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!