Is It a Bad Time to Buy or Sell a Home in Santa Clarita

Lately, nearly every real estate conversation seems to begin with the same question:

“Should I wait?”

Buyers are wondering whether mortgage rates will come down. Sellers are worried that there may not be enough qualified buyers. Homeowners are also watching insurance costs, home prices and the overall economy.

Those concerns are understandable. But waiting for every part of the market to feel perfect may mean waiting a very long time.

What buyers are worried about

Mortgage rates are once again one of the biggest concerns for buyers. At the end of July, the national average for a 30-year fixed mortgage was reported at approximately 6.76%.

When rates rise, monthly payments rise too. That can reduce purchasing power and make buyers feel as though they should put their plans on hold.

However, buyers have something today that they did not have during the highly competitive market of a few years ago: more choices and, in many cases, more negotiating room.

Homes in Santa Clarita have recently been taking around 45 days to sell, compared with the extremely fast sales we experienced during the peak market.

That can give buyers time to compare homes, complete their inspections and negotiate terms instead of feeling pressured to make an immediate decision.

What sellers are worried about

Sellers are asking a different question:

“Will my home actually sell?”

The answer is yes, homes are still selling. But buyers are paying close attention to price, condition and value.

Santa Clarita single-family homes had a median sale price of approximately $880,000 in June, about 2% lower than the previous year.

This does not mean home values are collapsing. It means sellers need to be realistic about today’s competition.

A home that is priced correctly, prepared well and marketed consistently can still attract serious buyers. A home priced according to last year’s expectations may spend more time on the market and eventually require a price adjustment.

The first few weeks matter. Sellers should enter the market with a strategy, not simply place a sign in the yard and hope for the best.

The concern buyers and sellers share

Affordability is not only about the sales price or mortgage rate anymore.

California homeowners are also dealing with higher insurance premiums and fewer coverage options. Recent research found that California home insurance premiums have risen significantly since 2020, while enrollment in the California FAIR Plan has nearly tripled.

Buyers should investigate insurance availability and estimated costs early in the home-buying process. Sellers may also benefit from gathering information about their current coverage before listing, especially when a property is located near a higher fire-risk area.

An experienced real estate agent should help identify these questions early, rather than discovering an insurance problem a few days before closing.

So, should you wait?

There is no single answer that fits every homeowner.

A buyer with stable income, manageable debt and plans to remain in the home for several years may find that today’s increased selection creates opportunities.

A seller who has substantial equity and a clear reason for moving may still be in an excellent position, especially if the next home better fits their current lifestyle.

The decision should be based on your finances, your timeline and your reason for moving, not simply on a headline about interest rates.

Real estate has never been about perfectly timing the market. It is about making a thoughtful decision when the move makes sense for your life.

My honest take

The Santa Clarita market is not frozen, and it is not falling apart. It has simply become more selective.

Buyers are taking their time. Sellers need to prepare and price carefully. Both sides need accurate information and realistic expectations.

I have lived in Santa Clarita since 1981 and have helped buyers and sellers navigate changing markets since 1996. Markets change, but people still move because families grow, jobs change, relationships change, parents need help and homes no longer fit the lives of the people living in them.

Before deciding to buy, sell or wait, let’s look at the numbers that apply to your specific situation.

Wendy Gundry
RE/MAX of Santa Clarita
Local Since 1981
Helping Families Buy and Sell Since 1996
Serving Your Real Estate Needs at a Higher Level
wendygundry.com