For the first 9 days of August, there already has been 567 price changes. We’re starting to see some hefty price drops too. For example in the past 2 days:
– In Arroyo Grande, a home went from $689,500 to $589,500. Another from $1,040,000 to $899,000.
– An Atascadero home dropped from $775,000 to $699,000. Another from $989,000 to $900,000.
– A Cambria home from $789,000 to $699,999
– A Grover Beach home from $779,900 to $719,900
– A Los Osos home dropped from $679,000 to $579,000
– A SLO home dropped from $1,100,000 to $995,000
The good news for Sellers is that we’ve had 286 new listings and 161 pendings so far this month which, if the pattern continues for the rest of the month, we should have fewer New Listings than we had last month and slightly more Pending sales.