The California Association of Realtors has named CENTURY 21 Hometown Realty as one of the “Real Trends 500” for 2017. The Arroyo Grande based brokerage ranked 1st on the Central Coast out of all brokerages and 54 in the nation of C21 brokers with 1117 transactions.
The REAL Trends 500, now in its 31st year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms. Rankings are produced in several ways. Firms are ranked first by closed transaction sides, then by sales volume. Recognizing that realty services firms do more than broker housing transactions, core services, such as mortgage, title insurance, escrow, property/casualty insurance and other types of products related to the real estate process.
“It is quite an honor to be named to the Real Trends 500 list. We are so proud of all of our agents. They work hard to take excellent care of all of our clients before, during and after the sale which is what I believe is the secret to our success and this achievement,” explains Amy Gallagher, C21 Hometown Realty Broker. “2017 was a record-breaking year for our brokerage and with the all new rebrand of C21, we are matching the same record-setting pace for 2018. It’s an exciting time for C21 Hometown Realty!”
About Century 21 Hometown Realty – CENTURY 21 Hometown Realty is the leading real estate firm on the central coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.
It’s Mid-State Fair time here on the Central Coast! A timeless tradition of true Americana, celebrating our heritage of agriculture, arts, crafts, competitions and show-stopping entertainment. Bright lights, carnival rides, fair food, exhibits and top-name entertainers were just some of the reasons that a record-breaking 430,000 guests made the trek to Paso Robles in 2017.
If the entertainment line-up is a top indicator for guest attendance, 2018 will be on track to deliver large Fair audiences once again. The free concert stage is hosting well-known artists such as Crystal Gayle, Monte Mills, Kris Kristofferson, Bear Market Riot, Big Bad Voodoo Daddy and newer artists For King & Country and recent winner of The Voice, Cassadee Pope. The main stage will light up each night with stars such as Florida Georgia Line, Pitbull, Demi Lovato, Gabriel Iglesias, ZZ Top, Tim McGraw with Faith Hill and Luke Bryan.
In addition to the draw of America’s top entertainers, Mid-State Fair offers great family entertainment with Livestock Competitions, Horse Shows, Petting Zoo, Country Finals Rodeo, Robotics for Kids, Tractor Races, Youth Performances and a newly revamped Carnival. The Mid-State Fair offers great entertainment value for the low admission price of $8-$12. If you will be attending multiple days, the Season Pass is the way to go, just $30 for children 6-12 and $60 for Adults offering admission everyday to the fairgrounds.
Not only do Central Coast residents flock to this event but it attracts huge crowds from all around the state. That means big dollars and big business for the area, especially Paso Robles. Hotels, motels and restaurants feel the biggest impact but even retail stores benefit from the tens of millions of dollars the Mid-State Fair brings to the community each year.
As Realtors, we love a great renovation! Renovations are serious hard work but when done right, bring great satisfaction. The keys to a successful project are making sure you start with a solid structure, good planning, incorporate beautiful style but the layout must be warm, inviting and functional. We’re happy to announce C21 Hometown Realty has just completed a flip of our C21Home.com website and we’ve accomplished all of that!
We have redesigned it with you in mind, streamlining menus, simplifying navigation, building a responsive layout for all platforms and providing more resources and information on real estate. Let’s face it technology has changed the way people buy and sell real estate. Our goal was to ensure our customers have the data and information that are most important to buyers and sellers all at their fingertips, all in one stop.
At C21 Hometown Realty, we take great pride in truly being the hometown experts. With technology today, it’s easy to find data on a house or city. When choosing a home in a community, we know our customers want to know the heartbeat of what makes that town or city special. As a new feature, we have added profiles showcasing the unique climate, culture, schools and lifestyle within each community. We have even added an events feature so you know all the activities and things to do that are upcoming on the calendar!
