2012 was a positive year for the real estate market on the Central Coast. Prices have come up a little and sales have risen even more. Meanwhile, Notice of Default filings, the first step in the foreclosure process, are down over 50% from this time last year. The charts below show the historical trend in sales.
The number of homes sold has increased in four consecutive years and numbers are almost back to where they were before the downturn. Meanwhile, the median price of a home in San Luis Obispo County has remained fairly stable around $400,000 for the past few years. It is right around it’s three-year high and up about 15% from a year or two ago.
The persistent problem continues to be the lack of inventory. Inventory of unsold homes is at levels not seen since 2004.