More requests from buyers leave agents scrambling to find homes for sale.
Santa Clarita has seen a decent summer as far as real estate goes. Prices and interest rates have remained steady, and we have seen an increase month over month in listings and sales, as well as inventory for sale.
Lately however, it seems there is a late summer surge with regard to buyers looking for homes and, for the first time in quite a while, some real estate agents are scrambling to find homes that will satisfy their buyers’ needs.
So what might be causing this end of summer buying spree?
Interest rates are still holding in the low 4 percent range for qualified buyers, and even low for certain types of loans such as 15 year fixed and FHA loans. It’s a great opportunity for buyers to flex their purchasing power and get into a home before the end of the year.
Sellers Have Been More Willing To Negotiate
It wasn’t so long ago that sellers held “all the cards” when it came to negotiating a home purchase. In some cases, back in 2013, sellers enjoyed multiple simultaneous offers from buyers, giving them leverage to sell their home totally on their terms.
This year saw a return to a more “balanced” inventory of homes for sale in Santa Clarita. Early in 2013, we barely had a one month’s supply, but in August there was an average of just over 900 homes for sale (An approximate 3 month supply). This increase gave sellers pause to think about the sudden competition in getting buyers through their doors, and we saw prices and terms become more negotiable over the summer.
This year seemed to see more “boomerang” buyers; those who may have short sold their home a few years back when the recession was at its worst, but are now in a position to purchase another home. We have also seen an improvement in the overall economy in the past few years, spurring more buyers to consider investing, or re-investing, in property.
Thinking about buying or selling?
Team Avalos is YOUR choice when it comes to buying or selling a home in the Santa Clarita and San Fernando Valleys. Contact us with your questions about the market, and let us show you 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