Santa Maria & Orcutt Real Estate Market Update

In local housing news, the Santa Maria Times reports that the Santa Maria City Council voted to increase fees for new homes, as well as for additions to existing homes. According to the article, the previous fee structure would result in a charge of $20,788 for a 1901 sq. ft. home; and under the new fees schedule $23,741 would be due to the City. The fees are charged per square foot with a cap at 3,000 sq. ft., to avoid discouraging people from bulding larger homes. Apparently, a spirited discussion took place between Councilwomen Hilda Zacarius and Alice Patino regarding the afforadable housing impact of the new fees. Check it out.

Now onto the Santa Maria and Orcutt real estate market update. My last snapshot was taken on April 18, 2007. Inventory continues its steady march upward to the 800 home mark. Currently, there are 795 active listings, compared to 742 on April 4, 2007. At present there are 109 pending or contingent homes, a decrease from April 18, 2007 when that figure was 127. In the last month, there were 223 new listings, 74 expired listings, and 84 homes sold. The most expensive was a $975,000 home in Elkhorn Estates, a gated community. That home boasted a circular driveway, built-in custom spa, a basketball court, and sat on over a half acre. Take a peek.

Mint Properties can assist you with any real estate purchase. If you are thinking of buying on the Central Coast, it is truly a great time. Please call me today at (805) 878-9879, to see if you are eligible for a complimentary buyer consultation.

*Based on the information from the Central Coast Regional MLS for the 30 days prior to this posting, May 3, 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.

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