Taking a look at the first two weeks of April 2020, 107 Santa Clarita homes and condos were listed for sale. During this same period, 73 homes went under contract as well. During what most would consider a 24 hr news cycle that isn’t filled with good news, this shows how desirable housing in Santa Clarita is, and the desperate need for more housing options for renters and buyers.

In April 2019 there were 600 Santa Clarita homes for sale in our valley.

In April 2020 we have approx 380 homes for sale from Acton west to Stevenson Ranch. This represents an approx 36% drop in inventory year over year.

With an incredibly low supply of homes available, some buyers are wondering if we will see a crash in home values and a wider adoption of sellers re-pricing. The fact is a low supply does not lend itself well to significant repricing and home values going down in value.

Much remains to be seen, such as how long shelter in place will last, and how soon unemplyment numbers can begin to improve. Never-the-less, right now, many of us are very aware of the dangers of COVID-19, we’re aware of huge amount of unemplyment claims being made, and we’re sure that we aren’t sure what’s going to happen. Despite that – for the first two weeks of April 2020… home buyers sure have been on the hunt for a home and making offers as evidenced by the 73 homes that went under contract which was 68% of the number of new listings to hit market at the same time.

At this time of year we will see more homes hit market. The inventory will rise. But it seems pretty clear buyers will be entering the market to buy that supply in healthy measurable numbers.

Check out my video update on this topic below. I’ll keep the updates coming. Check out my YouTube channel for any updates I may not post here to the blog. Thanks for reading and contact me here with any questions or so that I may help you with your Santa Clarita housing needs.

Robert Mickalson, Realtor, Keller Williams VIP Properties, CA DRE# 01313126