December 25

Prices steady as house sales dip, condo sales rise

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week “Buyers might be a little more thoughtful, a little more hesitant, than a year ago before they agree to buy a (house) or condo,” Mike Davis, president of the association’s Santa Clarita Valley division, said in a printed statement. “But they are not waiting very long. They still have great faith in the market.” The inventory of listed properties remains low, though there are early signs that it might be building, according to the association. Active listings stood at 1,123 at the end of September – down 14.3 percent from a year ago but up 32.7 percent from the month before. Still, a seller’s market that has reigned for the past several years persists. It would take more than 2,500 listings to build enough inventory so neither buyers nor sellers would have an advantage, Davis said. Pending escrows fell 7.7 percent from September 2004. Davis attributed the decline to limited inventory and seasonal factors. Sales usually slow down as school begins and the holidays approach. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SANTA CLARITA – Overall median home prices held steady in September at $525,000, retaining record gains from a year ago, a monthly regional real estate survey said Monday. Prices retained the 18 percent increase compared with the $445,000 median recorded in the Santa Clarita Valley for the same period in 2004, according to the Southland Regional Association of Realtors. But it slipped slightly from August – down $5,000, or 0.9 percent. The median for single-family houses was $594,000 – a 2.5 percent increase from August and a 20.1 percent jump from September 2004. For condominium homes, the median price remained at $379,000, also recorded the month before – a 17.3 percent increase from the same period last year. In all, 330 single-family houses changed owners, a decrease of only two sales – or less than 1 percent – from the same period a year ago. And 173 condominium homes were sold last month, a record for September, representing a 40.7 percent increase in activity – more than 50 transactions. last_img read more