Inventory Shrinking In The Santa Clarita Valley?

Today, I was apprising in Fair Oaks Ranch. I noticed that a significant amount of homes that were once offered for sale, are now off the market. When I got back to my office, I decided to run a comparative market analysis for the various areas of the Santa Clarita Valley. I took a typical sized single family home ( 1800-2200 sq.ft), with 3+ bedrooms, 2+ bathroom for the past three months. Here’s what I found:

Canyon Country
Active Listings= 55
Pending Sales= 4
Cancelled Listings= 13
Expired Listings= 16
Solds=6
Total Inventory Off The Market=39

Saugus
Active Listings=49
Pending Sales=2
Cancelled Listings=12
Expired Listings=13
Solds=14
Total Inventory Off The Market=41

Valencia
Active Listings=88
Pending Sales=10
Cancelled Listings=31
Expired Listings=23
Solds=30
Total Inventory Off The Market=94

Newhall
Active Listings=30
Pending Sales=3
Cancelled Listings=2
Expired Listings=3
Solds= 5
Total Inventory Off The Market=10

By adding up the pending sales, the cancelled listings, expired listings and the solds over the past three months, you will notice that inventory is shrinking. It will be interesting to use this same test in the next three months to see if the inventory will be even smaller or larger and try to determine if this is a trend. Stay tuned for more.