Market Trends San Luis Obispo

Here is the latest on the real estate market activity for San Luis Obispo as of the end of the Third Quarter 2014.

This series of graphs show what is going on in the San Luis Obispo real estate market and you can compare back over the last 15 months. The stats reflect single family homes, condos and PUD’s in the City of San Luis Obispo and surrounding area.

 

Graph #1 shows the inventory of homes for sale falling slightly to 104, the number of pending escrows also falling to 36 and the number of closed escrows also dropping to 41. It looks like we are heading into fall and the market is slowing.

Graph 1

Graph # 2 shows two things. First the number of days properties are staying on the market before going into escrow. While the numbers jump around a bit, we look like we are averaging about 60 days to get a contract and the red lines shows that selling prices are at 94 % of the asking price.

Graph 2

Graph #3 indicates the average listing price ($789,000) of all homes in San Luis Obispo along with the average selling price ($522,000). This gives us an idea of the price range of homes coming on the market and the price range that buyers are buying. It appears that the active buyers are in the lower part of the market

Graph 3

Graph #4 indicates the months of inventory currently on the market. At 2.5 month the inventory remains low with less selection for buyers.

Graph 4

Stay tuned as we get more into the Fall season for more market data.

 

Larry D. Smyth

President/Broker

Farrell Smyth, Inc.

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