Southland Regional Association of REALTORS

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ADVERTISING SUPPLEMENT Rising Demand for Homes Near Public Transit Low Rates Fuel Statewide Sales Surge Amid the most favorable mortgage interest rates in nearly three years, Califormia's housing market recorded during September a third consecutive year-over-year sales increase, the Califomia As- sociation of Realtors reported recently. The housing market has been performing better ... in the second half of 2019, with both sales and prices up as mortgage rates remain near their three-year lows,"said C.A.R. President Jared Martin. "Pending sales have been on an upward trend with a near-10 percent increase over a year ago, making it the largest gain in three years. The solid improvement in pend- ing sales suggests that the market may see more sales gains in the coming months After hitting another recond high in August, the median price slipped from August's $617,410 to $605,680 in September. Last month's Southland Regional Association of Realtors By Dan Tresieras, President, and David Walker Neighborhoods located within a half mile of public transit services outperformed those in areas farther from public transit accord- ing to a report released recently that studied seven metropolitan areas, including Los Angeles. The study-a joint effort of the National Association of Realtors and the SOUTHLAND REGIONAL ASSOCIATION OF REALTORS', INc. Transportation costs in transit-oriented areas are significantly lower than other regions, with an average annual savings of $2,500 to $4,400 for the typical household. One in four households in ventions and housing affordability for properties near transit. Access to public transportation is an extremely valuable community amenity that increases the functionality and at- tractiveness of neigh borhoods communities more desirable placesmaking Sepeember 2019 Median Sales Price of Existing Single-Family Homes Sales Price Sales MTMYTYSMTMN YTY C C Price Sales Access to public transport makes Sept Aug Sept State/Region/County 2013 2019 2014 Chg Chg American Public Transportation Association highlighted the Realtor Dan Tresierras, critical role public Car Single family homes 1. 605680 617410 $578420 4% 0% 58W nearby com munities more desirable places to live, work and raise a family," said NAR 2019 First Vice President Charlie to live, work and raise a family close proximity to transit do not own a vehicle, according to the study. 2111.7% Calf. CondoTownhomes 60000 000 470,000 1.7 9 48%104 Les Angeles Metro Area 545000 s545.000 s520,000 9.2% 2019 SRAR President Central Coast s695.000 $8000 $678,990 04% 24% 304 66% PROPERTY NEAR TRANSIT HAS HIGHER APPRECIATION Oppler transportation plays in determining real estate values, revealing that commercial and residential real estate market sales thrive when residents have mobility options close by. The report explored seven metro politan regions-Bos ton, Eugene; Hart- ford, Los Angeles Minneapolis-St. Paul, Phoenix, and Seattle, that provide access to heavy rail, light rail, commuter rail and bus rapid transit Residential properties within these areas had a higher median sale price of 4-24 percent between 2012 and 2016, the report found Commercial property values also experienced gains in the studied cities, where four of the regions saw median sales price per square foot increase between 5 and 42 percentage points in areas close to public transit. Data also showed that residents of transit-oriented areas experience lower transportation costs, have higher access to jobs and are less likely to own cars. 340250 oaN Central Valley $341000 5325,000 47% 13% 75% Public transit's benefits go beyond moving people from point A to point B,"said inand Empire 4611.1% 385000 (2012-2016) 38000 $368000 13 56N 44153 62 San Francisco Bay Area s80,000 $900000 s930,000 22% INCREASED HOME VALUES MEDIAN SALES PRICE INCREASES WERE INCREASED VALUE OF OFFICE SPACE median price was up 4.7 percent from $578,420 in September 2018. The annual price gain was the largest in nearly a year. "Despite having the largest annual gain in the last 30 months, sales remained just slightly above the 400,000 benchmark and have not shown meaningful growth in the last few