We’re into March now, so I wanted to chat with you quickly about what the real estate market is doing here in Santa Clarita.
Active inventory is in the high 200s and there are currently 440 homes pending in the Santa Clarita Valley. Over a 30-day period, we’re averaging around 250 closings per month.
As you can see, we still have an unbelievable shortage of inventory, essentially just one month’s worth. A normal, balanced market has between four and six months of inventory.
Showing Time, which is a company that helps agents set up showings, tracks how much buyer activity is going on. They say buyer activity is up anywhere between 3% and 20% in different areas across the country. Home sales are up year over year in every region of the United States as well. The national inventory average is around three months, which we’ve never seen.
“We’ve never seen the national inventory average so low.”
What does that mean to sellers? Now is the time to list. You get to be picky, you get to demand top dollar, and you get to negotiate the best possible terms on your contact.
For buyers, it’s so important to work with the right agent. If you do, you can still come out on top, even in a market like this. Our buyers are still getting great deals and there is still great opportunity out there.
Whether you’re a buyer or a seller, we’d be happy to answer any questions you may have. Just reach out to us by phone or email today. We look forward to hearing from you.
