San Luis Obispo Market

In our last blog, we posted the Credit Suisse report which provides survey information on the real estate market conditions nationwide, with additional reports for specific metro areas.

This time we are posting two graphs.  Each graph covers the time period from July 2011 thru December 2011.  One graph shows the number of homes for sale, the number of homes that went into escrow, and the number of homes that actually sold  (closed escrow) for San Luis Obispo County. The second graph shows the same data for San Luis Obispo City.  As you might expect, both graphs follow the same trend.  Inventory, pending sales and sold properties have all declined over the time period.  Some  of the decline is seasonal.  Some decline is that sellers hope for a more active market in the spring, and some decline is that buyers are still sitting on the fence hoping for a “Really good Deal.”

We feel that prices are nearing the bottom, and with the record low interest rates, we are expecting a robust market in 2012.  Remember, while price is important the cost of owning a home is even more important.  While the prices may fall  a bit more in 2012, if interest rates go up, the monthly cost of owning the same home may actually increase.

To search specific properties in San Luis Obispo County and Northern Santa Barbara County, you can go to the Farrell Smyth web site home page and click on the “View Listings” button.  From there put in your search criteria and have some  fun.  You can also search properties worldwide by using the “RELO Home Search” button also on the home page.

If you have any questions regarding our graphs or on any properties you may search out, feel free to contact our office.

GOOD HUNTING!!!!

 

Posted by: Larry Smyth Larry Smyth

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