Technology is all about making our lives easier, some days we hate it but we can probably all agree that it’s hard to imagine life without it! At C21 Hometown Realty, we see technology as providing tools to make the home buying and selling faster and easier for our customers. But at the end of the day, the key to a successful real estate transaction is always you, our customer. So we invite you to checkout our new website at C21Home.com then contact us because our success has always been and always will be about our relationship with you!
Scant Supplies of Listings Push up Prices for Burned out Buyers
Arroyo Grande, CA – December 20, 2017−Inventories of homes for sale in California’s Central Coastal Counties reached its lowest levels in November, driving prices up and home buyer confidence down.
Home sales declined in San Luis Obispo County for the fourth straight month as low inventories, and rising prices discouraged buyers. In Santa Barbara County, families who lost their homes for fire will see home prices soar to keep up with demand. Over 1000 homes were destroyed by fire and more than 250 were damaged.
Santa Barbara County will find that choices are unusually slim and prices are inflated by the lack of supply. Both active listings and new listings are close to five-year lows, according to the November Market Report from Century 21 Hometown Realty.
By the end of November, active listings in San Luis Obispo County were 16 percent lower than they were a year ago and 42 percent lower than they were in November 2013. Santa Barbara County reported only half as many homes for sale as there were a year ago. Short supplies in both counties are reducing the time it takes to sell in both counties.
Median sales prices continued to rise in both counties, tieing a record high in San Luis Obispo County, and short supplies curtailed sales volume, which declined by 8.6 percent in San Luis Obispo County and 62 percent in Santa Barbara County from November 2016.
“Burned-out families seeking new homes in Santa Barbara County might wait until the spring sales season opens when there will be hundreds of new listings and hopefully, relief from upward pressure on prices. More homes on the market will provide a greater choice of properties,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
“Conditions are still very favorable for homeowners who are thinking about selling. Prices are about five percent higher than they were a year ago but prices are expected to moderate next year,” said Ms. Gallagher. In November, CENTURY 21 Hometown Realty participated in 70 home sales worth a total of $35,352,582
San Luis Obispo County
Home sales unit volume in San Luis Obispo County in November fell for the fourth straight month Year over year unites declined to 8.6 percent from November 2016 and 3.3 percent from October.Total sold dollar volume in the country fell 1.8 percent from October to $125,758,32. However, sales bested the five-year average by 4.9 percent.
Home prices in the county rose 4.7 percent above October prices and 15.5 percent above prices in 2016. The median sold price for the homes in the county reached $560,000. Listings took 20 percent longer to sell in November that in October. The closing process continues to be slow and lenders take added steps to comply with government mandates. But the process is improving year over year. The median days to contract, which rose to 40 days, was still 14.9 percent faster than in 2016.
Supplies of homes for sale declined for the third straight month. Active listings were more than one-third lower than they were a year ago, down by 34 percent, the lowest year over year deficit since January. Despite rising prices, fewer owners listed their homes. New listings in November were 38 percent lower than they were a year ago and 7.1 percent below the five-year average. “Normally sellers stay off the market during the holiday – but there is so much pent-up buyer demand that we are encouraging our sellers to get into the market and stay there,” says Gallagher.
In the city of San Luis Obispo, home sales fell 3.9 percent from October and were 3.9 percent lower than they were a year ago. At $619,471, the city’s median sale price was 2.4 percent lower than October and 4.7 percent lower than a year ago. Total sold dollar volume for the city fell by 14.3 percent in November to $31,804,094. Homes sold in 19 days, two days faster than in October. Prices also fell slightly, to a median of $619,465, 2.4 percent lower than October and 4.7 percent lower than a year ago. Active listings were 42.2 percent below the five year average for the city, and the city recorded only 27 new listings in November, down 31.4 percent from the five-year average.
In Atascadero, sales increased 11.1 percent from October but were also 11.1 percent lower than a year ago. Prices rose 16.1 percent over 2016 and ended the month1.8 percent lower than they were in October. The median sold price fell to $473,750. Homes sold in only 27 days, 40 percent faster than last year.
