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January 2011 Statistics

January continued to have a high percentage of foreclosures (REO and Short Sale).  Condos in SLO County had 67% of solds as distressed while single family homes came in at 45% distressed.  Santa Maria continues to have a majority of distressed properties with 60% of January homes sold, but that’s down from the 80% they were at in 2009.

REOs continue to be aggressively priced by the banks and the Realtors/Brokerage that represent these foreclosures as shown in the differences in the median home prices below.

January median home price (single family homes) in SLO County:

All types – $360,000

Non-foreclosures (54%) – $414,900
Short Sales  (18%)- $318,000
REOs (28%)- $265,000

For individual cities, here’s some of the distressed percentages (REOS and Short Sales) for single family homes sold in January.

Templeton – 83% distressed
Los Osos- 75%
Grover Beach – 70%
Paso Robles – 60%
Atascadero – 47%
Arroyo Grande – 30%
Pismo Beach – 25%
San Luis Obispo – 18%
Cambria – 17%
Cayucos – 0%

To see all January 2011 statistics, the dashboard is now available here or by clicking Market Statistics in the main menu.

Written by Keith Byrd - Go to Keith's Website/Profile