YEAR END NORTH COUNTY REAL ESTATE STATISTICS

-  For the 1st time in the past 7 years Northern San Luis Obispo County has shown an increase in property sales over the year previous. Sales of all property types increased 19% in 2011 over 2010.   Properties in escrow were up 4% in December over December of 2010 and the inventory of property on the market is down 15% from the same time last year.  The average price of a home in Paso Robles declined 2% in 2011 over 2010 but that happened mostly in the 1st part of the  year and that is the lowest per annum drop in a long time.   With the increase in sales and the lowering of the amount of property on the market for 12 full months, one can likely assume that this market has at a minimum stabilized for the time being.  That coupled with lower interest rates and some great buys still on the market should give buyers some motivation if they have been on the fence.