How is the Santa Clarita Real Estate Market Performing?

The Santa Clarita real estate market in February 2025 has shown some interesting trends. Compared to last year, home prices have increased by 3%, while condo prices have declined by 3%. These shifts reflect the impact of rising interest rates and higher HOA fees, driven by increasing insurance costs.

Home Prices Continue to Rise

Santa Clarita single-family home prices remain strong, showing a 3% year-over-year increase. Sellers are still getting good prices, but homes are taking longer to sell, with the average days on market reaching 50 days. Despite this, demand for homes remains steady, contributing to 4.4 months of inventory—a bit lower than expected given the number of active listings.

Condos Face Challenges

Unlike single-family homes, condo prices have dropped by 3% year-over-year. This decline is largely due to higher mortgage rates and increasing HOA fees, making condo ownership less appealing compared to renting. Many buyers are opting to rent instead, as rents are currently lower than a typical condo mortgage payment.

Market Inventory and Buyer Options

The Santa Clarita housing market continues to offer more choices for buyers with an increased number of active listings. Despite having 4.4 months of inventory, it still feels like more homes are on the market than the data suggests. Looking ahead, March 2025 is likely to see an uptick in inventory, giving buyers even more opportunities.

How February 2025 Compares to January 2025

Looking back at January 2025’s market update, the market continues to evolve. While home prices have remained strong, condos have faced downward pressure. The longer time on market suggests that sellers need to be patient, while buyers can take advantage of slightly more negotiating power.

What’s Next for Santa Clarita Real Estate?

  • Home prices are likely to remain stable, especially for single-family homes.
  • Condo sales may remain sluggish, especially if HOA fees continue to climb.
  • Inventory should increase in March 2025, giving buyers more options.
  • Sellers need to be strategic with pricing to attract buyers in a market with longer selling times.

As your local Santa Clarita real estate expert, I am dedicated to keeping you informed. If you’re thinking about buying or selling a home in Santa Clarita, don’t hesitate to reach out. Visit Home661.com for the latest real estate insights and personalized assistance!