Have we Hit the Bottom?

Have we Hit the Bottom?
By Joshua Suess

So, has the housing market finally bottomed out? This is a topic where everyone seems to have a different opinion. The media certainly doesn't help clarify the situation and tends to cause more confusion for home buyers and sellers. Let's take a look at the statistics to get an unbiased, factual point of view about our local Santa Clarita real estate market.

A buyers' market is one where there are more sellers than buyers, of course, but specifically it's when there are more than six months of inventory (homes) for sale in the Multiple Listing Service. With that said, here are how many months of inventory the following price ranges have here in Santa Clarita.

· $0 - $99,000 has 9.8 months of inventory (buyers' market)

· $100,000 - $199,999 has 4.9 months of inventory (sellers' market)

· $200,000 - $299,999 has 5.5 months of inventory (sellers' market)

· $300,000 - $399,999 has 4.2 months of inventory (sellers' market)

· $400,000- $499,999 has 4.4 months of inventory (sellers' market)

· $500,000 - $599,999 has 5.2 months of inventory (sellers' market)

· $600,000 - $699,999 has 8.5 months of inventory (buyers' market)

· $700,000 - $799,999 has 12.8 months of inventory (buyers' market)

· $800,000 - $899,999 has 17.7 months of inventory (buyers' market)

· $900,000 - $999,999 has 31 months of inventory (buyers' market)

· $1,000,000 - $1,499,999 has 28.7 months of inventory (buyers' market)

· $1,500,000 - $1,999,999 has 29 months of inventory (buyers' market)

· $2,000,000 and above has 12 months of inventory (buyers' market)

* Information obtained from Tempo MLS is deemed reliable but not guaranteed.

Joshua Suess is with the Suess Home Selling Team at Re/Max 702-4640 www.SuessSellsHomes.com.