Valley home sales surge as prices drop

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Santa Clarita Valley home sales were up 78% in October compared with the same month last year, the Southland Regional Assn. of Realtors reports. In contrast with October’s 296 transactions, January had a low of 99 sales and June 2005 set the high mark with 405 sales. Prices, down 22.5% from a year ago, were credited with fueling the October sales figures.

Meanwhile, the San Fernando Valley saw a 110.5% jump in sales in October from a year ago, with a 30.5% drop in prices of single-family homes from the same month a year ago. Those 745 sales represent a 4.5% increase from September. The low point was 323 sales in January. The trade group’s statistics go back to the mid- to late 1980s.

-- Lauren Beale

website Redfin. Credit: Peter Viles