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MARKET OVERVIEW COMPARING SALES ACTIVITY OF 2004, 2008 AND 2012

2004                                       2008                                       2012

# Sales  Median Sales     # Sales  Median Sales     # Sales  Median Sales

Arroyo Grande  389         $629,000              244         $550,000              341         $465,000

Cambria               177         $642,000              80           $633,000              169         $485,000

Cayucos               59           $715,000              43           $800,000              57           $690,000

Los Osos              223         $450,000              103         $435,000              204         $327,000

Morro Bay           193         $550,000              107         $520,000              124         $420,000

Pismo Beach      126         $738,000              82           $750,000              121         $570,000

San Luis Obispo 337         $600,000              209         $629,000              354         $540,000

Mid 2005 marked the beginning of the downward trend in the housing market- so the 2004 figures provide us with good data to show prices near their high point.   By 2008- the economy as a whole was effected  by the recession and housing prices declined steeply- up to 40% overall  in some areas of our county.

2012 marked the end of the downward cycle!   Throughout 2012, the number of homes on the market has remained  low. With many buyers ready to buy- Well priced  properties , especially those at the lower end of the area’s  price range-  have been receiving  multiple offers -inching prices up a slight bit.  No rapid recovery in sight- as we all know-  but it looks like we are positioned for a  good year for both sellers and buyers .

Mortgage rates remain at all time lows. 3.25% -3.5% for 30 year mortgages-

Written by Lynn Bates - Go to Lynn's Website/Profile
LYNN BATES, Keith Byrd Team, North Coast Realtor of San Luis Obispo County including Morro Bay, Cayucos, Cambria and Los Osos. 805 458-4409. Lynn@LynnBates.Com