Bell Canyon January Real Estate Update
Bell Canyon January Real Estate Update
Inventory Level Today:
9 Active Listings
9 Listings in Escrow
January 2021 New Listings
5 New Listings
January 2021 Listings Put in Escrow
January 2021 Closed Sales
Here’s a link to the current inventory:
BELL CANYON QUARTERLY SALES ACTIVITY
December San Fernando Valley Home Sale Overview
From Southland Regional Association of Realtors:
Southland Association of Realtors December 2020 SFV Real Estate Highlights
San Fernando Valley 2020
Sets Record Home, Condo Prices; Sales Lag
- San Fernando Valley home and condominium sales surpassed 2019 totals from September through December, a remarkable recovery after setting a record low in May due to the Coronavirus lockdown, but the year end rally still left sales at an annual record low, the Southland Regional Association of REALTORS® reported today.
- REALTORS® assisted 4,921 single-family home sales in 2020, down 4.9 percent from the prior year, and 1,799 condominium transactions, off 1.5 percent. Both totals marked the third consecutive annual decline, with the single-family home tally setting a record low that goes back to 1985, and the condo total the third lowest on record.
- The combined 6,720 home and condo sales throughout the San Fernando Valley yielded $5.9 billion for the local economy, not including the millions of dollars that real estate sales generate in landscaping, home repairs, and furniture and appliance purchases.
- “After the initial shock, the pandemic brought buyers out in numbers,” said Diane Sydell, president of the Association. “As an essential service, REALTORS® initially struggled, yet soon adapted to mandated safety protocols in the showing of properties and marshaled technology, with virtual tours, that enabled buyers to make informed decisions. San Fernando Valley Sales Press Release DECEMBER 2020 Excluding Extended Area (Continued) • “But what a ride! 2020 will be a year to remember,” she said,“ including multiple offers in abundance due to a depleted inventory.”
- 2020 concluded with a record-low 700 active listings for the Valley and a 24.1 percent decline in the annual average per month listing total. The total represented a 0.9-month supply, while the market typically needs a 5- to 6-month stock to provide some balance.
- “The listing shortage, record low interest rates, and heavy buyer demand pushed prices to record levels,” said Tim Johnson, the Association’s CEO.
- The single-family home annual price shot up 11.1 percent over 2019 to a record $788,250, while the condominium annual price of $470,208 also set a record high, up 7.0 percent over 2019. • Even with unique forces still in play, 2021 is primed to be busy: there were 570 pending escrows — a measure of future closed escrows — at the end of December, an increase of 24.7 percent over 2019. The Southland Regional Association of REALTORS® is a local trade association with more than 10,300 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.
If you are a homeowner looking to sell and purchase, sellers are now more willing to take contracts from buyers contingent on selling. If you are considering selling at this time, we would highly recommend sitting down with your realtor (hopefully us) and discussing your specific unit and how it compares to the current inventory. We’d love to interview with you if you do not currently have a realtor.
Values are still at or near peak values, but the sales climate is changing.
We’d recommend anyone who has their property as a rental contact me to discuss the market conditions before you decide to rent the property out for another year or sell.
I’d love to help you make an informed decision with no pressure or obligation. This is why it is important to consult with someone who is an expert in the complex so you don’t waste time on the market at a price that the market will not respond to. We can also advise on what improvements can net you the best ROI when it comes time to sell.
It may be a good time to consider selling for anyone thinking about taking their equity and purchasing a new home. There are still many opportunities out there for anyone looking to move up to a bigger home or move closer to shorten your commute.
See what people are saying about Kevin Godley!
“I could not be happier with the process from start to finish with Kevin. He was very aggressive in marketing the home and has a broad list of contacts that helped get many showings immediately and resulted in multiple offers. Kevin also did a great job through escrow and close by making the process as easy and painless as possible. I strongly recommend Kevin!”
–6 Silver Spur Ln, Bell Canyon, CA 91307
Pinnacle Estate Properties
If your property is currently listed with another Broker, this is not intended as a solicitation of that listing. This information is based on all homes closed in Bell Canyon as reported through the Southland Regional Association of Realtors multiple listing service.