SAN LUIS OBISPO COUNTY REAL ESTATE UPDATE AS OF AUGUST 11, 2006

The current SLO County Real Estate Market is still strong but its definitely cooling in that we have seen price reductions of up to 15% on certain properties in the County! The number of ACTIVE LISTINGS have increased 5 fold and the number of sales to date are down 30% from last year. The number of days on the market has increased from 25 day to 125 days.
The following is a recap of the San Luis Obispo Market from the first of the year to date:

SALESPRICE ------ACTIVE------ PENDING------ SOLD
100 k-550k--------951----------- 147--------------866
550k-700k-------- 588----------- 102------------- 452
700k-1 mil---------534------------ 70-------------- 324
1 mil and up------- 412------------ 46---------------195
TOTAL-----------2485------------365--------------1837

BY LOCATIONS:
SLO--------------- 239------------ 43-------------- 252
Los Osos---------- 130------------- 16--------------- 99
Morro Bay-------- 116------------- 17--------------- 61
Nipomo----------- 159------------- 24-------------- 105
Arroyo Grande---- 270------------- 41-------------- 214
Avila--------------- 33-------------- 1--------------- 10
Pismo Beach------- 111------------- 12--------------- 73
On a positive note the FED's did not increase the short term interest rate this week!
You can still get a 30 year fixed rate for as little as 6.25% with 1% loan fee.
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Have a wonderful week!