First 1/2 of 2022 – North County Real Estate Statistics

The first 1/2 of this year has seen a slow down in activity from last year. Closed escrows at the end of the first 1/2 of 2022 were down 22% from the second 1/2 of 2021 and down 16% compared to the same time last year at the end of the 1st 1/2 of 2021.
Properties in escrow were down 8% from the end of the year in 2021 and down 47% from the end of the first 1/2 of 2021
The number of unsold properties on the market is up 29% from the end of 2021 and up 14% from the end of the 1st 1/2 of last year.
The average sales price of a single family residence on up to 10 acres in northern San Luis Obispo County is now $765,000.00 which is a 15% increase from the end of last year. This is likely because inventory of unsold homes is still much less than normal despite being larger than the end of 2021 and the number of high end properties in the over $1,000,000 class is higher than normal. It will be very interesting to see how the rest of the year plays out with the rise in interest rates and other factors that can affect real estate.
Please feel free to contact me if you have questions or if there is anything else I can do to help you.

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