479 active condos, homes and townhomes - like lions tigers and bears
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479 active condos, homes and townhomes - like lions tigers and bears
Connor with Honor at SantaClaritaOpenHouses(com) - July 26, 2024** Tags: [santa clarita real estate](/-/Blog/tag/santa clarita real estate), [connor with honor](/-/Blog/tag/connor with honor), macivor, [santa clarita popen houses](/-/Blog/tag/santa clarita popen houses) ** 0 Comments | Add Comment Santa Clarita Real Estate Market Update - July 26, 2024
Welcome to today’s Santa Clarita real estate market update. I’m Connor MacIvor, your trusted advisor with Santa Clarita Open Houses. Today, we will delve into the latest trends, inventory levels, and critical insights for buyers and sellers in the Santa Clarita Valley. Let’s explore what you need to know to navigate this dynamic market effectively.
Current Inventory Status
As of today, Santa Clarita boasts 479 active residential real estate listings. This inventory includes single-family homes, condominiums, and townhomes across all cities within the valley: Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia. Over the past five to six weeks, we’ve observed a steady increase in inventory levels, a trend that has been ongoing for over three years. At the beginning of this year, we were in the 200s, demonstrating a significant rise in available properties.
Impact of Interest Rates
The rise in inventory is influenced by the current interest rates, which have made it more challenging for buyers to qualify for larger loans. Despite this, many buyers remain eager and are willing to pay top dollar for properties. This eagerness keeps our days on market relatively short, with some homes in high-demand areas like Valencia and Stevenson Ranch selling almost immediately after being listed.
Seller Insights
For sellers in the Santa Clarita Valley, understanding the current market dynamics is crucial. While it may be tempting to accept the first offer that comes in, it’s often beneficial to allow a few days for showings to ensure you receive the best possible offer. Even though quick offers can be appealing, especially if the buyer is pressed for time, taking a bit more time can provide better market exposure and potentially higher offers.
Moreover, sellers should be prepared for the possibility of negotiations and buyer inspections. As the romantic phase of the initial offer can wear off, buyers may request repairs or credits after their investigations. Being flexible and prepared for such requests can help ensure a smooth transaction.
Buyer Tips
For those looking to purchase real estate in Santa Clarita, it’s important not to base your decision solely on the hope that interest rates will drop in the future. Although there are talks of potential rate decreases in the coming months, these are not guaranteed. Planning your purchase based on current market conditions and securing a property that meets your needs and budget is the best strategy.
If interest rates do drop, we can expect an even more competitive market. Lower rates will likely lead to increased buyer activity, making it even more crucial to be prepared and decisive when making offers.
Long-Term Market Outlook
As we approach 500 units for sale, we continue to see robust activity in the market. If interest rates decrease, the market could become even more competitive, with buyers willing to pay above asking prices to secure their desired homes. However, this can lead to challenges during escrow, as the initial excitement wanes and both parties settle into the negotiation phase.
Insights from My Book
In my book, I delve into potential pitfalls in real estate that can ensnare unsuspecting buyers and sellers. One key takeaway is the importance of thorough research and due diligence. Whether you’re buying or selling, understanding the market, the property’s history, and the potential risks can save you from costly mistakes.
For sellers, this means preparing your home meticulously, pricing it accurately, and being ready for negotiations. For buyers, it means understanding your financial limits, securing pre-approval for loans, and not rushing into decisions based on market hype.
Conclusion
The Santa Clarita real estate market continues to thrive with increasing inventory and active buyer participation. Whether you’re looking to buy or sell, staying informed and prepared is crucial. As always, I’m here to guide you through every step of your real estate journey.
If you have any questions or need assistance with your real estate needs, don’t hesitate to reach out. I’m Connor MacIvor with Santa Clarita Open Houses, and I’m here to help you navigate this exciting market. Thank you for tuning in, and I’ll see you tomorrow with more updates.
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Yes, I earn referral fees when you work with agents I recommend. But unlike national platforms like Zillow or Realtor.com, I personally know and vet every single agent in my network of 17 trusted professionals.
My recommendations are based on YOUR specific needs and the complexity of your situation—not who pays the highest referral fee. I live in Santa Clarita Valley, and my reputation in this community depends on your success. Local accountability matters.
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