Santa Maria Gated Homes – Arborwalk Snapshot Update
Arborwalk is a gated community of townhomes at the intersection of McCoy and Miller; it is near much of the new shopping and commercial development in south Santa Maria. Watt Developers began building Arborwalk in about 2004. Because the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales. In the past 6 months, there have been 6 sales in the Arborwalk Development, one was an investor flip, 2 were foreclosures, and 3 were successfully closed short sales. The average sale price was $255,500, compared to an average list price of $261,233; average price per square foot paid by Arborwalk buyers was $128.00, with a brisk 73 days on market (not bad with the short sales included).
So, Sellers are receiving about 97.8% of their asking price in the Arborwalk development, indicating that the development still has much appeal for buyers. There are no currently pending home sales in Arbowalk in Santa Maria, but there are three contingent short sales. Of 7 the active properties, 1 is an approved short sale, 2 are HAP sales (military relocation program), one is an REO, and 3 are “regular” short sales. So, it seems that the majority of currently listed homes in Arborwalk are distress sales at this time.
In my opinion, Arborwalk is one of the most innovative newer developments in Santa Maria and Orcutt and it offers a truly truly walkable lifestyle for its townhome residents given its ideal location.
Other gated home communities in Santa Maria and Orcutt include Creekside Villas, Hidden Pines, La Vigna at Westgate Ranch, Preisker Gardens, Regency Estates, and the residents of La Ventana and the Villas at La Ventana are considering gating that community. If you are looking for a home in a gated community in one of these Santa Maria or Orcutt developments, call me today for an appointment (805) 878-9879.
Tni LeBlanc, Mint Properties
*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 market