“Oh Wow, Oh Wow” were the famous last words of Steve Jobs at Apple and that is exactly the verbiage that describes this January 2016. It is so busy considering its an election year. This real estate business is a lively and an exciting ride for those of us in the business. I feel passionate about the benefits of knowing and sharing the numbers so here you go with some fresh data and information compiled by your’s “truly”.
MARKET UPDATE:
Actives: Starting on January 1 and ending on January 31st, there has been exactly 222 new listings come on the market in Santa Clarita. The average price for these active listings was $590,390 with the medium price being $492,000. The highest priced listed home during this first month of the year is on the market was for $4,500,000. It is still active today but still not sold.
Pendings: During this same time period, there has been 114 listings go under contract. This means that 114 listings have went into escrow since the beginning of 2016. The average price of one of these pending homes is $498,239 with the medium list price being $482,450. The highest list price for these pending homes category is $1,592,675.
Solds: Now we look at the sold listings since the beginning of the year. Since January 1, 2016, there has been 206 homes close escrow. Many of these homes first went under contract before the beginning of this year but closed escrow during the first month. The average closed price for this group of homes is $480,565. The medium price of these closed listed homes is $465,000. The highest price home which closed in January 2016 is the one that closed at $1,550,000.
Absorption: There are currently 447 listings on the market. With an estimate of 222 closed sales per month, we have an approximate 2 month supply of listed homes in our local inventory.
My thoughts are this…This maybe an election year, but this year of 21016 will probably be the prolonged beginning of the next real estate boom which should peak around 2020. Are you invested properly”
So, put on your helmut and hold on for dear life. Till next month….cheers!
Mark Bolender 