Bell Canyon February Market Update

Bell Canyon February Market Update

February Bell Canyon Real Estate Update

 

Inventory Level Today:

4 Active Listings

5 Listings in Escrow

 

February New Listings

1 New Listings

 

February Listings Put in Escrow

4 Pending

 

February Closed Sales

1 Sales

 

Here’s a link to the current inventory:

 

Bell Canyon Current Inventory

 

BELL CANYON QUARTERLY SALES ACTIVITY

 

2022 TOTALS

1st Quarter (QTD) 2nd Quarter 3rd Quarter 4th Quarter
# of Sales  4
Highest Sale Price $4,200,000
Lowest Sale Price  $1,425,000

 

2021 TOTALS

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 
# of Sales  14 21 13         18 
Highest Sale Price $3,450,000 $4,900,000 $2,880,000 $3,650,000
Lowest Sale Price  $1,140,000 $1,465,000 $1,189,000 $1,200,000

 

2020 TOTALS

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 
# of Sales  6 5 13 18
Highest Sale Price $3,850,000 $2,250,000 $2,525,000 $2,875,000
Lowest Sale Price  $930,000 $1,120,000 $1,100,000 $990,000

 

2019 TOTALS

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 
# of Sales  5 5 5 7
Highest Sale Price $2,300,000 $2,350,000 $2,255,000 $4,150,000
Lowest Sale Price  $860,000 $950,000 $950,000 $1,000,000

 

Southland Association of Realtors January 2022 

SFV Real Estate Highlights

 

Single -Family Home Price Inches Closer to $1 Million.

 

The median price of single -family homes that changed owners during January set a record high at $967,000, the Southland Regional Association of Realtors reported today. It was up 15.8 percent from a year ago, breaking the prior record of $960,000 set in September. 

 

The condominium median price of $570,000 was up 17.5 percent over January 2021, yet 1.7 percent below the condo record high of $580,000 set in October. “With homes selling within a few weeks, limited inventory, continued strong demand, and interest rates, while higher than a few weeks ago, still very attractive, the upward pressure on prices remains unrelenting,” said Jeff Phillips, president of the 11,000 – member Southland Regional Association of Realtors. 

 

“Prices will continue rise this year, unless owners realize now is a great time to sell and listings expand dramatically. I’d be surprised if either happened.” A total of 443 home and condominiums were listed for sale during January throughout the San Fernando Valley. 

 

San Fernando Valley Sales Press Release January 2022 Excluding Extended Area (Continued) That was up from the record low of 381 listings in December, yet down 33.1 percent from a year ago. “Listings have been on a steady decline for multiple years,” said Tim Johnson, the Association’s chief executive officer. “Owners who may be hesitating to sell for fear their property taxes might go up with the purchase of a replacement residence may find that is not necessarily the case because of Proposition 19, a new law that took effect Feb. 16.” Johnson urged owners to contact their Realtor or local tax assessor to learn about Proposition 19. Yet in the absence of a change of heart by current owners, Johnson said only a massive, ongoing building campaign can provide the inventory needed to give buyers in all price ranges more options and ease pressure off prices. Local Realtors assisted in 297 single-family home sales during January, according to SRAR statistics. 

 

That was down 27.4 percent from a year and got the year off to one of its slowest starts on record. “You can’t sell what you don’t have,” said Phillips. “The market may slow slightly as rates rise, yet sales likely will remain solid and we believe sales will pick up as the year progresses.” The 443 active listings reported by the Association represented a 1.0-month supply at the current pace of sales. Pending escrows, an indicator of future activity, totalled 439, which was down 27.6 percent from January 2021. 

 

The Southland Regional Association of REALTORS® is a local trade association with 11,000 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!

 

The dictionary does not have enough words to describe the extraordinary service, attention and knowledge of my Agent, Kevin Godley and his great team, Team Godley. Professionalism is Kevin Godley personified. I can only say that is you are planning to buy or sell, especially in Bell Canyon, you need to contact Kevin Godley. Thank you Kevin. I am forever grateful to you.

 

-Maureen S. Sold Hackamore Lane Bell Canyon Home with Kevin

 

Kevin Godley

Realtor 

Pinnacle Estate Properties

818-402-9763

kevin.godley@gmail.com

Lic#01216088

 

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.