Santa Clarita real estate inventories continue to decline, as well as median prices in most areas. An analysis of home sales activity by zip code shows that the inventory of homes in most Santa Clarita areas increased somewhat between March and April and then started a declining trend. The current week's statistics show relatively flat median prices and prices per square foot, declining days on market, and declining inventories. This is still a buyer's market, although sellers are seeing much more activity than before, including the return of multiple offers. 
According to the Southland Regional Association of Realtors (SRAR), an upward Santa Clarita sales trend started in April, when a total of 178 homes changed owners, up 2.3 percent from a year ago and 17.9 percent higher than the March tally. Sales had been trending downward since hitting a record high of 405 transactions in June 2005, but the April total was the first time since March 2007 that the total was higher than 12 months ago. At the end of April there were 381 open escrows, up 34.2 percent from the prior year and 24.1 percent higher on a month-to-month basis. Activity has been steadily rising since hitting bottom in December when there were a mere 160 open escrows. The record high for open escrows was set in March of 2005 at 662 open escrows. SRAR has not yet released the sales statistics for May 2008, but the live data on the charts above show that the inventory of homes for sale continues to decline as of the date of this post (June 15). For more live data on Santa Clarita's real estate activity, either click here or click on one of the graphs above. Be sure to sign up for our Weekly Market Updates, which provide detailed statistics and trends for real estate in your area. | 
