SANTA CLARITA REAL ESTATE BY THE NUMBERS
I hope you and yours had a special Thanksgiving.
2017 Has been an exciting year in the Real Estate arena, Low inventory levels have been the headlines. The perception of many home owners I meet with is that they will get multiple offers if they put their property on the market. The reality, implementing a good plan of action ~ pricing it right ~ making it show well. will improve the odds of multiple offers however there are many factors that go into creating multiple offers.
Another factor in today’s market: The agent you choose has to sell the home TWO TIMES, once to a buyer & again to the banks appraiser. The second sale in today’s market can sometimes be harder.
This year we have also seen our share of “over priced” listings that didn’t sell, either an agent that didn’t know how to price it or a seller that was getting bad information chose a price that buyers were unwilling to pay.
Our market Changes from area to area & price ranges, some areas are hotter than others.
In today’s market if a property under $500,000 is not in escrow in 21 days or less, it is a sign it may be over priced , hard to show or not showing well (over priced for condition).
Between $500K & $600K it is still hot in most areas. The available inventory increases on properties over $700K & in some areas the market time dramatically increases.
We have 43 days worth of “active” inventory for all price ranges and areas combined, at 2017 YTD consumption rate.
When you need market conditions specific to “your” home feel free to call me.
When looking at national real estate trends or on line stats or values , one thing is for sure, they do not know Santa Clarita. Our appreciation in most areas of SCV (depending on price range) is double the national forecast. The online value sites are all over the place, we see just as many low and high valuations.
If you ever need to know your “true value” I am happy to provide you with it at “no charge”.