years, said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. "As such, while low mortgage rates have motivated buyers to enter the market in the short term, we should be mindful that economic uncertainties, supply constraints and low housing affordability could continue to hold demand back in the long run. APTA President and CEO Paul PSkoutelas. "Public transporta tion is a valuable investment in our 4-24% HIGHER NEAR TRANSPORTATION HIGHEST GAINS NEAR RAPID RAIL TRANSIT BRT. AND COMMUTER RAIL communities, our businesses, and our country. Public- transportation gets people to jobs and educational MEDIAN SALES PRICE PER SQUARE FOOT OF OFFICE PROPERTIES INCREASED in regions senved by mutiple tranuit modes 5-42% opportunities and helps businesses attract employees and customers. Neighborhoods with high frequency public transportation are in high demand While property values and rents have risen, contrib- uting to a healthy lcal econmy, the rapidly increasing demand for hous ing near public transit has resulted in constrained housing supplies. The Southland Regional Association of Realtors isa local trade association with more than 10.300 members serving the San Femando and Santa Clarta Valeys. SRAR is one of the lagest local associations in the nation INCREASED DEMAND FOR RENTALS NEAR TRANSIT MORE IN PUBLIC TRANSIT STATION AREAS RENT PRICE INCREASES WERE SPONSOR A CHILD IN NEED 2-14% EMPLOYERS PREFER TO LOCATE IN URBAN CORES HIGHER IN PUBLIC TRANSIT STATION AREAS RENTAL UNITS ADDED ACROSS ALL 7STUDY EoiONS 40,500 TO ATTRACT TALENT THESE HOUSEHOLDS SPEND Ine $2,500-$4,40o $25 lin 4HOUSEHOLDS NEAR TRANSIT DOES NOT OWN A VEHICLE ON TRANSPORTATION Eah y wh pon ef he SAR Chun Toudon SARacdo S oal school ao he San Faande Vlley to pve th aml d hpy dy non cate Is D co e RAR O Ns we ybwld k v SCl p y i y The seven sample areas were ex amined by residential and commercial sales performance, rent, neighborhood characteristics, local govenment inter- e Hobal chor y p of h h Tcamnt tospo hild Ema esGh foa Your p d R Car Fo 432374 THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.com REALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of Ethics EALTOR ADVERTISING SUPPLEMENT Rising Demand for Homes Near Public Transit Low Rates Fuel Statewide Sales Surge Amid the most favorable mortgage interest rates in nearly three years, Califormia's housing market recorded during September a third consecutive year-over-year sales increase, the Califomia As- sociation of Realtors reported recently. The housing market has been performing better ... in the second half of 2019, with both sales and prices up as mortgage rates remain near their three-year lows,"said C.A.R. President Jared Martin. "Pending sales have been on an upward trend with a near-10 percent increase over a year ago, making it the largest gain in three years. The solid improvement in pend- ing sales suggests that the market may see more sales gains in the coming months After hitting another recond high in August, the median price slipped from August's $617,410 to $605,680 in September. Last month's Southland Regional Association of Realtors By Dan Tresieras, President, and David Walker Neighborhoods located within a half mile of public transit services outperformed those in areas farther from public transit accord- ing to a report released recently that studied seven metropolitan areas, including Los Angeles. The study-a joint effort of the National Association of Realtors and the SOUTHLAND REGIONAL ASSOCIATION OF REALTORS', INc. Transportation costs in transit-oriented areas are significantly lower than other regions, with an average annual savings of $2,500 to $4,400 for the typical household. One in four households in ventions and housing affordability for properties near transit. Access to public transportation is an extremely valuable community amenity that increases the functionality and at- tractiveness of neigh borhoods communities more desirable placesmaking Sepeember 2019 Median Sales Price of Existing Single-Family Homes Sales Price Sales MTMYTYSMTMN YTY C C Price Sales Access to public transport makes Sept Aug Sept State/Region/County 2013 2019 2014 Chg Chg American Public Transportation Association highlighted the Realtor Dan Tresierras, critical role public Car Single family homes 1. 