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Santa Maria Homes – River Oaks Community Update

November 17, 2010

 Santa Maria Homes – River Oaks Community Update

Santa Maria Homes up to $250,000

River Oaks is a community of newer homes for sale in northeast Santa Maria.  The neighborhood offers a secluded feeling and borders the Santa Maria Riverbed ad walking trails.  At the center of the neighborhood is Ida Redmond Taylor Elementary, and directly behind is a community park which includes a lake, playground, and picnic area.  These homes were constructed between about 1999 – 2003.  Because many of the homes were sold new during the beginning 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 River Oaks Development, 3 were foreclosures, and 1 was a short sale, and 2 were regular sales. The average sale price was $290,167 compared to an average list price of $290,965; average price per square foot paid by River Oaks home buyers was $149.15, with 77 days on market.

Santa Maria Homes $250,000 – $300,000

Ida Redmond Taylor Elementary in Santa Maria

Ida Redmond Taylor Elementary in Santa Maria

So, sellers are receiving about 99.7% of their asking price in the River Oaks development, indicating that the community has much appeal for buyers.  There is currently 1 pending home sale in the River Oaks homes for sale in Santa Maria.  There are five contingent short sales currently, with a median asking price of $280,000.  At present, there are 6 active properties in River Oaks, indicating that there may be some bargaining room for buyers due to the increase in available inventory in this neighborhood.  The median asking price of available homes is $252,500, and the average is about $256,000, which is noticeably lower than the sold average in the past 6 months.  So, there appears to be some softening in prices in this neighborhood.  This may also be due to the fact that majority of homes sold in the Santa Maria River Oaks development continue to be distress sales at this time.

River Oaks is a charming community that offers a real retreat feeling to Santa Maria home buyers.  Other newer home communities in Santa Maria include Essex at Willow Creek, La Ventana, Sculptures, Villaggio, and Cherry Blossom Ranch.  If you are looking for a home 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

Copyright © Tni LeBlanc 2010*Santa Maria Homes*

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