2021 Year End North County Real Estate Statistics

 A very active year in north county real estate, to say the least….and ….another record year for sales in this area  at the end of my 41st year in real estate.

      Sales in 2021 were 11% higher than in 2020.    

    Properties in escrow are 2% higher than they were at the end of 2020.

     There are 31 %  less unsold properties on the market at the end of 2021 then there was at the end of 2020.   Inventory of property for sale is very low. 

      The average price of a home on up to 10 acres increased 14% in 2021 to 651,000vs. 565,000 in 2020. 

          Hope you have a successful and safe 2022  and please get in touch if there is anything I can do for you in this new year!   

 

   

1st 1/2 2021 Northern SLO County Real Estate Review

……It is now the 2nd day of July 2021 and the real estate market in Northern SLO county is at a very fast clip.  With one of the lightest amount of inventory of properties for sale  I have ever seen in my 40+   years of selling real estate here,  buyers are still paying record prices and many properties are seeing multiple offers.  It is definitely  a seller’s markets in residential sales here as well as most of the USA.

   Here is what has been going on in the Northern San Luis Obispo County real estate market for the last 6 months.   The statistics are for all property types which includes single family residential,  apartment buildings, commercial, raw land and agricultural

   1) Total numbers of sales in the first half of 2021 increased 34%  over the same time in 2020.    

  2) Properties in escrow at the end of June were down 10% over the same time in 2020. 

 3)  Active listings on the market not in escrow are down  a whopping 41% over the fhe same time last year.    There is a real shortage of properties for sale now.  

4)  The average sales price of a home on less than 15 acres in the North County is currently $640,000 and the the average for all of 2020 was $570,000.   So that is an 11% gain over the same time last year.     Feel free to get in touch with any questions about your own property or anything else. 

       Best to you for the rest of the year, enjoy your 4th of July  and stay healthy….

 

4th Quarter and Year End Northern SLO County Real Estate Statistics

4th Quarter  and Year End Northern SLO County Real Estate Statistics

 A very different year in real estate, to say the least….and ….I also finished my 40th year in real estate sales here at the end of December. 

    Closed escrows were down 12%  in the 4th quarter vs.  the the 3rd quarter.   This is normal as sales usually start to fall off in the holiday months

    Properties in escrow were down 50% at the end of the 4th quarter vs. the 3rd quarter.  Also a normal seasonal thing plus 3rd quarter sales were extremely high.

    Unsold properties on the market are the same as the end of the 3rd quarter.

   Now to compare 2020 t0 2019 ….

    Sales in 2020 were 9% higher then in 2019.    With Covid-19, that is a surprising and welcome statistic. 

    Properties in escrow are 5% higher then they were at the end of 2019.

     There is 18% more unsold properties on the market now then there was at the end of 2019. 

      The average price of a home on up to 10 acres increased 9% in 2020 to 563,000 vs. 525,000 in 2019. 

          Hope you have a successful and safe 2021 and please get in touch if there is anything I can do for you in this new year!   

3rd Quarter 2020 North County Real Estate Statistics

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.  

   

  

    

Second Quarter 2020 Statistics

Hi There ……It is now the 1st day of July 2020 and we all know now that COVID 19 is still with us and things have not improved on that front since my last market update at the end of March.   I hope you and yours are getting through this as best as possible.

   Here is what has been going on in the Northern San Luis Obispo County real estate market for the last 3 months:

   1) Total numbers of sales actually increased in the second quarter over the first quarter of 2020  by 10%.    However 2nd quarter sales normally will increase over the first quarter by more than that.  2nd quarter 2020 vs.  2nd quarter 2019 is down 26%.    The first 1/2 of 2020 vs. 2019 is down 13%.   With all of the uncertainty caused by Covid you would have thought it would have been more, so although lower, it is not as bad as one would have thought it would be.

  2) Properties in escrow at the end of June were actually up 56% over the amount in escrow at the end of March so that is very encouraging.  To add to that, they are also up 12% over the end of June in 2019 (Pre Covid days)  so that is even more encouraging.

3)  Active listings on the market not in escrow are down 11% over the first quarter and down a whole 26% over the same time last year.    There is a real shortage of properties for sale now vs. 2019.

4)  The average sales price of a home on less than 15 acres in the North County is currently $570,000 and the the average for all of 2019 was $550,000.   So for all intents and purposes we can say that prices are currently holding their own, 

    Feel free to get in touch with any questions.   

       Best to you for the rest of the year and stay healthy….

1st Quarter 2020 Northern San Luis Obispo County Real Estate Sales

Hello…. Hopefully everything is fine with you and yours through this turbulent and challenging time in today’s world.   Below you will see what the 1st quarter sales results for Northern San Luis Obispo county.   

  

  Total numbers of sales of all property types were up 9% in the first quarter of this year vs. the same time frame in 2019. 

   Properties in escrow as of April 1st are down 30% from the same date in 2019.  This is likely due to the effects of the Corona Virus Shelter in Place regulations starting in the last half of March. 

    Active unsold properties on the market are down 11% from the end of the first quarter in 2019.   This is a normal variation from quarter to quarter.  However some sellers have elected to either take their properties off the market or not put them on at all due again to fears of the  virus.  It will be interesting to see how this number may change at the of the second quarter.  

   As of 4/1/20,  Real Estate sales in San Luis Obispo County are still allowed to be done but with certain limitations known as   limited services .    

   All sales , property showings and marketing are to be done virtually if possible or via telephone.  Escrow and title offices are open as well as mortgage lenders so escrow openings and closings can be done.  Appraisal and property inspections can be done although new guidelines are in place.   

  Open houses are not permitted.   Model homes for new construction sales can be shown to only one person at a time. 

    The California Association of Realtors has issued new guidelines for property showings which are to be followed when a property cannot be shown under virtual technology methods.   These include who can be in a home during that time among other items. 

  The real estate industry has been operating with modern digital technology for many years now and the use of digital purchase contract signing and virtual tour marketing has been around for a long time.  So having to conform to these new guidelines will be relatively easy in my view while at the same time making social distancing possible. 

   Hopefully my second quarter report will be at a time when things do not look as ominous as now.   Be safe and please feel free to get in touch if you have any questions on the above! 

CURRENT NORTH COUNTY REAL ESTATE STATISTICS AS OF JANUARY 1ST 2019

Sales of all North County real estate types were down 3% in December from November but up 17%  from December of last year.   Total sales for 2019  were up 4% over 2019.

   Properties in escrow are down 22% from last month and up 8% from December of 2018.

   

Active listings on the market were down 12% from November  and also 7% from December of last year.  

     

   The average sales price of a home in Atascadero on 5 acres or  less in 2019 was 565,000 , up 1% from 2018

      The average sales price of a home in Templeton on 5 acres or less in 2019 was $723,000, up 2 % from 2018

        The average sales price of a home in Paso Robles on 5 acres or less in 2019 was $495,000, up 1% from 2018