real estate sales: Morro Bay & Cayucos Real Estate Market Report: Stagnant
- 12/13/11 04:11 PM
These beautiful coastal communities are still struggling to overcome economic issues and begin a real estate rebound. Looking at single-family homes, condos, and PUDs, prices have drifted downward since the first of the year. Price per square foot has gone from $337 to $262 at the end of November.
Prices on for sale versus sold homes have been somewehat erratic. For sale prices have maintained an average in the low to mid $700,000 range, while sold home prices have jumped from $554,000 to $429,000 to $639,000, finally ending up at $452,000 at the end of November.
As you can see, inventory jumped a bit in October, but still is way below what it was a year ago. Lower-priced homes are beginning to see good sales and some multiple offers. Investors are coming back into the market, and most people seem to realize that we are not going to see lower interest rates than we have now, for years if ever. Average price per square foot is up as well, and there was a strong increase in the price asked/price sold for ratio. We were not hit as hard by the falling market as other areas … (2 comments)
real estate sales: Inventory Index: Figuring Housing Inventory in Months
- 08/13/10 05:01 PM
I never was much of a numbers person, but I am finding that some numbers are indispensable in the business of real estate. One such number is the Inventory Index (II), which gives you a quick view of how many months it will take to deplete the current housing inventory. It's generally considered that much under 3 months is a seller's market, while much over 5 months means you are in a buyer's market. EASY TO FIGURE The II can be applied to a city, county, state, or even a neighborhood, if there are enough sales and listings to make the … (8 comments)
real estate sales: Market Statistics: San Luis Obispo, California Homes Sold
- 06/09/10 07:01 AM
Here's a useful snapshot of real estate activity in the city of SLO, from January 1 to May 31, 2010: 150 homes sold $548,400 = average price $459,950 = median price 1722 square feet = average size 219 homes active today 17 homes are contingent 58 homes are pending There has been a gradual but sustained upswing in activity for several months. Prices continue to drop off slightly, but sales have increased. It looks as if equilibrium will be reached soon, and then the market should improve with better prices and continued strong sales. Mortgage rates remain very low and thus … (0 comments)
real estate sales: The Power of Active Rain: What the Grace Idaho Real Estate Agent Needs to Know
- 01/27/10 03:57 PM
I'm sold on the power of Active Rain! Wjhen I read about The Power of Active Rain contest, I clicked on the link for the Grace Idaho real estate agent and saw that she was offering a home for sale in Soda Springs. I was enchanted! My great-grandfather was born there, and members of my extended family still live there. And then I looked at the prices: a 4-bedroom, 2-bath home for only $89,000! Wow! For a gal from the high-real-estate-prices state of California, this sounds too good to be true. But I never would have found a real estate agent … (5 comments)
What's happening in San Luis Obispo city and county real estate, events, historical stories, and general commentary on my home town.
Learn about life in San Luis Obispo, including homes for sale, market statistics, gardening, food, and everything that is fun, tasty, or beautiful here in the Middle Kingdom (which is how Sunset Magazine refers to California's Central Coast).
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