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San Luis Obispo County Third Quarter Real Estate Update

The San Luis Obispo County Real Estate Update includes data for all cities and surrounding areas of the Central Coast for the first three quarters of the year (January-September) of 2016.

  • 2,170 Total Number of Sales (2016) vs. 2,174 (2015)
  • $555,000 Median Home Price (2016) vs. $520,000 (2015)
  • 98.09% Average Selling Price per a List Price (2016) vs. 97.98% (2015)
  • $341.95 Average Price per a Square Foot (2016) vs. $319.53 (2015)
  • 68 Average Cumulative Days on Market (2016) vs. 72 (2015)

All components of the housing market in San Luis Obispo County improved from the first three quarters of 2015 to the first three quarters of 2016 with the exception of the total number of sales, which was 4 total homes higher in 2015 than 2016. Though, the first three quarters of 2015 had more total number of sales, it had less normal sales and more foreclosures than in 2016, making 2016 a healthier sales mix in the first three quarters than the first three quarters of 2015 when there were 86 foreclosures compared to 61 foreclosures in 2016. All other aspects of the housing market improved from 2015. The median home price increased by $35,000 in San Luis Obispo County. The average selling price compared to the average list price was .11% higher during the first three quarters of this year meaning buyers are willing to pay a higher percentage of the listing price. Average price per a square foot increased by $22.42 on a year on year basis. The average cumulative days a home sits on the market decreased by 4 days from the first three quarters of 2015. All of these elements point to a healthier housing market than that of 2015.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com