Sales of existing single family homes in the Santa Clarita Valley (SCV) jumped a whopping 22.2% in October, while the overall California home sale market increased by only 3.1%. Existing home sales rose by 7.3% and condo sales rose by 28.8% from September to October in the SCV.
As parts of the SCV are nicknamed “Awesometown,” this suburban region just north of the Los Angeles Basin is a highly desirable place to live. With homes more affordable than ever and record low interest rates on home loans, the local SCV single family home market is performing better than the San Fernando Valley, where the median price of homes that sold last month was $350,000.
Multi-family construction is up throughout L.A. County. However, permits for single family housing still rule the Santa Clarita Valley. Single-family construction has historically been more consistent than multi-family projects.
Very few distressed/bank owned residential land assets are currently available for sale in the Santa Clarita Valley.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14