Just out of curiosity (must like my job a wee bit too much), and out of frustration from the perception that so many Santa Clarita homes are now selling SO quickly (read: before I can get my buyers in), I thought it would be cool to take a look at a snap shot of homes that were marked as going into escrow/sale pending, for the date of Thursday April 24th, 2008. The purpose here is to see how quickly they went into escrow, and how long it took to enter escrow after a price reduction happened.
Here’s what it looked like, with maybe a brief analysis afterward:
SCV Homes Entering Escrow 4-24-08
| ADDRESS | DAYS SINCE LAST PRICE REDUCTION | TOTAL DAYS ON MARKET |
|---|---|---|
| 28435 Hawks Ridge | 16 | 94 |
| 14952 Tulipland | none | 12 |
| 29020 Sam Pl | 37 | 167 |
| 25162 De Wolfe | 9 | 41 |
| 24441 La Glorita Cir | 42 | 54 |
| 19507 Opal Lane 266 | none | 13 |
| 26006 Baldwin Pl | none | 4 |
| 23302 Montecito Pl | 4 | 48 |
| 27475 Cherry Creek | none | 5 |
| 18106 Erik Ct 574 | 37 | 190 |
| 761 Foreston | 35 | 132 |
| 22610 La Rochelle | none | 4 |
| 26168 Huerta Dr | 6 | 44 |
| TOTAL AVERAGES | 23 Days | 62 Days |
For starters, the most interesting bit of information to me, is how long it took for some of the homes above, to go into escrow after a particular price reduction. The average days on market, for homes that entered escrow yesterday (4-24), was just 23 days, for those after their last/only price reduction. There were 5 homes that entered escrow yesterday that never had a price reduction, those averaged just 7.5 days on the market.
Overall, between the 13 homes that entered escrow yesterday, they all totalled an average of 62 days on the market. The interesting tid-bit about that is: the average days on market for a home that sold in Santa Clarita back in April 2007, was 106 days!
The above data shows, that Santa Clarita homes priced properly, are selling pretty fast right now! Back in 2007, even homes priced well weren’t selling very easily, mostly due to the overwhelming uncertainty in the real estate, and mortgage markets. Now, there is such an abundance of “believers” that we are close to the “end,” that there is a lot of buying activity going on now, especially in areas that have always had high demand – like Santa Clarita!
Want to find your piece of Santa Clarita property? Search the Santa Clarita MLS here!
Email It!
