A Los Angeles County assessor’s report on all 88 cities in Los Angeles County showed Santa Clarita property continues to be among the county’s most valuable.
Santa Clarita landed at No. 5 overall, with $37.218 billion in total value — an increase in value of $2.048 billion over the previous year, according to the Assessor’s Office. Santa Clarita land gained 5.8% in value, which was just over the county average of 5.7% — while Inglewood saw the highest year-over-year gains countywide at 13.6%, and Palmdale led the North County region with a 7.5% gain.
City officials cited a number of factors, such as safe, desirable neighborhoods and the Santa Clarita 2020 plan to upgrade facilities as part of the effort that help sustain property values, as well as its partnership with local law enforcement.
“The city of Santa Clarita has always placed a high priority on ensuring top-notch facilities and amenities for residents,” according to Carrie Lujan, city of Santa Clarita spokeswoman, in an email Thursday. “In the past year alone, we have welcomed the first inclusive playground in Canyon Country, as well as the already popular Trek Bike Park of Santa Clarita.” The city also mentioned the soon-to-be-built Canyon Country Community Center and the new sheriff’s station off Golden Valley Parkway.
The report notes that Los Angeles County and its 10-million-plus residents is not only the largest county in the state, but also larger, by the numbers, than 42 other states, according to the assessor’s report.
Santa Clarita Mayor Cameron Smyth said he’d expect those numbers to continue to rise in light of the growing interest the community’s real estate market has received in the last seven months, due to many having to re-evaluate not only their commutes but also the value of their space at home, as well.
“I think since the pandemic, you have seen a number of people relocating from the downtown lofts and condos into communities where there is more space, and I think that has put increased pressure on property inventory, which, in turn, raises the value,” he said Thursday. “You talk to any Realtor and their listings are lasting barely a week and many are going over asking price, because I think people are looking at re-evaluating their long-term residency … and people moving back home with their family members and then have a need for more space.”