After having a lackluster start at the beginning of 2014, we’re seeing a huge gain for attached homes.
Numbers recently released by the Southland Regional Association of Realtors show the median price of condominiums in Santa Clarita ticking upward again in June of this year. This is the third straight month of significant gains, increasing by $9000 in equity over May. Condo prices have increased a total of $40,000 since the beginning of 2014.
The rise and fall…and rise of condo prices.
Condos are a great value, whether you’re a first time home buyer, downsizing, or looking for an investment property, they are full of potential from a value perspective. Those looking to purchase a condo should consider their financing options however, as the FHA (Federal Housing Administration) may place limits on financing for certain condo complexes. These limits are based on a few factors, including HOA guidelines and owner/tenant ratios. Contact us for a list of FHA-approved condominiums.
What about single family home prices in Santa Clarita?
Sales of single family homes in the SCV still remain strong and brisk. We are seeing a “leveling off” of median prices, with no significant changes since April. This is an indicator of the Santa Clarita Valley finally heading toward a “normal” real estate market, with better options for both buyers and sellers.
It wasn’t long ago that the SCV had so few homes for sale that buyers were clamoring for anything available, thus prices shot up in 2013. While sellers were able to take advantage of this phenomenon, they were in the same boat when, after selling THEIR home, they had to find one to move into.
What we’re seeing in 2014 is more housing inventory, which is great for buyers looking for options and selection. Homes are selling a bit more quickly this year, with an average of 8 days less “on market” than this time last year (Great news for sellers!).
We are your Santa Clarita and San Fernando Valley real estate experts!
Contact Team Avalos to find out more about how we can help you achieve all of your real estate goals.
Team Avalos Real Estate
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355
Office: (661) 290-3743
Carlos direct: (818) 399-4093
Rose direct: (818) 590-2077