We are exactly half way through what is either a miserable or wonderful year in real estate. If you are a seller, the words “awesome” and “substantial” ring true. For buyers, words like “ridiculous” and “crazy” were far more likely in your sentences when you spoke real estate. The truth lies closer to the sellers words, though.
Right now, home prices in Santa Clarita and the entire LA County are at all-time highs. There… we got that out of the way. Good news? All signs point to this being the top. Rising interest rates are pushing more and more buyers out of the market, mercifully curtailing what seemed like an unending parade of homes going for well over asking price, in frenzied bidding wars.
So where did we all “land?” One neighborhood is up a staggering 32% over JUST A YEAR AGO. That neighborhood in Castaic is clearly not the norm. For example, whenever I look at sales figures, I like to see enough data to ensure that 3 or 4 mansion sales don’t blow up the data relating to the other 8 or 9 middle priced homes in the area, exaggerating the gains. This kinda happened here..
North Castaic has had only 14 sales there in the last 6 months. Most neighborhoods in L.A. County has SINGLE digit gains from a year ago. I researched over 80 areas in LA County, for median home prices values for ALL home types (Single family residences, condos and townhouses).
How did your neighborhood fare? Contact me for the full report, in PDF form.