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March 2010 Foreclosures

For the 203 sold homes in SLO County in March 2010, 45% of these homes were foreclosures (either REO or Short Sale).  In March 2009, we also had 45% foreclosures. But there is a difference in  the mix of REOs and Short Sales. In March 2010, 26% of the homes were REOs compared to 37% in March 2009. Short Sales in March 2010 were 19% compared to 8% in March 2009.

Median home prices for REOs and Short Sales were pretty close to each other but the median home price for non-foreclosures was a lot higher.

Median Home Price March 2010:

Non-foreclosure = $438,750
REOs – $331,000
Short Sales – $347,500

Here’s the distribution of short sales in March 2010 per city:
Arroyo Grande (5), Atascadero(8), Cambria(2), Grover Beach(2), Los Osos(1), Nipomo (4), Paso Robles (12), San Luis Obispo(3)

REO distribution:
Arroyo Grande(5), Atascadero(13), Cayucos(1), Creston(1), Grover Beach(2), Morro Bay(1), Nipomo(5), Oceano(1), Pismo Beach(1), Paso Robles(20), San Luis Obispo(2), Templeton(1)

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