As of this hour, the inventory of Santa Clarita homes for sale is at 2,011. I anticipate that the amount of homes for sale in Santa Clarita by the end of Monday will be around 1,990. Finally moving below 2,000! I think it’s very positive news that our inventory of homes for sale has actually been decreasing, instead of gradually rising as it usually does this time of year.
Perhaps by the end of the day on Monday, or on Tuesday, I can blog an “I told you so” post, but I’ll have to see how this pans out first. Generally, at least how things have been going lately, a lot of listings will be marked as pending in escrow on Monday, from all of the prior weeks/weekends activity or purchases that took place.
Take a look at the last year of Santa Clarita inventory of homes for sale:
April 2008: LISTINGS TODAY: 2,011
March 2008: 2,085
February 2008: 2,182
January 2008: 2,163
December 2007: 2,100 (normal drop off due to holidays)
November 2007: 2,341
October 2007: 2,443
September 2007: 2,493
August 2007: 2,509
July 2007: 2,358
June 2007: 2,320
May 2007: 2,240
April 2007: 2,161
So even after all of these foreclosures over the last 8+ months, the Santa Clarita real estate market has managed to have an overall lower inventory than a year ago.
At the current pace of sales taken from March 2008, our inventory of homes for sale in March was at about 9 months. Much lower than the highs of last year when the inventory of homes for sale represented about a 15+ month supply, based on the pace of sales at that time.
While this type of data doesn’t translate exactly to the rest of Southern California, things are definitely looking up here in the Santa Clarita real estate market.
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