3rd Quarter Northern SLO County Real Estate Statistics
This has been a real surprising year in real estate here. The effect of Covid on sales became evident in the 2nd quarter of the year and is still carrying on as of this time. However, 3rd quarter sales of all property types were 43% higher in the 3rd quarter over the second quarter. Residential sales have been very strong due to short inventory. In fact they are even 24% higher than the 3rd quarter of 2019. This would not have been expected with today’s unemployment rates and Covid fears.
Properties in escrow are up 7% over the 2nd quarter of this year and up 19% over the 3rd quarter of 2019.
Unsold properties on the market are down 11% since the 2nd quarter of this year and down a whopping 34 % from last year at this time. A very large decrease in the available inventory from last year.
The Average Price of a Home on Less than 15 acres in the 3rd quarter was $561,000 compared to $570,000 at the end of the 2nd quarter so things are stable but there could be upward price pressure if things improve nationally.