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Reported January home sales best in six years

Posted: February 21, 2013 5:10 p.m.
Updated: February 21, 2013 5:10 p.m.
 

January home sales in the Santa Clarita Valley rose 2.1 percent from the same month a year ago, and the number of sales was the highest recorded since 2007, the Southland Regional Association of Realtors reported Thursday.

A total of 149 single-family homes were sold last month, according to the association. Last year, 146 homes were sold in the month of January.

Though home sales were up compared to January last year, there were 98 fewer home sales last month than in December 2012.

Bob Khalsa, president of the association’s Santa Clarita Valley division, said the decrease is explained by ordinary market trends.

“While not as dramatic as December, January home sales produced the best total for the month in six years,” Khalsa said in a news release. “There are plenty of buyers out there, traditional as well as investors, yet inventory is so low and lending standards still so high that we’re unable to satisfy demand.”

The average price of January home sales increased almost $7,000 between last year and this year. The median sale price remained unchanged at $360,000.

Though home sales are up compared to January last year, condominium sales decreased, the association reported.
There were five fewer condominium sales in January 2013 than in January 2012, according to the association.

But the units that sold did so at a much higher price: The average price of units sold was almost $50,000 higher in January 2013 than in January 2012 and the median price was almost $20,000 higher, coming in at $243,900 and $206,700, respectively.

 

 

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