HOME SALES DOWN AVERAGE PRICE CONTINUES TO INCREASE AS SUPPLY RECEDES.Byline: Daily News 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 declined for the first time in six months in Santa Clarita, but the average price of a house climbed in July to $329,900, a new record. The drop in the number of resales was blamed on a lack of inventory as buyers continue to snatch up Verb 1. snatch up - to grasp hastily or eagerly; "Before I could stop him the dog snatched the ham bone" snatch, snap clutch, prehend, seize - take hold of; grab; "The sales clerk quickly seized the money on the counter"; "She clutched her purse"; "The houses soon after they hit the market. ``Demand remains very heavy, but the dip in sales last month resulted simply because we did not have any inventory,'' said Tacie M. Jares, president of 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. The good news for sellers is that the median price of a single-family home increased 24.5 percent from July 2001, and $10,000 from just one month earlier, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. association data. The average price of a condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. hit $184,500, a 16.8 percent from July 2001. A total of 271 single-family homes and 170 condos closed 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. last month in Santa Clarita. There are 562 homes on the market, about a one- month supply for this market, according to the association. A community the size of Santa Clarita should have about 3,000 listings for a balanced market. Realtors wonder whether rising prices and the lowest interest rates in 35 years might prompt homeowners to consider selling. ``I'm hearing more people talking about trading to a new home to capture or maximize the increase values in their current property,'' Jares said. `'Some owners think they can now get the best price possible for their home. Jares and Jim Link, the association's executive vice president, expect the demand to continue. ``Even with the acute shortage of listings, the Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. resale market will be very busy because it is one of the most popular communities in the region to raise a family,'' Link said. CAPTION(S): box Box: HOME RESALES RISE Daily News |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion