Home sales in SCV slow down

Numbers still up from a year ago, according to data

Typical of a post-summer slump, home sales in the Santa Clarita Valley decreased slightly in September compared to August figures.

But, on the whole, sales of single family homes and condominiums combined remain above the 2015 numbers.

Realtors closed escrow on 228 singlefamily homes during September, down from 244 homes sold in August.

However, the September sales figure represents an 8.6 percent increase from sales numbers one year ago, according to a report from the Southland Regional Association of Realtors.

The trend was the same for condominiums, which experienced a slight dip in sales between August and September. Condo sales in September were marked by 96 closed escrows.

In June of this year homes and condominiums hit their highest point of sales for the year, with closed escrows on 265 singlefamily homes and 127 condominiums.

The median price for a single-family home in September came in at $525,000, down from $539,000 in the month prior. Home prices,

however, are up over 2015.

Median prices for a condominium came in at $372,000, down from $347,500 in August, however the September figure is up 12.6 percent over the same period a year ago.

With a shrinking amount of listings available to fit the market’s needs, realtors are worried that home sales have plateaued and will not be able to meet the market’s demands.

“This is especially true for buyers hunting in the lower, entry-level price ranges. There’s not much available,” said M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors in a statement. “It’s a challenge and can be frustrating for everyone involved — home buyers, sellers, realtors and related service providers.”