CARPINTERIA, Calif.– Realtors estimate home prices between Carpinteria and Goleta are up a healthy 20 percent since the pandemic began a year ago this month.
“In March if you were to ask me what was going to happen with the market I would have told you it was going to decrease, but by the beginning of May we saw it take off,” said Compass broker associate Jon-Ryan Schlobohm.
Schlobohm said he had two deals fall through due to cannabis issues before the pandemic.
“It is very individualistic so we have some people that are concerned about it and other people don’t mind it at all there have been a lot of measures in place lately wher they have been working on taking care of the smell of pot with odor mitigation systems so it has been an interesting one to follow.”
On scenic roads there are odor signs warning people of the marijuana smell from greenhouses in the unincorporated areas of Santa Barbara County by Carpinteria.
It doesn’t hurt that Meghan and Harry moved to nearby Montecito, an area said be seeing a major price spike right now.
Schlobohm called it is a seller’s market with bidding wars.
It is helping businesses that fix up homes, too. Many people are improving their homes to sell or stay put.
Realtor Mary Layman with Keller Williams said prices between Carpinteria and Goleta are up 21.5 percent in February compared to last year.
She said Montecito and Hope Ranch prices are up even more.
Lorraine McIntire said people told her the value of her Carpinteria condo may go down due to cannabis growers, but she has seen her equity grow.
There are people who have filed a lawsuit over the smell of the marijuana industry. Some of them people have moved out due the impact on their health and they believe they would have made more money if their neighbors didn’t grow marijuana.
Critics of the industry have started calling Cravens Lane “Cannabis Row. ”
But new townhomes on the street sold fast and some of the buyers are not full time residents.
One local said similar condos will be built by the polo fields.
Layman said she doesn’t have enough property to sell.
Some mornings she calls clients to ask them if they are ready to make a move.