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Santa Clarita Home Inventory Drops 13.6% Since Jan 09

By
Real Estate Agent with Realty Executives in Santa Clarita

Looking at some local Santa Clarita Real Estate Statistics, it's interesting to report to you the following:

Since Jan 09, through today, March 26, 2009, there has been a decrease in home inventory for sale of 13.6%. This, despite our Foreclosure crisis! Someone is buying up all these homes, and as we're on the ground part of the action, we can tell you that we're experience incredible home sales numbers. Usually it's first time home buyers from our perspective, taking advantage of the new $8,000 tax credit, grant money available from SRAR, record low interest rates, and home prices not seen since early 2000's.

New listings hitting the market are also down from Jan 09, through today, March 26, 2009 by about 15%. 

Take a look at the stats below:

January 2009 - 1,367 listings for sale in Santa Clarita, 429 new listings

February 2009 - 1,284 listings for sale in Santa Clarita, 329 new listings

March 2009 (through 26th) - 1,181 listings for sale in Santa Clarita, 364 new listings

The water cooler talk is, that more foreclosures are indeed coming. I can find evidence of this using our Foreclosure Radar tool at our Santa Clarita Real Estate website. The governments intervention to stem foreclosures, implement moratoriums on them, has prevented new listings from hitting the Santa Clarita real estate market.

With that said though, even when the majority of the next wave of foreclosures hits the Santa Clarita Valley, I firmly believe that the majority of those distressed homes will be met with strong buyer interest and offers, so long as interest rates stay low, and incentives such as the $8,000 first time home buyer tax credit are available. That interest will mitigate any increase in listing inventory, keeping it stable. A stable housing inventory, should, prevent major reductions in home values. Though, we do expect reductions in home values to continue to some degree in "most" parts of Santa Clarita, some areas will experience very moderate reductions, and as we're seeing now, some communities have actually increased in value recently! All real estate is local - sometimes "Hyper Local." 

Contact The SCV Agents Team @ Realty Executives Valencia to help with your home search, or to effectively sell your home in today's market. We can be reached at 661-964-1760, or just visit us at TheScvAgents.com.

 

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The Robert and Brian Team

Realty Executives

Direct Office: 661-964-1760

Guiding the buyers and sellers of the Santa Clarita Valley: Newhall, Valencia, Stevenson Ranch, Castaic, Saugus, Canyon Country, Agua Dulce, and Acton

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