605680 617410 $578420 4% 0% 58W nearby com munities more desirable places to live, work and raise a family," said NAR 2019 First Vice President Charlie to live, work and raise a family close proximity to transit do not own a vehicle, according to the study. 2111.7% Calf. CondoTownhomes 60000 000 470,000 1.7 9 48%104 Les Angeles Metro Area 545000 s545.000 s520,000 9.2% 2019 SRAR President Central Coast s695.000 $8000 $678,990 04% 24% 304 66% PROPERTY NEAR TRANSIT HAS HIGHER APPRECIATION Oppler transportation plays in determining real estate values, revealing that commercial and residential real estate market sales thrive when residents have mobility options close by. The report explored seven metro politan regions-Bos ton, Eugene; Hart- ford, Los Angeles Minneapolis-St. Paul, Phoenix, and Seattle, that provide access to heavy rail, light rail, commuter rail and bus rapid transit Residential properties within these areas had a higher median sale price of 4-24 percent between 2012 and 2016, the report found Commercial property values also experienced gains in the studied cities, where four of the regions saw median sales price per square foot increase between 5 and 42 percentage points in areas close to public transit. Data also showed that residents of transit-oriented areas experience lower transportation costs, have higher access to jobs and are less likely to own cars. 340250 oaN Central Valley $341000 5325,000 47% 13% 75% Public transit's benefits go beyond moving people from point A to point B,"said inand Empire 4611.1% 385000 (2012-2016) 38000 $368000 13 56N 44153 62 San Francisco Bay Area s80,000 $900000 s930,000 22% INCREASED HOME VALUES MEDIAN SALES PRICE INCREASES WERE INCREASED VALUE OF OFFICE SPACE median price was up 4.7 percent from $578,420 in September 2018. The annual price gain was the largest in nearly a year. "Despite having the largest annual gain in the last 30 months, sales remained just slightly above the 400,000 benchmark and have not shown meaningful growth in the last few years, said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. "As such, while low mortgage rates have motivated buyers to enter the market in the short term, we should be mindful that economic uncertainties, supply constraints and low housing affordability could continue to hold demand back in the long run. APTA President and CEO Paul PSkoutelas. "Public transporta tion is a valuable investment in our 4-24% HIGHER NEAR TRANSPORTATION HIGHEST GAINS NEAR RAPID RAIL TRANSIT BRT. AND COMMUTER RAIL communities, our businesses, and our country. Public- transportation gets people to jobs and educational MEDIAN SALES PRICE PER SQUARE FOOT OF OFFICE PROPERTIES INCREASED in regions senved by mutiple tranuit modes 5-42% opportunities and helps businesses attract employees and customers. Neighborhoods with high frequency public transportation are in high demand While property values and rents have risen, contrib- uting to a healthy lcal econmy, the rapidly increasing demand for hous ing near public transit has resulted in constrained housing supplies. The Southland Regional Association of Realtors isa local trade association with more than 10.300 members serving the San Femando and Santa Clarta Valeys. SRAR is one of the lagest local associations in the nation INCREASED DEMAND FOR RENTALS NEAR TRANSIT MORE IN PUBLIC TRANSIT STATION AREAS RENT PRICE INCREASES WERE SPONSOR A CHILD IN NEED 2-14% EMPLOYERS PREFER TO LOCATE IN URBAN CORES HIGHER IN PUBLIC TRANSIT STATION AREAS RENTAL UNITS ADDED ACROSS ALL 7STUDY EoiONS 40,500 TO ATTRACT TALENT THESE HOUSEHOLDS SPEND Ine $2,500-$4,40o $25 lin 4HOUSEHOLDS NEAR TRANSIT DOES NOT OWN A VEHICLE ON TRANSPORTATION Eah y wh pon ef he SAR Chun Toudon SARacdo S oal school ao he San Faande Vlley to pve th aml d hpy dy non cate Is D co e RAR O Ns we ybwld k v SCl p y i y The seven sample areas were ex amined by residential and commercial sales performance, rent, neighborhood characteristics, local govenment inter- e Hobal chor y p of h h Tcamnt tospo hild Ema esGh foa Your p d R Car Fo 432374 THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.com REALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of Ethics EALTOR