We have a quick market update for you today. Here is what you should know about the current state of Santa Clarita Valley real estate.
It is starting to heat up out there in the Santa Clarita Valley. Summer is around the corner, and so is the peak buying season for our real estate market. We haven’t given you a market update in a while, so I wanted to give you a quick update on the latest numbers and where we’re at.
Inventory is something you’ve probably been hearing about a lot. Over the last few years, we have been hovering at very low levels. We are nowhere near where a balanced market should be. Right now, we have 452 active listings on the market to go along with 517 pending sales.
Over the last 30 days, we have had 317 closed home sales. Anything over 300 is a great number. The interesting thing about our inventory is that of the 452 homes, 252 of them have been on the market for less than 30 days. More than half of our inventory is fairly new. At the same time, 96 homes have been on the market for more than 60 days.
Another factor we need to consider is interest rates. Even though they are creeping up, our low inventory and high demand brings a lot of opportunity to the market for buyers, sellers, and investors.
If you want to know more about the market and where we see it heading over the next year, give us a call or send us an email. We watch these things closely and would be happy to chat with you. We look forward to hearing from you soon.