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July 2008 Central Coast Real Estate Market Statistics

I updated the site with July’s numbers.
Here’s a summary:
– Months of Inventory (MOI) for SLO County dropped from 10.5 Months on July 1st to 9.4 Months today (Aug 1st).
– Months of Inventory for SLO County Plus Santa Maria/Orcutt dropped from 9.8 Months to 8.2 Months (Santa Maria/Orcutt was very active last month!)
– Months in Inventory for most cities went down. The biggest drops were in: Grover Beach, Nipomo, and Oceano. Months of Inventory jumped the most in the following cities (meaning it was a slow sales month in July): Cayucos, Pismo Beach, Paso Robles. Avila Beach had the slowest sales activity with ZERO sales in July. San Luis Obispo’s MOI went down to 5.5. Anything under 6 months is considered a Sellers market (hmm…interesting).
– Inventory levels rose in 8 cities and was lower in 8 cities. The biggest jumps of inventory over the past month were Arroyo Grande (208 to 216), Orcutt (241 to 250), Grover Beach (88 to 98), and San Luis Obispo (211 to 225). Avila Beach had the biggest percentage increase (21 to 27 homes). The biggest reductions of inventory were in Atascadero (273 to 259), Santa Maria (514 to 503), and Los Osos (81 to 76).
– Average Days on Market for Homes in SLO County declined slightly from 111 in June to 108 in July.
– New REO listings in July dropped in both SLO County and Santa Maria/Orcutt. In SLO County, the number dropped from 49 new REO listings in June to 41 in July. In Santa Maria/Orcutt, the new REO listings went from 69 to 57.
– The number of price changes in July exceeded 1,000, similar to previous months.
Written by Keith Byrd - Go to Keith's Website/Profile