The 2011 Santa Maria/Orcutt Market in Review

A look at the year just ended, tracking Single Family Residence Sales.  The total for single family home sales in 2011: 1,007.

Closed, Pending and For Sale – 2011

As indicated, the number of closed sales was up by 40% and pending sales numbers were stronger by 50%, but the inventory was down considerably, by 43%.

Average Price of For Sale Listings vs. Sold Listings 2011

Average list prices increased nearly 7% over the 12 month span, but average sold prices were down 4%.

Average Cost per Square Foot

Average price per square foot declined 6% in 2012, although things were looking up 3.5% at the from October through December.

Months of Inventory Based on Closed Sales

Down 60% in December from January, we are now averaging less than 2.5 months worth of inventory.

There you go!  If you like statistics, pie charts, graphs, etc. then I hope this post was good for you.  Our market here in the Santa Maria Valley is holding pretty steady with regard to sales, but we could sure use more inventory!  Let’s see if we can get more “traditional” sellers back into the market, and fewer short sales and bank-owned properties!  Less frustrating for everyone, that’s 100% true!

If you’re ready to jump in the market, now’s the time.  As a buyer, you can get a VA loan, if you are eligible, at only 3.85% today!  Call me at (805) 937-5777 or send an email.