2011 Real Estate Market Update — Orcutt Homes Sales

Orcutt CA

2010

2011

Homes Sold

419

452

Average List Price

$322,018

$289,805

Average Sales Price

$315,069

$282,307

Days on Market

80

103

$ per Square Foot

$171

$154

Foreclosures

127

138

Short Sales

96

123

Looking at the sales figures for 2011, the number of homes sold increased by about 8% in Orcutt. However, the average sales price went down 10% which is a considerable decline. Days on market increased to 103, so it took longer to sell a home in 2011. However, that figure is probably affected by the increase in short sale listings which stay on market while bank approval is obtained. Short sales increased by 28% in the Orcutt area. Foreclosures also increased but not as drastically — they increased about 7%. Overall, the appetite for homes in the Orcutt is strong, but distress sales comprise 57% of the homes sold and that continues to put downward pressure on pricing.

If you are considering selling your Orcutt CA home and you would like a comparative market analysis, feel free to contact my office at (805) 938-9950 and set up an appointment. I specialize in short sales and distress sales. If you are interested in buying a home in Orcutt CA, I will be happy to assist you and provide a list of available homes in Orcutt CA and the surrounding area.

Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) and Short Sale and Foreclosure Resource Agent (SFR) serving Santa Maria, Orcutt, Lompoc, Nipomo, and Arroyo Grande on the Central Coast of California.

* Stick built SFRs & PUDs. Zip codes 93455. Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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 real estate market. School district boundaries are subject to change and must be verified with the appropriate authority. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.

Copyright © 2012 Tni LeBlanc *2011 Real Estate Market Update –Orcutt Home Sales*

Speak Your Mind

*

Privacy Policy