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Housing costs slightly drop in Santa Maria, mortgage rates continue to be high due to inflation

SANTA MARIA, Calif. – Realtors in Santa Maria are noticing a slight price drop in homes. However, they say mortgage rates are still high due to inflation. 

According to realtor Sandra Cervantes, the housing market is shifting. The average interest rate is under 5%, depending on someone’s credit. Cervantes said last year, the rate is at an average of 2.5%.

The median house price in Santa Maria for a one-family household is approximately $679,000, according to Cervantes.

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Karen Cruz-Orduña

Karen Cruz-Orduña is a reporter for News Channel 3-12. To learn more about Karen, click here.


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