No Comments

No Bottom Yet for Our Local Market

I just compiled July’s data into the statistics dashboards and here is what they are telling me:

The Good News

– The # of New Listings Declined in the month of July which helped lower the inventory a bit.

– Home Sales are up for the first 7 months of 2011 vs. the same time frame in 2010.

The Not So Good News

– Foreclosures are still a significant amount of single family home sales in SLO County.   63% of single family homes sold in June and July were non-distressed properties.

– Median Home Prices for REOs and non-distressed properties dropped significantly in July. Short Sales median home price rose slightly.  The overall median home price, which is the one you’ll hear reported by the local media, dropped from $377K in June to $339K in July.(see screenshot from the Dashboard below which shows Single Family Homes in SLO County)

8-5-2011-1-36-36-am

 

The Sold Dashboards and the Inventory Dashboard are updated with July data and are available here.

 

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