Hey North SLO County! Here is the North SLO County real estate market update for March 2022.
This North SLO County real estate market is still steaming ahead, and it remains firmly in Seller Market territory.
Although the median home prices have drifted down ever so slightly these past two months, the median selling price in the North SLO County real estate market has still increased 14.3% compared to February 2021.
We continue to be in the midst of a very, very low inventory situation, with only 110 active listings available for sale in February. Compare that to 213 active listings in February 2021. That’s a 48.4% drop in the number of available homes to buy, year-over-year.
Officially, it is taking a median of 10 days to get a home under contract, but in my experience, well-priced, well-presented properties are selling in 3 to 4 days, with multiple offers, and selling well over the listed price.
However, 13% fewer properties sold than the same time last year, but that is clearly because we had far fewer properties to sell, compared to the previous year.
We currently have 0.9 months of supply in our market. What does that mean? That means that it will take less than one month to sell all the currently available properties, if we maintain the current pace of property sales in the North SLO County real estate market.
Are you a resident of North SLO County? Do you want to know what all this means for your current home value? Are you a potential buyer? Do you want advice and help to prepare you to be able to compete in multiple offer situations? I would be delighted to help you! Send me a message, call or text, so we can chat!
Curious about what is on the market? Why not check out the Upcoming Open Houses. Need more information about a property before you go see it? Contact me. 805.712.4436. You will always get experienced assistance, and no high pressure tactics ever. Promise!