How has the Santa Clarita Valley real estate market fared so far in 2021?
Now that we’re past the midpoint of the year, we want to give you an update on what’s going on in the Santa Clarita Valley real estate market.
Over the last year, inventory has been very low. Nothing has really changed in this area. Right now, we have 247 homes on the market, which seems high compared to a few months ago.
Although our numbers are up by 100%, that isn’t enough to satisfy the demand. A balanced market is somewhere between 800 to 1,200 homes. In Santa Clarita, we currently have 526 pending homes and we have closed 416 in the last 30 days.
What’s driving all of this? A combination of low inventory and low interest rates is why we’re seeing multiple offers and increasing prices over the last year. FHA and VA loans have rates of around 2.6%. High-balance (or jumbo) loans are around 3.4%. For people who need to sell a property, we have access to bridge loans that will help you buy before you sell at around 6%.
If you have any questions about these loans or anything else related to real estate, give us a call. We’d love to help you out. Have a great day.