San Luis Obispo Real Estate Market Statistics

Check out these new listings! www.28Mariposa.com (4 /3 in SLO) www.585Bakeman.com (2 /2 in Arroyo Grande)

The real estate market on the Central Coast has changed. While it has been a Sellers market for the last several years, it is now a Buyers market with plenty of inventory to choose from.

So...what's going on and where is it going? I created SloWatch.com to provide the "what's going on" piece and will let you decide where the market may be going. I'm providing information that I would want to know if I was Buying or Selling real estate on the Central Coast so I was able to make an INFORMED decision. A good REALTOR will help you interpret this information to further assist you with your home purchase or sale.

I've maintained a San Luis Obispo Real Estate Blog for the past several years (read it here) and have reported monthly MLS statistics for the past two years. I've compiled the data and present it to you using different graphical charts.

The graph below charts New Listings, Pendings, and Price Changes for Single Family Homes in San Luis Obispo County plus Santa Maria. (more about the data used here)

- Keith Byrd

See Inventory Reports here
See Median Home Prices here
Other information available from the navigation bar at the top of each page.

New Listings, Pending Sales, Price Changes - Central Coast MLS Residential - July 2004 thru April 2008 (Updated 05/01/08)

You can read Keith's San Luis Obispo Real Estate Blog to get all the MLS data each month. Because this chart uses Pending Sales, you can can get a better read on what's happening with the market than if you looked at Sold data since it takes 30-45 days for most escrows to close. For example, when you read an article talking about May Solds, most of those homes went Pending in April, with some even going Pending in March. May could have been a month with a lot of activity but you won't know it until the June and July Sold data is reported.

Click to see the data for the above chart

We recently added a Market Snapshot Report which includes: Just Solds, Active Listings, List vs. Sold Prices, Inventory, and more.
Click here to run a report

Foreclosure Statistics - REO Solds for San Luis Obispo - 1/01/08 - 05/08/08

Million Dollar Plus Home Market

The chart below shows the number of homes above $1 Million were sold for the past few years.

	2007	2006	2005
1 acre or less	115	167	161
1-5 acres	46	65	57
over 5 acres	53	65	62
Total	214	297	280

Zillow Quarterly Home Value Reports (3rd quarter 2007)

City Stats

Arroyo Grande - Inventory Report - Sold Report	Grover Beach - Inventory Report - Sold Report	Paso Robles - Inventory Report - Sold Report
Atascadero - Inventory Report - Sold Report	Los Osos - Inventory Report - Sold Report	Pismo Beach - Inventory Report - Sold Report
Avila Beach - Inventory Report - Sold Report	Morro Bay - Inventory Report - Sold Report	San Luis Obispo - Inventory Report - Sold Report
Cambria - Inventory Report - Sold Report	Nipomo - Inventory Report - Sold Report	Santa Maria - Inventory Report - Sold Report
Cayucos - Inventory Report - Sold Report	Oceano - Inventory Report - Sold Report

San Luis Obispo County Solds - 2004 - December 2007 (single family homes, condos, PUDS)
(courtesy of First American Title)

Scenic Coast is Los Osos, Morro Bay, Cayucos, Cambria, and San Simeon

Additional Charts/Info:

Zillow Zindex Charts 1996-2006 - shows home prices for individual cities over a ten year period

Historical 30-year Mortgage Rates

mortgage history chart

30-year Mortgage Rates - 3 month trend

http://www.bankrate.com/brm/publ/30yrmolg.asp

What does it mean when the 30-year fixed mortgage interest rate raises from 5.8 to 6.8%?

Using a "How much can I afford" mortgage calculator here, I plugged in the following:

- 15,000/month income
- 6,000/yr property taxes
- 1,000/yr hazard insurance
- 100,000 down

At 5.8%, it said the home I could afford was $815,804

At 6.8%, it said the home I could afford was $744,256

So, from 5.8% to 6.8%, I could afford a home that was 8.77% less.