Pacific Crest Quarterly Market Update – 12/08 – 2/09
In housing news, the Santa Barbara County Board of Supervisors moved forward in allowing the County to buy out property necessary to connect Hummel Drive in Orcutt from Mooncrest through to Hobbs Lane. Eight property owners will be affected; four have settled on a price with the County, and four others have not. The Board supports taking the remaining property by eminent domain if necessary.
Now onto the Santa Maria and Orcutt real estate market update. My last look took place on May 13, 2007. Inventory continues to swell in this market; there were 810 homes on the market and that figure now stands at 832. On April 4, 2007, the number of active listings in Santa Maria and Orcutt was 742. Presently, there are 115 homes under contract as pending or contingent. And in the past 30 days, 223 new listings, 150 expired/inactive listings, and 309 price reductions. During that same period, only 76 homes have sold.
Remember to contact Mint Properties for all your Central Coast real estate needs. I would love to assist you in taking advantage of recent market conditions. Please contact my office today at (805) 938-9950. Also, feel free to search for Central Coast properties on my website.
*Based on the information from the Central Coast Regional MLS for the 30 days prior to this posting, May 24, 2007. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.
