Santa Maria and Orcutt Real Estate Market Update November 2021 Edition
Here is your real estate market update taking a look at how the Orcutt and Santa Maria real estate market did in October 2021.
So let’s start with Orcutt real estate market.
The prices flattened out a little bit year over year, with only a 1% increase in price. The average last year in 2020 was 629,000. And in 2021 at 638,000. The average number of listings we had worked with was a little bit less than last year. 2020, we had 61 properties hit the market for sale in October compared to 2021, we only had 42 properties hit the market. So the days on the market changed significantly as well. So in 2020, it took us 36 days to get into contract on a property. And in 2021, it took only 25 days. That’s a 31% decrease in the number of days it took to get a property into contract for Orcutt California.
Now let’s look at the Santa Maria real estate market
Prices are up 27% compared to October last year. This year, the average home price in Santa Maria costs 538,000. And in 2020, it was only 424,000. The number of houses that hit the market in October was the same as last year. In 2020, we had 58 homes hit the market in October. And this year we had 56. As far as the days on the market, we had a 33% decrease. Last year it took us 18 days to go pending on a property in Santa Maria. And this year it took only 12 days.
So that’s a wrap for our local San Maria and Orcutt California real estate market update. And as always, if you have any real estate questions, reach out to us as we are always happy to help.
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