SANTA CLARITA VALLEY BOOMS.

Byline: Jason Takenouchi Daily News Staff Writer

The real estate market continued its torrid pace in April as home sales spiked 26.5 percent and the median home price continued its steady rise.

The median price for all resale homes, including condominiums, rose to $204,900 last month, a 16.4 percent increase over April 1998, according to a report Monday by the Southland Regional Association of Realtors.

Total home resales grew to 382 from 302 in April 1998, a 26.5 percent increase, the report said.

Sales of single-family homes increased 18.4 percent over the same month last year, and the median price grew to $225,000, a $34,500, or 18.1 percent, increase over April 1998.

``I think some people are starting to realize they had better buy now or they're going to be priced out of the market,'' said Mary Funk, relocation coordinator for Realty Executives. ``It's very busy.''

The market is especially tight for single-family homes, Funk said.

And all indications are the market will not slow anytime soon. Pending escrows, a measure of future activity, jumped to 448 at the end of April, 25.5 percent more than a year ago.

``As long as the economy stays strong, the stock market stays strong, then the housing market should stay strong,'' said Bob Bray, marketing director for The Meyers Group, a real estate information company.

Bray said the Santa Clarita Valley is doing well, in part, because it is seen as an alternative to the relatively more expensive San Fernando Valley.

While prices are nearing levels not seen since the last boom in the late 1980s, Realtors say the Santa Clarita market is still in the affordable range.

``It's not as crazy yet,'' Funk said. ``You can still buy a house in the Santa Clarita Valley for $130,000 or $140,000. When those prices reach $180,000, that will put a lot of homes out of the range of first-time buyers.''

A relative abundance of condominiums and townhomes is also keeping the area affordable, Funk said.

According to Monday's report, the median price for resale condominiums rose to $134,900 in April, a 15.3 percent increase over the same month last year. Total sales grew to 118, a 49.4 percent increase over April 1998.

New listings also increased in both single-family units and condominiums, the report said.

There were 780 active single-family home listings in April, a 3 percent increase over April 1998. There were 326 active listings for condominiums, a 62.2 percent increase over the same month last year.