The market is moving, but how much longer until we will start building inventory levels indicative of a buyer's market in Santa Clarita CA

Hi, I'm Connor with Honor - message me here! Connor with Honor's Market Watch: Santa Clarita Real Estate Update - July 17, 2024 Welcome back to another insightful episode of Market Watch with Connor with Honor at SantaClaritaOpenHouses.com! Today’s show was nothing short of spectacular, filled with valuable insights and updates on the Santa Clarita real estate market. Your Trusted Real Estate Partner Connor MacIvor, widely known as Connor with Honor, is your local Santa Clarita real estate expert. A former first responder turned top realtor, Connor brings a unique perspective and unmatched dedication to his clients. With years of experience serving the Santa Clarita Valley community, Connor's insights are both invaluable and trusted. Market Overview In today's episode, Connor provided an in-depth analysis of the current real estate market, covering the following key points: Total Active Listings: A comprehensive breakdown of the 463 active listings, including 11 coming soon, 88 new listings, 59 price changes, 18 back on the market, 33 active under contract, 47 pending, 50 closed, 4 expired, 10 canceled, 14 on hold, and 4 withdrawn properties. Market Trends and Insights Connor highlighted the steady increase in listings over the past few weeks, noting that while the numbers are up by 30 to 40 units, it's not enough to significantly shift the market dynamics yet. Properties are still being sold as quickly as they are listed, maintaining a balanced market. Breakdown by Property Type Today's show focused on residential properties, specifically single-family residences, condominiums, and townhomes throughout Santa Clarita Valley. Connor explained the key differences between these property types: Condominiums: Typically apartment-style rectangular boxes with shared walls, ceilings, and floors. Parking situations vary by location, including covered parking, carports, or garages. Townhomes: Usually multiple-story properties with some form of private garage, often with direct or indirect access. Townhomes offer more privacy with minimal shared walls. Single-Family Residences: Standalone properties on their own lots, not touching other homes, providing complete separation from neighbors. Connor also touched on the concept of detached condominiums, which are classified differently by builders to reduce costs. Real Estate Considerations Connor shared valuable advice for buyers and sellers in today's market: Interest Rates: Current interest rates remain high with no significant reductions expected this year. Connor advised caution and patience when working with lenders and emphasized the importance of choosing the right lender before sharing personal financial information. Insurance Profiles: For attached single-family residences, it's crucial to understand the insurance implications, especially if there were past claims affecting neighboring properties. Poll Questions for the New Real Estate World Connor posed some thought-provoking questions for his audience: What would you expect to pay your listing agent in the new real estate world? What would you be willing to pay the agent representing you as a buyer? Would you be okay with having your agent also represent the homebuyer? What issues might arise from dual representation? Closing Remarks Connor with Honor concluded the show by inviting viewers to visit SantaClaritaOpenHouses.com for all their real estate needs. He thanked everyone for watching and reaffirmed his commitment to providing top-notch real estate services in the Santa Clarita Valley. Youtube Channels: Conner with Honor - real estate Home Muscle - fat torching From first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle. Dive into Real Estate with Connor with Honor: Santa Clarita's Trusted Realtor & Fitness Enthusiast Real Estate: Buying or selling in Santa Clarita? Connor with Honor, your local expert with over 2 decades of experience, guides you seamlessly through the process. Subscribe to his YouTube channel for insider market updates, expert advice, and a peek into the vibrant Santa Clarita lifestyle. Fitness: Ready to unlock your fitness potential? Join Connor's YouTube journey for inspiring workouts, healthy recipes, and motivational tips. Remember, a strong body fuels a strong mind and a successful life! Podcast: Dig deeper with Connor's podcast! Hear insightful interviews with industry experts, inspiring success stories, and targeted real estate advice specific to Santa Clarita.