Today I'm going to be updating you on the real estate market here in San Luis Obispo. There are a few different topics I'll be discussing here today, so listen up, because this information could change your real estate plans for 2015.
- Certain segments of the market have seen increases in prices and also demand.
- We've also found that inventory is low, especially in Los Osos and Morro Bay. Everywhere else the market appears to be pretty even.
- Low Interest rates (3.6% on a conventional loan) have spurred activity and created a strong market here. My prediction is that the market will continue to strengthen in 2015 with affordability on the rise
- Because of the increase in prices for homes in the area, we've seen a big jump in condo sales. Similarly, condo prices are increasing because of the high demand for them.
- Now may be the time to refinance your home if you're wanting to save money with the extremely low interest rates we're seeing.
If you have any questions or concern about the San Luis Obispo real estate market, please email or call me. My team of professionals is eager to help you!