Latest / Connor with Honor: AI, Real Estate and Real Life / How Santa Clarita real estate can change from a home seller's market to a home buyer's market
Transcript
- 0:00everybody it's July 15th, 2024 I'm Connor with honor this is gonna be your real estate update for Santa Clarita Valley I will tell you though before we get into the show I'd like to discuss with you one thing if you happen to know a real estate agent out there and they are communicating with the other side of the transaction and transaction my suggestion is let them know that whenever they respond to any party they should always remain professional and above reproach so do not let's not get involved in this nonsense of pointing fingers and calling names and being disrespectful any email that an agent formulate should be professional to be able to stand under scrutiny in a court of law in front of a jury of their peers so there's that here's the Santa Clarita real estate breakdown right now glasses on 466 total act is on the market currently for sale we have 15 that have entered the market in the coming soon category in the last seven days 88 properties are brand new on the market that is quite a big big increase again price changes too we've been following that trend that has also been notable and we've seen some major price changes 68 total properties having encounter that within the past seven days 18 properties back on the market 30 properties have gone active under contract 47 properties pending 49 of closed escrow this week 11 of cancelled 9 of them put on hold and 4 have been withdrawn this real estate market currently is moving rather quickly and we are noticing as real estate buyers are starting to see a little bit more in the way of inventory but the inventory is still a little bit out of reach because of the high buyer drive the other dynamic we're watching is it is taking a very small amount more time to sell listings small amount right now the information still new and the data has only been with us maybe for a week and a half of this increasing inventory we haven't had that adjustment yet but I could probably point to many cases that three to 10 days more days on market time frame take for a property to get from active on the market into escrow that's very city dependent very price dependent but just to give you an idea properties are still moving very fast we haven't had enough additional inventory to make any kind of a big change that I can actually give you those super established numbers but the point being if the trend continues where we are will be up at over 500 units for sale and not too long and 6 and 700 after that that could really change the dynamic of the Santa Clarita real estate market I'll keep you posted right now everything is business as usual sellers typically are mandating multiple offers on their properties if they're priced correctly and buyers usually have high competition parameters with other buyers out there I'm Connor with honor thank you for watching your daily July 15th, 2024 update be well Santa Clarita will talk to you soon I'm Connor with honor over and out