The Signal has come out with figures that explain the interesting housing trend in Santa Clarita. In short, the housing market in Santa Clarita has shifted focus over this last year. The high median prices for Santa Clarita homes has created an increase of condominium sales since condominiums are less expensive to purchase.
Why Are Home Prices So High?
Santa Clarita, much like Los Angeles, is increasing its population density. As Santa Clarita continues to grow, available one-bedroom homes have become a scarcity. As economics have historically proven, supply and demand will have an effect on the price of a good. In this case, the scarcity of homes has caused the Santa Clarita housing market to climb, setting the median home price at $580,000 in the month of October. This price is 5.8% higher than it was last year, a significant growth in only 12 months.
The increase in home prices has the Santa Clarita condominium market booming. In the month of October, 101 condos were bought and sold, a 6.3% increase from 2016 and an astounding 5.2% increase from the month of September.
While the condo market grows, the single-family home market has seen a decrease. 195 homes were sold in October, which is a 3.9% decrease from a year ago. This may not seem like much, but this is a staggering 10.2% decrease from the month of September.
I’m Thinking of Moving Out of My Condo or Home
If you are going to sell or buy Santa Clarita property during this upcoming holiday season, let us help you with your move! AQMS has been servicing Santa Clarita moves for over 20 years. Our company ensures your valuables arrive at your new home safe and sound. If you only need help with packing or transporting your items, we can help! We give free in-home estimates on any moving service you may need. Whether your new home is across town or across continents, our professional movers can help you get there!
Call (661) 622-2636 to set up a free in-home estimate now!