Friday, October 24, 2008

Santa Maria Home Sales Continue Their Brisk Pace

While the stock market has been the topic du jour. The northern part of Santa Barbara County has been doing a great job of showing signs of a real estate recovery.

The Santa Maria area had almost 200 properties transfer in September to a new end user. That is a very substantial number and crushes anything the south coast is seeing.

Along with the number of homes that are selling is the fact that the prices of these properties are at a median price we haven't seen in a long time. I quickly calculated the median price for all the properties that transferred and it was below $250,000. WOW!

The higher priced properties continue to be in the Orcutt area, but even they are not selling for anything you would consider high based on prices from a number of years ago.

I am glad to report I believe the number of sales occurring in the Santa Maria area this year would cause me to believe that things are good in the real estate market and are going to get better.

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