Welcome to the New Year!

It is hard to believe we are approaching the 2nd month of 2007! Here is a little re-cap of 2006. There were 185 homes sold in Los Osos, with an average sale price of$532,832 and with an average of 97 days on the market. This is compared to 2005, where 259 homes sold at an average price of $533,465 and with an average of 65 days on the market. One would summarize that the average price of a home increased from 2005 to 2006 when in reality we have experienced value dropping as much as 20% in certain price ranges. The main reason for this apparent increase is due to a larger percent of homes that sold over one million dollars.

Unlike the rest of California, I feel that the SLO County Real Estate will have a much lighter cooling off period. We have seen a decrease in the number of active listings, and the numbers of pending sales are pretty consistent to that of last year. We will have a better idea of what the trend will be in 2007 within the next few months.
The great news is that the interest rates are still stable and actually lower than they were this time last year. You can get a conforming 30 year fixed loan at 6% with one discount point.

Thanks for checking in! Please feel free to call me with any Real Estate Inquiries!

(805) 801-1133