SAN LUIS OBISPO COUNTY MARKET UPDATE - JULY 2021
A balanced market is six months of inventory, something we haven't seen on the Central Coast for a number of years as we had averaged just over four months inventory for the previous five years. This past year has been consistently below one and a half months of inventory, making it a strong seller's market.
Why? Many might say it has been due to a lack of sellers and new listings. But the reality is that July's 404 new listings were within 10% of the 447 average listings for the previous five years. This indicates it is due to an increased demand that has absorbed the inventory.
Sellers truly have benefitted from the rising prices and shortened number of days on market. The average sales price is up 19.9% from July 2020 and the average days on market dropped from 57 to 20.
Our market report showcases everything you need to know about local real estate trends with San Luis Obispo County averages and local area median stats.
Average Sales Price
Months of Supply
Average Days on Market
Average Price per Square Foot