Condos in SLO County also had lower percentage of foreclosures in November as shown in the chart below. In October, 62% of condos sold were foreclosures (REO or Short Sale). In November, that percentage dropped to 39%.
It’s been a tough year for condo sellers in SLO County. 2011 has had more foreclosure Condos than any previous year this decade as shown by the chart below. This shows the yearly foreclosure percentage, with 2011 being January-November. Thru November, we’re sitting at 48% foreclosures. We’ll see if December puts it at the 50% mark.