Just starting the 3rd quarter of 2023 and it's still a wild ride with some definite changes! I keep track of all things Santa Clarita and her surrounding communities. Homes, townhouses, condos!
Biggest news? Well, other than those dratted interest rates? Inventory has climbed 10% since last month. Still low, but based upon the number of escrows closing in a 30 day period, we now have 1.5 months of inventory.
Happy to say a few of these numbers are from my team!!!
So, in case you can't read the type on the photo....We have:
12 in the Coming Soon Category. You know the ones getting ready to get on market.
342 Active available for sale. That's houses, condos, townhouses in all of SCV.
258 in Escrow. Buyer & Seller are working through their contract, inspections, loans, etc.
And, 209 Sold in the last 30 days. Closed escrow, also known as sold.
Interesting, so you don't have to look for it.... last month numbers were, in the same order:
11 - 1 less
304 - 38 less
293 - 35 more
203 - 6 less....
So, the key items to notice is that we have more inventory, and less in escrow. Why you ask? Because obviously the market is changing a teeny bit. Interest rates, home insurance hikes, and seasonal changes are not going to help this situation. So, what should you do?
Sell when you need to sell, buy when you need to buy.
Whatever is right for you and/or your family.
I would say, off the top of my head, the majority of sellers we have had this year are leaving California. The majority of Buyers are buying due to work or family changes. Need to sell to leave. Need to buy for changes. It was/is right for them.
If you need help deciding if the time is right for you, just holler. Leslie, Jennifer, and myself will always be there to help you in any way we can.
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