Santa Maria & Lompoc Property Sales In June

The North part of Santa Barbara County has been experiencing what I would call a bit of a recovery regarding the number of homes and condos that have been selling. In June the number of transfers for Lompoc and Santa Maria hit a total of 191 transactions.

Santa Maria has been showing the most improvement in the last few months. In March there were 87 transactions. In April, May, & June there have been 134,137,& 141 respectively.

June's number of 141 is the highest number on the chart except for December of 2005 which hit 156. Once again in reviewing the transfers there were many bank owned properties that were purchased.

This trend continues to be good in my opinion since it will continue to take some time to get that inventory off the market. The foreclosures seem to just keep on coming, but if the banks have figured out the price point to get them sold then that is a big piece of the puzzle.

In Lompoc June was almost as good as the previous month. April had 51 transactions and June had 50. Not too bad when you consider that late last year the number of transactions was in the 20's.

Lompoc has seen a steady increase in the number of transactions this year. I'm not sure how long it will continue, but a steady increase is much better than the alternative.

My guess is that these increases are signs of a market that is in recovery as well as some normal seasonal increases. The spring and summer are usually the months where homes are sold and people move in to their new places.

Stay Tuned!

South Coast Vacancy Rates

The Tuler/Gamberdella Team from Radius Group Commercial Real Estate has released their Quarterly Review of the commercial markets on the South Coast. Check them out!


Radius Group Commercial Real Estate is pleased to provide the RADIUS GROUP SOUTH COAST 2nd Quarter 2008 REVIEW for the commercial markets of Santa Barbara, Goleta and Carpinteria. Included in the report are the largest leased properties and largest vacancies in each city during the 2nd Quarter 2008.

The following is a summary of Vacancy Rates from April 2008 through June 2008.

Santa Barbara

Office Vacancy increased slightly from 2.9% to 3.8%.
Industrial Vacancy remained the same at 0.4% to 0.4%.
Retail Vacancy increased slightly from 1.1% to 1.2%.

Goleta

Office Vacancy increased from 8.6% to 9.0%.
Industrial Vacancy increased from 4.5% to 5.9%.

Carpinteria

Office Vacancy increased from 2.5% to 2.8%.
Industrial Vacancy increased from 2.8% to 8.4%.

Please click here to view the detailed report for the changes in lease rates, the largest lease transactions and current vacancies.


Please contact Bob Tuler (805) 879-9605, Paul Gamberdella (805) 879-9622, or Gene Deering (805) 879-9623 for any commercial real estate related needs.

Property Sales Prices In The Santa Barbara Area

Our interactive map for Homes, Condo, and all other property sales is now available.



There were not many sales in Carpinteria for June. The lowest priced sale was for $290,000 at 5945 Hickory St #1. There was one good sized sale in Carpinteria for $2,400,000 at 6635 Arozena Ln.

Goleta had a really low sales price reported for 5218 Mono Dr. of $12,750. My guess is that is some kind of partial interest in a piece of property but who knows. The next reasonably priced property was for $510,000 at 5290 Overpass Rd #12. The highest priced property in Goleta was probably a commercial piece of property at 7000 Hollister Ave for $2,900,000.

Moving on to Santa Barbara, this price is a little hard to believe, $129,000 for 4545 Oak Glen Dr #D. The highest priced piece of property reported sold by CORT in Santa Barbara was $5,100,000 at 4160 Mariposa Dr.

Montecito's lowest priced property was 621 Romero Canyon Rd, which sold for $944,000. On the other end of the spectrum, 919 Park Ln sold for $8,967,500.

If you would like information on previous months sales you can use the links to the right.