Santa Clarita, CA Single Family Home Sales Statistics for October 2007

Santa Clarita, CA single family home sales statistics for October 2007 have arrived!

The area with the largest increase in median home prices was Newhall, closely followed by Castaic. Valencia remains stable, with single family median home prices steadily increasing. The biggest declines in the Santa Clarita Valley's single family median home prices for October 2007 were Canyon Country (zip code 91351) and Saugus (zip code 91350).

Compared to Los Angeles County's August numbers, there was a decrease in the total number of single-family homes sold county-wide at 2,917 homes sold in October vs. 4,444  in August, 4,629 in July and 5,049 in May, with a moderate 3.5% decrease in the median price from October 2006 county-wide.

Remember that October is the middle of the "slow season" in the Santa Clarita area, regardless of whether homes are selling faster than hotcakes, or if we're in more of a buyer's market like we are now. Home sales will typically drop from month-to-month during this season, so we need to look at prior year comparisons as well to get the most accurate picture of the Santa Clarita real estate market.

The number of homes sold in Santa Clarita per DataQuick's statistics for October was 99, as compared to the August sales of 209, July sales of 216, and to the May home sales of 186.

Below is a table of the home sales for the Santa Clarita area for October 2007 by zip code. Remember that these are MEDIAN home prices, which means that half of the homes sold were above these prices, and half the homes sold were below these prices. These numbers are for single family homes only (no condos or townhomes). The percent change is from October 2006 to the current year's numbers.

Zip Code	# of Homes Sold	Median Price October '07	% Change
91351	11	$400,000	-21.6%
91387	5	$580,000	-12.8%
91321	10	$598,000	9.5%
91384	13	$525,000	- 0.6%
91350	14	$439,000	-21.0%
91390	7	$600,000	0.6%
91381	11	$820,000	- 0.2%
91354	17	$600,000	- 5.2%
91355	11	$640,000	8.5%

When the median price for an area goes down, this could mean that the current trend is for the lower priced homes to be selling more frequently than the higher priced homes in the area, and does not necessarily mean that home prices are declining overall. When only a handful of homes has sold in an area, then the median price has less meaning since there's not enough data to calculate a true cross-section of that area.

This month, both Canyon Country (91351) and Saugus (91350) experienced huge dips in the median price of single family homes as compared to the October of 2006. Castaic appears to be relatively stable, with a median price decrease of 0.6% compared to October 2006, and a significant increase in median price from August to October 2007 ($468,000 to $525,000).

Both Valencia zip codes (91354 and 91355) have experienced increases in the median price of single family homes since August 2007, with zip code 91355 showing consistent monthly increases since May 2007.

Here's a quick look at October 2007 Santa Clarita single family home median prices vs August, July, May, April and March 2007 median prices:

Zip Code	October '07	August '07	July '07	May '07	April '07	March '07
91351	$400,000	$519,000	$485,000	$494,000	$499,000	$523,000
91387	$580,000	$630,000	$582,000	$725,000	$613,000	$528,000
91321	$598,000	$536,000	$530,000	$673,000	$544,000	$510,000
91384	$525,000	$468,000	$510,000	$650,000	$515,000	$593,000
91350	$439,000	$528,000	$548,000	$548,000	$513,000	$526,000
91390	$600,000	$725,000	$679,000	$714,000	$649,000	$669,000
91381	$820,000	$938,000	$850,000	$813,000	$814,000	$830,000
91354	$600,000	$570,000	$552,000	$633,000	$600,000	$570,000
91355	$640,000	$600,000	$570,000	$569,000	$563,000	$600,000

On the foreclosure front, we're definitely seeing more bank-owned (REO) properties and short sales than in prior months. While buying these homes takes a lot more patience and a better trained Realtor than a standard home purchase, those willing to ride the foreclosure roller coaster can often reap some big rewards. If you searching for foreclosures and short sales, click here to see all available foreclosure and short sale (preforeclosure) homes in the Santa Clarita area.

Sales statistics are only a starting point for determining how the real estate market is doing. If you're thinking of buying or selling in the Santa Clarita area, you'll need more detailed information in order to make an informed decision. Be sure to call Linda Slocum at 661.670.0349 or email her for more detailed market information and personalized home searches.

Looking for homes in the Santa Clarita area? Try our Neighborhood Home Searches to help find that perfect home!