Santa Maria – Orcutt Monday Market Update

GraphicLast week was better with new inventory, but what happened to closings?  The closings reflect sales of 30-60 days ago, as far back as March and as recent as April.  Maybe we will see a surge next week, but it must have been pretty quiet around the title companies last week… This week, I have added a new category of sales that will help in understanding total contract sales.  Because we have returned to a “normal” market, and prices have gone up, more homeowners have the equity to attempt a “move-up” again.  They still need to sell first before buying, but since they are now able to do so, sellers are starting to accept offers that contain that contingency.  This past week there were 2 sellers who accepted offers based on the sale of the buyers’ homes.  One is a Foxenwood Estates home listed at $549,000 and the other is a condo in Santa Maria, priced at $172,000.  I think we will be seeing more of these as we roll into the summer months, so I’m adding this category for accuracy, with regard to the actual number of sales.


May 4 - May 10  2014










May 05 - May 11 2013









It’s so great to look back at a year ago and see that our inventory has doubled!  So much healthier, all the way around.

For more information about the local Santa Maria Valley real estate market, or to start shopping for your next home, please give me a call at (805)937-5777 or complete the Contact form below.  As always, your comments are welcome too, and there’s a space for them just below the Contact form!


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