Central Coast Real Estate
Santa Maria & Orcutt Housing Market Report
The Central Coast Real Estate housing market has cooled for the holidays, however it is progressing overall from last year at this time. Inventory (selection) for the North Santa Barbara county which includes Santa Maria and Orcutt Real Estate is up from 154 (Aug. 14 2013 to Oct. 13 2013) to 254 for the same time periods in 2014. Sales were brisk in October (see graph) over last year as well 108 vs. 126 in 2014. Foreclosures continue to drop and cash sales seem to be increasing… Santa Maria = 24 Lompoc = 13. Santa Maria, Orcutt and Lompoc continue to see an increase in builder confidence as the new housing tracts are being constructed at a rapid pace. This also adds to the inventory for all level of buyers. Interest rates have increased a bit and are now hovering around the 4% rate, which is still close to historical lows. Lenders seem to have eased the qualifications a little and this has helped many homebuyers into the market.