightly shift due to 3 reasons:

1) Prices have had a pretty heated run-up especially from mid/late 2012 compared to prices as they are today.

2) Sellers have caught word of the appreciating market, and have listed their homes for sale in greater numbers… some have become a bit greedy, some are just asking too much in order to achieve the highest possible price that will give them enough to buy something different or larger.

3) Interest rates have increased from their lows.

So, we’ve started to see some sellers begin to reduce their asking prices from their original (possibly too high) asking price. And that’s the shift. There are more sellers than the super low levels from months ago. More sellers is a great thing for home buyers. But, you’re not out of the woods yet… as noted… the Santa Clarita home market is still hot, and there are still multiple offers taking place. Prices are appreciating.

Priced Right

Homes that are priced right though, and have either a great location and or upgrades, are still attracting multiple offers, and often selling for above asking price. Premium homes will receive a premium price. Higher than the last sold comparable sale. That is why prices will continue to increase. Our inventory of almost 600 homes for sale, while almost double the Santa Clarita home inventory of late 2012 and early 2013… is still not enough to satisfy all demand. It’s hardly a 2 month supply of homes, which is based on the rate at which they’re selling.

Until we see a much higher inventory of homes for sale, where it’s a much more balanced for buyers, we’ll continue to see price increases and multiple offers on listings. The lack of distressed inventory (short sales and lender owned homes) is also a contributing factor to increasing prices in the Santa Clarita real estate market.

Santa Clarita Home Buyer Advice: You can still find a great deal, but working with a real estate agent who understands the ins-and-outs of the neighborhoods and inventory specifics is crucial. Work with an out of area agent or someone who doesn’t study the market, you might end up spending thousands more than you need to.

Santa Clarita Home Seller Advice: You can still achieve a sales price higher than your neighbor who just sold. It takes market savvy, marketing know-how, and a well-connected real estate agent to represent you though. Don’t throw away thousands of dollars in net potential by hiring the wrong agent.

Buyers and sellers… need an agent? Ask Robert @ 661-373-2374. Or connect here.