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Valencia: How is Your Neighborhood Doing?

Valencia Homes

Selling your Valencia home can be the biggest payday of your life. The prospect is so exciting, many people rush into the procedure without taking the time to get to know the housing market performance for their neighborhood. To avoid disappointments or crucial mistakes on your listing, it pays to take a little time to get to know what to expect and what has been going on recently in your area.

According to 2015 realty data that Dippy has collected, the average selling price for a home in Valencia, based on 1,162 that were sold last year, is $505,000. This is a 1% increase from 2014; while not an eye-opening change, it is indicative of a healthy market that can be expected to increase overtime. The average selling price was about $545,000, meaning sellers were getting around 8% less than their initial listing prices. Once again, this is not a dramatic difference to be worried about, and likely suggests that buyers are choosing to work with realtors more often than not.

As of spring of 2016, there are close to 150 homes listed for sale, a drop of 9% around this time last year. This decrease could be due to the fact that so many homes sold last year – a good thing for buyers and a great thing for sellers! Speaking of good news, only 16% of on-market homes are currently in distress, meaning it is under a foreclosure order or has been advertised for sale by the mortgagee. Four years ago, 54% of homes on the market were in distress.

What Does This Information Mean to You?

Overall, the housing market for Valencia is promising. If you are selling your home, there are certainly people out there looking to buy. If you are buying your home, you may be able to negotiate lowering the asking price and still close quickly. Success from either side depends on how you approach and handle the situation. If you want to take out the guesswork, let Santa Clarita Realtor Dippy China be your guide. With a strong reputation all throughout Santa Clarita, and the world, you know you can depend on her to treat you and your property, whether you are buying it or selling it, right.

Contact Dippy today or fill out an online real estate consultation form now.