I have some numbers that I confirmed for our January 2017 market that I would like to share with you today.
Inventory was down in January compared to last year, and our total sold homes were up a little bit. Normally, when buyers don’t have as many choices, there aren’t as many homes sold. So, I decided to take a closer look at what happened last month in a few key areas.
This year in Morro Bay the number of homes available is down and our number of new homes going into escrow is higher.
In Arroyo Grande, the inventory is basically flat compared to last year, but the number of homes in escrow is higher.
Paso Robles saw a drastic 20% decrease in inventory and pending sales are down 38%.
Los Osos was down to only 16 active listings in January with only five pending home sales. Last year in January, we had 14 pending home sales.
Atascadero actually saw an increase in inventory with 84 homes for sale this January compared to 57 last year. There were also 41 pending home sales this year compared to 28 last year.
Finally, in San Luis Obispo we had 102 active listings in January of 2016 compared to 71 in January of this year. That’s close to a 30% drop. The pending sales are up slightly with 30 in January compared to 29 last year.
Right now is a great time to sell, as the homes coming on the market right now are getting a lot of attention.
If you have any questions please feel free to give me a call or send me an email. I’d be happy to help in any way I can.