Wednesday, January 27, 2021 / by Traci Pimentel
San Luis Obispo County hasn't seen much change with New Listings hitting the market in comparison to the previous couple weeks. We did see a nearly 13% increase in properties going Pending. With more than 15% less properties sold this past week, the uptick of escrows opened, and no influx of inventory hitting the market, we're still very much in a Seller's Market.
A swell of buyers are looking to enter the market, keeping demand firm amidst the continued historically low interest rates. By the 4th quarter this year, experts are forecasting that refinance volume will decrease, largely because many will have already refinanced due to these low rates.
In 2020, median listing prices grew 13.3%, according to Realtor.com. Experts forecast prices will stay on this upward track.
Even if home prices rise as forecasted, that w ...
Wednesday, September 30, 2020 / by Traci Pimentel
This past week, San Luis Obispo County saw a slight uptick in both closed transactions & new listings.
Pending & Active Under Contract Properties are practically equal to last week’s opened escrows.
Mortgage rates fluctuated a few times just today, however continue to remain around 2.75%.
In comparison to end of summer/beginning fall last year - we’re at half the available inventory.
Access the value of YOUR home with relevant neighborhood comparisons: https://www.allcentralcoastcahomes.com/homevalue/default
The Keenan Carter Group DRE# 00860187
Keller Williams Realty Central Coast DRE# 02005015
Each Office is Independently Owned and Operated. ...
Monday, September 28, 2020 / by Traci Pimentel
Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse. Some forecasts called for a 15-20% decline in transactions. However, six months later, it seems as though the housing market has fully recovered.
Mark Fleming, Chief Economist at First American, announced last week:
“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”
The Economic & Strategic Research Group at Fannie Mae upgraded its forecast for home sales last week:
“Housing data over the past month continued to show a strong V-shape rebound, helping drive the broader economy. Existing home sales jumped to a pace no; ...
Wednesday, July 29, 2020 / by Traci Pimentel
Mid Year Market Update
2020 has most certainly been one for the books!
Covid-19, Protests, Riots, Kobe Bryant, No Olympics, Distance Learning,
Social Distancing, Murder Hornets, Locusts, SpaceX, Australia Burning,
Royals Leaving Royalty, Zoom, and let's not forget, Tiger King.
We've made it past the half-way marker!
Although this year has brought many challenges, these defining moments
have been shaping our economy in a very surprising way.
With many businesses forced to shut down, unemployment rates
sky-rocketed in the initial phase of sheltering at home.
Many were worried they wouldn't be able to pay their mortgages
and would need to rely on a forbearance program.
We have made a surprising rebound, and the Real Estate industry
is leading the pack! For the first time since March of this year,
Home Sales have actually surpassed pre-Covid numbers week over week since May. Here's a look at the past weeks numbers for San Luis Obispo County, informational stats from CAR's J ...