Sales in Arroyo Grande rose 5.7 percent over October and ended the month 39.6 percent above 2016; Total sold volume rose 39.6 percent to $22,544,125. Prices also rose by 4.6 over last year but fell 18.5 percent from October. New listings in Arroyo Grande were 53 percent above the five-year average, and active listings trailed the average by 23.8 percent.
At the end of November, supplies of homes for sale in Santa Barbara County were 50 percent lower than they were a year ago at this time, making house hunting difficult for owners who lost their homes to fires. New listings were also weak, 54.9 percent below the five-year average.
November sales in Santa Barbara County improved slightly on a monthly basis but still trailed last year by 62 percent. The county’s median sold price rose to $387,000, up from October but 5.6 percent below a year ago. Total sold volume for November fell to $44,193,004, 26.1 percent lower than October. Homes sold faster in November than October by 19.5 percent, from 40 to 37 days.
In Santa Barbara city, sales fell 14.3 percent from October and ended the month 50 percent below last year. Total sold volume for November declined by 7.2 percent to $12,288,000. On a small number of sales, the city’s median sold price soared 112.6 percent from October to $1,431,500. Homes sold in 86 days, 14 percent faster than in October.
In Santa Maria, home sales rose 14.9 percent over October, but still trailed 2016 by 49.1 percent; Total sold dollar volume fell to $21,863,600, down 5.6 percent from October. Prices fell 4,4 percent, and the city’s median sold price dropped to $382,500. Active listings were down 60 percent from the five-year average.
CENTURY 21 Hometown Realty is the leading real estate firm on the central coast. Since 1947, it has supported the needs of homesellers and buyers throughout California’s Central Coast region with 19 branch locations in San Luis Obispo and Santa Barbara. Our offices cover the California Coast from Paso Robles in the north to Ventura County in the south.
We offer specialty services including Luxury Real Estate, Agricultural and Ranch Real Estate, Vineyards, Ocean Front Real Estate, Commercial Real Estate, and Residential Real Estate. Our agents have a keen focus on these areas and multilingual and generational expertise. Visit our website at C21Home.com to see our California listings and our office locations.
Inventories are Chronically Low as New Listings Trail 2016 Levels
Arroyo Grande, CA – November 15, 2017
With the opening of the fall season, home prices sales cooled off in San Luis Obispo and Santa Barbara Counties for the second month in a row. Prices continued to rise as the three-year drought of listings continued. Higher prices and fewer homes to choose discouraged buyers and percent lower than they were a year ago, according to the October Market Report from Century 21 Hometown Realty.
The change in seasons did not help home sales, which melted in the record heat of September and remained flat or even lower in October. Sales fell 32 percent from September in San Luis Obispo County. They rose 3.2 percent in Santa Barbara County but were still 89.5 percent below sales at this time last year.
In both counties prices ended the month higher than they were a year ago, approaching five-year peak prices reached earlier in the year. Demand remained strong in San Obispo County where houses sold 16.2 percent faster then they did in September, but not in Santa Barbara County, where median time on market is now 46 days, 130 percent longer than in September.
Higher prices did not motivate enough owners to make a dent in the inventory drought. Both counties reported fewer active listings than a year ago and fewer new listings. Despite higher prices, fewer owners listed their homes for sale
“The chronic shortage of homes for sale the Central Coastal region is limiting choices for buyers and pushing prices higher. With the arrival of the fall season, housing markets are changing, but we are still in a sellers’ market. Tight inventories will probably continue through the fourth quarter, and prices should remain strong, It’s a great time for owners to list their homes and take advantage of the appreciation before conditions change,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty. In September, CENTURY 21 Hometown Realty closed on 95 homes totaling $41,885,639.
