Inventory levels always decrease during the winter months, in the past five years we saw around a 3-4 months inventory between November and February then around 5 months of inventory during the summer. This February there was only 2.5 months of inventory in San Luis Obispo County. There were a total of 820 active listings this February 2017, which is a significant decrease from 1,117 active listings in February 2016.
This is a seller’s market meaning now is a great time to list. The median home price has been increasing and there are more home buyers than sellers in the market. Buyers should be prepared to compete, presenting their highest and best offer quickly when they find the right home. The graph below shows the monthly inventory trend over the past five years.