Local Market Conditions

In our last post, we reviewed the Credit Suisse Market Survey.  This report gave us the over view of the National Market and specific Large Market areas.  Now we are posting the latest for our local San Luis Obispo  County market.

Looking at our graph, comparing February 2011 to February 2012, we see that inventory has declined, while pending sales, and closed escrows have both increased.  All of these are good signs for the real estate  sales market.  Another good sign is the fact that the months of inventory is also declining.  We have about 5-6 months of inventory based on solds and 3-4 months inventory based on pending sales.  This compares to 8-9 months of inventory based on solds, and  6 to 7 months of inventory based on pending sales a year ago.  Again this is a good indicator that the market is moving in the right direction.

While our graph covers all of San Luis Obispo County, we can also break our data down to specific zip codes for San Luis Obispo, and Northern Santa Barbara County.  Contact us at  info@farrellsmyth.com
, give us the zip code you want, and we will send you the stats right away.

As always, your questions and comments are welcome.

Posted by: Larry Smyth

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