Century 21 Hometown Realty is supporting a ballot initiative by the California Association of REALTORS® to amend California Tax code to enable more homeowners to “cary” their Prop 13 tax benefit with them when they switch houses. This initiative is expected to hit the ballot in about a year. For now, the ballot initiative is being drafted and signatures are being collected. According to Gallagher, “people who have lived in their homes a long time are frequently paying half of the property taxes relative to the value of their home. This creates a disincentive to moving that may be lessened by the new legislation.” The California Association of REALTORS® has passed a special assessment to all REALTORS® in the amount of $100 each to cover the expected $30 Million to $50 Million that it will take to fund the ballot initiative. Century 21 Hometown is in favor of assessment and is hopeful that headway can be made quickly in Sacramento.
San Luis Obispo County
Home sales in San Luis Obispo County in October rose 3.2 percent from the previous month and were only 1.2 percent lower than they were a year ago. Total sold dollar volume reached $199,259,006, 5.2 percent lower than October. The county’s median sale price of $535,000 was 8 percent higher than it was a year ago and only 3 percent below the county’s all-time high.
Demand was high in October and homes in San Luis Obispo County sold in 31 days, one day fewer than in September. Supplies of homes for sale fell for the fifth straight month and were 5 percent lower than September and 15 percent below October 2016. New listings fell 62 percent from last year and were 12 percent higher than they were in from September.
In the city of San Luis Obispo, home sales rose 20.9 percent from August bit were 10.3 percent lower than in October 2016. At $634,354, the city’s median sale price rose by 3.2 percent and was 12.9 percent higher than a year ago. Total sold dollar volume rose to $37,093,201up 33.5 percent from September and 12.9 percent above the median price a year ago. Homes sold in 21 days, 34.7 percent faster than in September. Active listings were 10.8 percent lower in October than they were a year ago.
In Atascadero, sales fell 14.5 percent from August but were 12.2 percent lower than a year ago. The median sold price reached $482,500, up 7.7 percent from September Homes sold in 14 days, 58.8 percent faster than the previous month.
October sales in Santa Barbara County rose 3.2 percent over September but were 69.5 percent below last year. Prices rose 3.1 percent in October and 15.1 percent over a year ago to reach a median price of $40,909. Total sold volume in the county fell to $59,816,258.
Total active listings in Santa Barbara County fell 52 percent below levels in 2016, and new listings declined 62 percent from last year. Homes sold in 46 days, 27.5 percent slower than a year ago.
In Santa Barbara city, sales rose 40 percent over September, and the total sold volume fell to $13,242,260. The median sales price fell 46.1 percent from September to a median of $1,691, 751. Prices fell 32,9 percent from last year to a median price of $673,500. Houses sold in 100 days.
The city of Santa Maria saw sales fall 62.4 percent from September Prices rose 18.1 percent to a median of $400,000. Homes sold in 48 days, 71.4 percent slower than in September.
CENTURY 21 Hometown Realty is the leading real estate firm on the central coast. Since 1947, it has supported the needs of homesellers and buyers throughout California’s Central Coast region with 19 branch locations in San Luis Obispo and Santa Barbara. Our offices cover the California Coast from Paso Robles in the north to Ventura County in the south.
We offer specialty services including Luxury Real Estate, Agricultural and Ranch Real Estate, Vineyards, Ocean Front Real Estate, Commercial Real Estate, and Residential Real Estate. Our agents have a keen focus on these areas and multilingual and generational expertise. Visit our website at C21Home.com to see our California listings and our office locations.
Arroyo Grande, CA – October 19, 2017─Home sales in San Luis Obispo and Santa Barbara Counties wilted in the record heat in the last weeks of September. The summer ended with rising prices and seasonally low inventories of homes for sale, according to the September Central Coastal Market Report from Century 21 Hometown Realty.
High prices and meager supplies of homes for sale in both counties discouraged buyers. Sales fell in two of the three summers, lowering pressure on inventories. The deficit between 2017 and 2017 shortages remained steady in San Luis Obispo County during the season and fell in Santa Barbara County, raising hopes that the inventory deficit has bottomed and supplies will begin to improve. In San Luis Obispo County, the time it took for a house to receive a contract after being listed significantly increased in August and September, a sign of reduced pressure from buyers.
