Current Trends and Statistics for San Luis Obispo County

We are consistently asked "how's the market doing?" We love this question and we love giving factual information from our local Multiple Listing Service (MLS) for San Luis Obispo County. The most recent Trends and Statistics through October 2014 just came out. Here are a few graphs that show exactly how the market is doing:

Months of Inventory - The number of months of inventory is down.

Price Per Square Foot - The price per sq. ft. on closed sales is up.

Supply and Demand - Supply is down, demand is up.

Days on Market - The average days of homes on the market is up.

 

So, what does all this mean? When the inventory of homes is between 3 and 6 months we call this a neutral market. If the listings continue to increase and the sales stay at the same level, then the buyers will start to have an advantage because there are too many homes for sale. Conversely, if listings start to decease, which they did last year, and sales hold steady, the advantage will turn towards the seller. If we see either of these changes, we'll keep you posted.

Please contact us for more insight and feel free to pass this information on to anyone that has been thinking of buying or selling a home. We look forward to the opportunity of helping you!