Inventory is Up
As expected, inventory increased in May. Some cities increased their residential inventory more than others. Some cities are also at their highest inventory levels going into the summer season.
Pismo Beach jumped the highest percentage, going from 98 units to 117 units. Pismo Beach is also at its highest inventory level since the market changed. The previous high was 106 units last October and November.
All other cities had an increase in inventory except for Cayucos and San Luis Obispo. Cayucos went from 52 to 50 units and SLO went from 196 to 192. In April, SLO had a big jump from 164 to 196. April was also the highest inventory level for Cayucos.
Besides Pismo, Nipomo and Oceano also exceeded their previous highest inventory level.
I did not start tracking Atascadero and Paso Robles until January of this year. Already in 2007, Paso Robles has gone from 491 to 610 units.
See all the inventory levels here: