Latest / Connor with Honor: AI, Real Estate and Real Life / Canyon Country real estate market update by the first responder realtor it's a slowing sellers market

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Canyon Country real estate market update by the first responder realtor it's a slowing sellers market · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody, let's jump into Canyon Country today, November 15th, 2024.
• 0:03
  SPEAKER_00: It's the 320th day of the year, 46th week of 2024.
• 0:08
  SPEAKER_00: Of course, I every day I do a separate daily update for each one of the Santa Clarita Valley cities, and there are six of those besides Acton and Aqua Dulce.
• 0:19
  SPEAKER_00: So we have Canyon Country, Castayc, New Hall, Saga, Stevenson Ranch, and Valencia.
• 0:24
  SPEAKER_00: Today on Friday, I do Canyon Country, so let's talk about what's happening and I'll do a deep dive.
• 0:28
  SPEAKER_00: We'll talk about what's sold, what's active.
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  SPEAKER_00: Access on that is going to be everything at Santa Clarita Openhouses.com.
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  SPEAKER_00: Let's break down the current statistics from the 128 active and coming soon residential listings in Canyon Country, providing you a snapshot of the market.
• 0:45
  SPEAKER_00: Now, if you go to Santa Clarita Openhouses.com, it's unlocked.
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  SPEAKER_00: You can see all of them.
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  SPEAKER_00: As soon as a property hits the market, it'll be reflected on that site, and you'll be able to check them out.
• 0:56
  SPEAKER_00: Total active listings, currently 128 active residential listings in Canyon Country.
• 1:00
  SPEAKER_00: That's going to cover single family residences, condos, townhomes, and residential real estate, one to four units.
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  SPEAKER_00: Single family residence, these listings from the majority cover a wide price range from approximately 700 grand on the low end up to 2.75 million on the high end.
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  SPEAKER_00: That's definitely going to cater to varying preferences and budgets.
• 1:20
  SPEAKER_00: For condominians and townhomes, they're more affordable with prices generally ranging from around$300 at the low end to$600,000.
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  SPEAKER_00: This price point is attractive for first-time buyers and those seeking those low the low maintenance option.
• 1:33
  SPEAKER_00: Now for closed sales in the last 60 days, a total of approximately 45 properties have sold in the last couple months.
• 1:40
  SPEAKER_00: This represents moderate market activity as we move into the year-end time frame.
• 1:46
  SPEAKER_00: The median price for homes in Canyon Country was around$740,000, which reflects a steady demand in the market for the area.
• 1:54
  SPEAKER_00: Properties in Canyon Country are staying on the market for an average of 44 days.
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  SPEAKER_00: Single family homes tend to take slightly longer to sell than condos, which move more quickly due to their accessible pricing.
• 2:07
  SPEAKER_00: And of course, homes are generally selling at a median price of$440 per square foot, although this varies based on location, age, and features.
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  SPEAKER_00: One bedroom sold for an average of$363, two bedrooms around$455.
• 2:22
  SPEAKER_00: Bedroom residences around$700,$4, around$820, and$5 plus are generally above a million dollars.
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  SPEAKER_00: Again, there's going to be variations in that, but at least you get an idea.
• 2:34
  SPEAKER_00: For the sellers out there, utilizing a 30-day price adjustment, if your property's been on the market for over 30 days, consider that minor price reduction.
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  SPEAKER_00: This adjustment can boost the visibility by triggering those fresh alerts.
• 2:48
  SPEAKER_00: So people are getting listings emailed to them typically by their agent or by whatever syndication site they're playing on.
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  SPEAKER_00: Once that adjustment is made, they get it again.
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  SPEAKER_00: So it gives them a second time.
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  SPEAKER_00: Also, as far as online exposure, photographs and virtual tours are a must.
• 3:05
  SPEAKER_00: You definitely want your property to stand out.
• 3:07
  SPEAKER_00: And then, of course, pricing slightly below market value.
• 3:11
  SPEAKER_00: In some cases, that's a great thing for agents to offer.
• 3:15
  SPEAKER_00: Just be careful if you go too low, you might end up getting a much lower than your hoping for price.
• 3:22
  SPEAKER_00: For buyers out there, you definitely want to make sure you're pre-approved.
• 3:25
  SPEAKER_00: Ensure all your documentation is prepared, including your proof of funds.
• 3:29
  SPEAKER_00: A complete offer package sends signals to sellers you're serious and ready to act, giving you stronger position in competitive situations.
• 3:38
  SPEAKER_00: And of course, accommodating the seller's preferred closing timeline or offering a rent back period can make your offer more appealing, especially if flexibility is a priority to a seller.
• 3:48
  SPEAKER_00: So besides price, there are other strategies and tactics you can use to get your offer up to the top so it's competitive with the others.
• 3:58
  SPEAKER_00: Also, you can remove, reduce contingency time frames.
• 4:02
  SPEAKER_00: You don't want to move a lot.
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  SPEAKER_00: You just have to be careful because those are your rights.
• 4:05
  SPEAKER_00: So watch out for that.
• 4:06
  SPEAKER_00: If you're having people tell you to remove contingencies and give up specific rights like time frames and inspections, I would take a step back and maybe go seek someone out if you have family.
• 4:18
  SPEAKER_00: Not many of us do, but some of us have great family.
• 4:20
  SPEAKER_00: You can go talk to the family and maybe see if that's maybe a good move.
• 4:24
  SPEAKER_00: All right, so in conclusion, solid options in Canyon Country this week for both buyers and sellers.
• 4:31
  SPEAKER_00: Also, if you want to get a better guide on everything, Santa Clarita, I did do a specific book.
• 4:37
  SPEAKER_00: Brand new edition just came out, Santa Clarita Guide.
• 4:40
  SPEAKER_00: You can go to Santa Clarita Openhouses.com forward slash book, and you'll be able to get the Kindle edition.
• 4:46
  SPEAKER_00: As far as today goes, the Kindle Edition's ready.
• 4:50
  SPEAKER_00: I am working on the cover for the print edition, but it should be done.
• 4:54
  SPEAKER_00: Well, probably by noon today.
• 4:56
  SPEAKER_00: I have to go in and make it a different size.
• 5:00
  SPEAKER_00: I hope you're well.
• 5:00
  SPEAKER_00: Thank you so much for checking this out.
• 5:02
  SPEAKER_00: And we will be back, of course, tomorrow with our Cast Diac update.
• 5:06
  SPEAKER_00: Saturday's Castdac real estate updates.
• 5:09
  SPEAKER_00: Please check it out.
• 5:10
  SPEAKER_00: Throughout the week, we have Valencia, Canyon Country, Saugus, Stevenson Ranch, New Hall, Castac.
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  SPEAKER_00: All of the cities are represented, and I'm happy to serve.
• 5:19
  SPEAKER_00: Be well.
• 5:20
  SPEAKER_00: We'll talk to you soon.
• 5:21
  SPEAKER_00: I'm Connor with Honor, over and out.