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The real estate sellers are still controlling the housing ball and buyers want it back

by Connor T. MacIvor on March 17, 2014

We have just completed our Housing Market Reports and are happy to report that we are continuing our Santa Clarita Valley housing reportsjourney to a healthy real estate market in the Greater Los Angeles areas and within the Santa Clarita Valley Cities.

For the Condo/Townhome reports click here

We have touched on several points within our SCV Housing Market Reports below. Some of the most interesting are:

  • Current real estate market conditions for Single Family Homes
  • Trends in Pricing
  • Current Levels of Supply and Demand
  • Value Metrics

Please Reach out to my Paris911 team at REMAX of Valencia CA when you are ready for us to MOVE you and to be of assistance with your real estate needs.

Acton Single Family Homes reports

The median list price in ACTON, CA this week is $527,000. The 39 properties have been on the market for an average of 99 days.

The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market.

Home sales have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s Market.

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

Pricing in the middle of the market is in an up trend lately, while Quartiles 1 and 4 are mixed. The Market Action Index for Quartiles 1 and 4 can tell us whether they are about to resume an upward price trend or whether we’re at the beginning of a decline.

The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they’re doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

The ACTON market is currently in the Buyer’s Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 26.01 so buyers should expect to find reasonable levels of selection.

Three of the four quartiles of the market are in the Seller’s Market zone with relatively low amounts of inventory given the current rate of demand for homes in the quartile. Notice that Quartile 1 (the highest-end price group) is showing weaker demand than the others. It’s not uncommon that the premium segment of the market takes longer to sell than the rest of the group.

The properties have been on the market for an average of 99 days. Half of the listings have come newly on the market in the past 56 or so days.

Canyon Country Single Family Homes report

The median list price in CANYON COUNTRY, CA this week is $524,950. The 73 properties have been on the market for an average of 85 days.

Inventory has been tightening but days-on-market and the Market Action Index have been basically unchanged, not providing strong indication for market conditions.

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

While this week the median didn’t fluctuate much, prices continue to sit at an all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

The CANYON COUNTRY market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 50.46; indicating very little supply relative to the demand.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 85 days. Half of the listings have come newly on the market in the past 42 or so days.

Castaic Single Family Homes market updates

The median list price in CASTAIC, CA this week is $500,000. The 52 properties have been on the market for an average of 88 days.

Demand measured by the Market Action Index is increasing and days- on-market is holding steady. With more properties coming available, conditions are mildly positive.

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure

Prices seem to have plateaued here at the all time high. When we see these conditions, we pay close attention to the Market Action Index to gauge the leading indicators and whether prices will fall from here.

Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

The CASTAIC market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 46.98; indicating very little supply relative to the demand.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 88 days. Half of the listings have come newly on the market in the past 28 or so days.

Newhall Single Family Home Reports

The median list price in NEWHALL, CA this week is $662,498. The 34 properties have been on the market for an average of 65 days.

Demand measured by the Market Action Index is increasing and days- on-market is trending downward. Even as more properties come available, these are positive trends for the market.

The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

Prices have generally settled at a plateau, although Quartile 2 is on a bit of an up trend in recent weeks. We’ll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.

In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

The NEWHALL market is currently in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 43.86 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 65 days. Half of the listings have come newly on the market in the past 28 or so days.

Santa Clarita Single Family Housing Reports

The median list price in SANTA CLARITA, CA this week is $529,900. The 111 properties have been on the market for an average of 68 days.

Inventory is up and Market Action is trending down recently. While days- on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure

The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.

Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

The SANTA CLARITA market is currently in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 41.38 which indicates that demand is strong, and available supply of homes gets snapped up relatively quickly.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 68 days. Half of the listings have come newly on the market in the past 28 or so days.

Stevenson Ranch Home report

The median list price in STEVENSON RANCH, CA this week is $742,000. The 46 properties have been on the market for an average of 72 days.

Inventory is up, and Market Action is trending down recently. While days- on-market appears to be trending lower, the overall conditions are weakening a bit.

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

The market seems to have paused around its high point. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

While prices in the upper half of the market has shown essentially mixed pricing lately, the lower half of the market is trending lower. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with the available supply.

The STEVENSON RANCH market is currently in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 38.35 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 72 days. Half of the listings have come newly on the market in the past 35 or so days.

Valencia Single Family Home reports

The median list price in VALENCIA, CA this week is $596,388. The 88 properties have been on the market for an average of 59 days.

Demand measured by the Market Action Index is increasing and days- on-market is holding steady. With more properties coming available, conditions are mildly positive.

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.

Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

The VALENCIA market is currently quite strongly in the Seller’s Advantage zone (greater than 30). The 90-day Market Action Index stands at 48.82; indicating very little supply relative to the demand.

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

The properties have been on the market for an average of 59 days. Half of the listings have come newly on the market in the past 28 or so days.

 

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