June home sales break 12-year record in SCV

Houses in the Santa Clarita Valley near Copper Hill Drive. Katharine Lotze/Signal

Santa Clarita Valley home sales are the highest they have been in over a decade, with a total of 307 houses sold in June.

This is the first time home sales have surpassed 300 since September 2005 in the SCV, according to a report by the Southland Regional Association of Realtors on Monday.

“Summer months are the busiest for closed escrows and hitting this number is a testament to the healthy economy of our valley,” chairman of the Santa Clarita Valley Division of the Southland Regional Association of Realtors Marty Kovacs said in a statement.

Still, June’s sales were below Santa Clarita’s all-time high recorded in June 2005 when 405 homes were sold.  In June 2016, 265 homes were sold.

“Like other regions of Southern California, local resale prices are inching too high too fast and while we desperately need more homes listed for sale, the local housing market is showing its resiliency with this relatively strong showing,” Kovacs said.

The median price of a Santa Clarita home was $586,000 in June, up from $560,000 the month before and $575,000 the year before.

As of June, there were 342 new home listings and 453 total active listings.

Santa Clarita is one of the few places in Southern California that continually constructs new homes, Chief Executive Officer of the Southland Regional Association Tim Johnson said in a statement.

“That translates into more local resale homes, especially when people have the confidence and ability to pay California’s sky-housing prices, which rank among the highest in the nation,” Johnson said.

Condominium sales are the highest they have been in three months, reaching 119 sold in June, just shy of 120 in March. Last June, 127 condos were sold in the SCV, which was the highest since 104 were sold in August 2013.

The most condos sold in the Santa Clarita Valley occurred in April 2003 when escrow closed on 204.

Condo prices stayed consistent from May to June, with the median cost remaining at $370,000. In June 2016, the median condo cost $340,000.

There are 99 new condo listings and 75 active listings in the Santa Clarita Valley.

Related To This Story

Latest NEWS