I do the majority of my business here in the beautiful Santa Clarita, and right now obscenely hot, Valley. I work in other areas as my clients needs determine. San Fernando Valley has a few different nuances than Valencia, but it's still buying or selling a home.
So, I focus on the housing stats of our little suburbia. This does piggy-back a little bit on the 'How's the Market' blog a few days ago.
Last year about this same time, we had somewhere around 600 active listings. I include Acton, Agua Dulce, Canyon Country, Saugus, Newhall, Valencia, Castaic and Stevenson Ranch in my statistics search. This includes homes, condos and townhouses. Tight amount of listings. Lots of Short-Sales, lots of REO's and some Standard sales too. And, in the first 8 months of 2009, we closed 2127 sales.
Now, using stats from January to August, we have about 1100 properties active for sale in our MLS. And, to date this year, we have closed 2166 home sales.
Hmmmmm, you say? And, I respond, the market is stable....right now. Inventory is increasing. We do have about 950 in escrow, of which almost 2/3's of that are Short-Sales....which we all know may never close. Especially when we further look to note that of the closed sales this year, only about 1/4 of them are Short-Sales. So, maybe 1/2 of them actually closed escrow. I had heard the percentage of closed Short-Sales recently was 27%.....sheesh...but, these show about 50 % are closing. That's great! I think so. Means, someone is getting better at moving these things along to close instead of going to Trustee Sales and being foreclosed upon.
That is a good thing. The more we can get closed before they go back to the bank, the better off we will be in the long run.
If you want to keep updated on current market stats, let me know. Or just follow this blog, I'll post something about it again in the future.
For now, keep your chin up about this market. And, be patient. It's all about patience and perseverance. Onward and Forward!
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