DEMAND STILL HOT ON HOMES SALES BRISK EVEN AS PRICES UP.Byline: Lisa Mascaro Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, - Home sales sizzled in July July: see month. , soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. 38 percent over a year ago as buyers took advantage of low interest rates even as prices increased, a real estate group reported Monday. Home sales totaled 480 units in July, up from 347 a year ago, said the Santa Clarita Division of the Southland south·land or South·land n. A region in the south of a country or an area. south  land·er n.Noun 1. Regional Association of Realtors. That included 315 single-family homes, an increase of 92 from a year ago, and 165 condominiums, up 41 units. The group said that continued demand for the area's lifestyle left some homes lasting just days on the market. ``It's a coming of age,'' said division president Nancy R. Troxell. ``You still get more community, lifestyle aesthetics aesthetics (ĕsthĕt`ĭks), the branch of philosophy that is concerned with the nature of art and the criteria of artistic judgment. , amenities here in Santa Clarita, plus a nice property, compared to other areas.'' The median price for single-family homes was $265,000, an 8 percent increase from a year ago but slightly below June's record of $274,000. The median price for condominiums was $158,000, up from $135,000 a year ago, and steady with June's record of $158,000. Troxell said that the area has seen rising prices that have been able to continue the upward trend because the increases have been gradual since the market hit a low in 1996. ``We've enjoyed the increase because it has been gradual,'' she said. ``I think we can enjoy this kind of activity at least a few more months.'' She also credited low interest rates on home loans that help temper tem·per n. 1. A state of mind or emotions; mood. 2. A tendency to become easily angry or irritable. 3. An outburst of rage. the higher prices, which leaves both sellers and buyers happy, she said. ``Keeping the interest rate low takes the sting, the bite, out of prices,'' she said. The hot pace is keeping the inventory low, leaving some homes to sit just days or weeks on the market, the association said. Wendy Furth, president of Southland Regional Association of Realtors, noted one Newhall home on the market for three days already had three offers - one that had fallen through escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. - when she showed it. ``Three days, three offers,'' she said about the three-bedroom, two-bath home that sold for about $260,000. Furth added that buyers, using the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , know what they want and what they're willing to pay. ``It's a very new trend,'' she said. ``We have very savvy buyers. ... Buyers know what things are worth, they find a property, they jump on it.'' The group expects the market will continue this direction for the months to come. Troxell, though, cautioned sellers not to get anxious for high prices, saying if they want to bump up bump up Verb Informal to increase (prices) by a large amount Verb 1. bump up - increase or raise; "OPEC bumped up the price of oil" their price $10,000 to $15,000, they might be left waiting for buyers. ``I don't want the consumer to think, wow, we're really going to get big bucks for our house,'' she said. ``In order to enjoy what we've continued to enjoy in the past three to four years, which is a gradual increase in prices, you have to keep it in check,'' she said. Otherwise, she added, ``You're asking for the worse, which is for it to stop.'' July 2001 Home Sales Total sold July 2001: 480 July 2000: 347 Median Prices Single family homes July 2001: $265,000 July 2000: $245,500 Condos July 2001: $158,000 July 2000: $135,000 CAPTION(S): box Box: (ran in SAC Sac: see Sac and Fox. SAC - 1. An early system on the Datatron 200 series. [Listed in CACM 2(5):16 (May 1959)]. edition only) July 2001 Home Sales (see text) |
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