There were 205 REO (foreclosure) sales in Orcutt in 2009, and 97 successfully closed short sales. So, approximately 59% percent of the sales in the 93455 zip code were foreclosures or pre-foreclosures. This percentage is slightly lower than when looking at the Santa Maria and Orcutt area overall where that figure is 73%. Looking at just the foreclosure inventory in Orcutt, the average foreclosure sales price was $ 261,962 at $160 per square feet with 41 days on market. So, much of the foreclosure activity in Orcutt in 2009 was at the lower end of the price range. Short sales closed at a slightly higher price in the Orcutt area. The average sale price for short sales was $285,223 at $162 per square foot with 166 days on market.
If you are interested in buying or selling property in the Orcutt area, feel free to search for properties on my website www.iLoveOrcutt.com, or give me a call and set up a buyer consultation today to take advantage of low interest rates and the first time buyer tax credit which expires on April 30, 2010. I can be reached at (805) 878-9879.
*Based on the information from the Central Coast Regional MLS. 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.