I updated the individual city inventory levels, the mls statistics chart, and the Months of Inventory table on the www.SloWatch.com site.
Because of the low number of Solds in July, the Months of Inventory for SLO County raised from 8.1 to 10.4 months. If you include Santa Maria and Orcutt in the calculation, the Months of Inventory for all areas increased from 8.6 to 11.4 months. What’s interesting is that for the past two months, the market in the city of San Luis Obispo can still be considered a Sellers market with only 3 months of inventory.
The residential inventory levels add a bit more to the story. Atascadero’s inventory jumped in July, from 272 to 333 units. Morro Bay continues it’s rise in inventory as well. Over the last 2 months, inventory has gone from 90 to 118 units.