Real Estate Market in Central California

In fact, the real estate market in central California is a small part of the California real estate industry, but it is an important part. First, about 3% of Golden State residents and without large metropolitan areas, the Central Coast is one of the quietest and quietest areas of California.

Then, average property prices in the area are approximately 20% higher than the California average, but excluding Santa Barbara, there is no area of ​​more than $ 1,000,000 of homes. Last but not least, between San Francisco and Los Angeles, the central coast counties have spectacular views and 250 miles of beach, including the famous Santa Barbara beach.

All this combined makes Central Coast County one of California’s most likely destinations for foreign property buyers. * Although the average price of housing in California increased 3.4% to $ 484,000 between April 2006 and April 2007, three out of four counties in the middle coast (Monterrey, San Benito and San Luis Obispo) had average prices of goods 4% roots. Rejected almost. Even in the province of Santa Barbara, where average property prices have increased, many cities have seen a slight drop in property prices (the most obvious example is the 8.01% decrease in Santa María).

While the recession is a reality in the California real estate industry, central coast counties may have to overcome their problems. House sale; * The rate of construction of new houses is increasing. For example, in Santa María (northern part of Santa Barbara County), there are 20% larger building permits in the first three months of 2007 compared to the same period in 2006. All this may indicate that the average coast can Be the California market. The real estate sector is the first to overcome the problems of the real estate market. Since the state of the real estate market affects all other sectors of the local economy, the recovery is also likely to have a positive impact on other local industries. This, in turn, will have a serious positive impact on all the communities of the central coast, improving the stability of the region.

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