Lower demand also relieved upward pressure on prices. Both counties reported healthy price increases in August and September. San Luis Obispo’s median price was only $5,000 below the county’s five-year price record, which was set in July. Homes sold for about 5 to 5 percent below their listings prices in both counties−another signs that the market is stabilizing compared to the spring months.
“Autumn in the Coastal Counties is shaping to a better time for buyers than spring or summer. New listings are replacing sold homes, which keeps the supply of homes fresh for buyers. Homes are still selling. Sold homes are being replaced by new listings, keeping inventories fresh and steady.
Rates are still very low, and local home price increases in our region are slowing down. If you are a first-time home buyer, the remaining months of the year may produce some bargains,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
In June, CENTURY 21 Hometown Realty closed on 88 homes totaling $41,113,300.
San Luis Obispo County
September home sales rose less than 1 percent over August and ended the month 6.6 percent higher than they were last year. Total sold dollar volume reached $210,242,114 for the month. At $550,000, the county’s median sales price was only $500 below the county’s five -year high. Homes are selling in 32 days, 20 percent slower than in August.
Supplies of homes for sale in September were 1 percent less than in August and 14 percent lower than a year ago. About 13 percent fewer properties were listed in September than in August. Homes sold in 37 days, a slower pace than in August.
In the city of San Luis Obispo, home sales dropped 11 percent from August and were 13 percent lower than in September 2016. At $615,000 the county’s median sale price fell slightly, by 1.6 percent, but was 2.7 percent higher than a year ago. Total sold dollar volume dropped to $27,791,803, down 11.8 percent from July Homes sold slowly in August, in 78 days, 21,9 percent lower than in August. Active listings were 30 percent lower than they were a year ago.
In Atascadero, sales fell 8.9 percent from August but were still 7.9 percent higher than a year ago; The median sales price reached $448,000. Homes sold in 34 days, much slower than in
August..
September sales in Santa Barbara County continued to fall at a faster rate than prices rose. Sales were down 10 percent from August and 70.4 percent from a year ago. The county’s median sold price rose 5,4 percent over August to reach $397,500. Total sold volume in the county fell to $415,517,292.
Total active listings in the county fell 9 percent from August and 53 percent from 2016. The dramatic decline resulted from a large-scale fall-off of new listings, which were 72 percent lower than a year ago and 34 percent from a month ago. Slim inventories helped to shorten the median time on market to 20 days.
In Santa Barbara city, sales dropped 37.5 percent in September for a total sold volume of $16,449,877. Sales fell 44.4 percent below September 2016 and prices fell 32,9 percent from last year to a median price of $1,250,000. Houses sold in a median of 205 days.
The city of Santa Maria saw sales fall 62.4 percent from August and 6 percent from September 2016, Prices rose 8.1 percent to a median of $376,000. Homes sold in 35 days, 25 percent than in August.
Arroyo Grande, CA – September 18, 2017─ Despite a continued shortage of homes for sale, home sales in San Luis Obispo and Santa Barbara Counties recovered in August after falling 6 percent in July. August sales rose 13.5 percent over July in the two-county region and ended the month 2 percent higher than they were a year ago and total sold volume of h comes in the region rose nearly 20 percent over July.
Sales rose despite low inventories, which were lower than they have been all summer and were 15 percent lower than they were a year ago. Listings in the two counties were 15 percent lower than they were in August 2016.
Prices in the region leveled from July, falling less than 1 percent, but were 6.8 percent above prices a year ago. Low inventories and rising prices continued to limit choices for many buyers and discouraged demand slightly. Homes spent two days longer to sell in August than July, as median days on market rose from 17 to 19 days. August was the fifth straight month in which listings in the region spent fewer than 20 days on market before receiving a contract. Some 70 percent of homes sold above their current value during the month.
“As the summer season comes to an end, demand for homes in the Central Coastal Region remains extraordinarily strong and more than two out of three homes are selling above their current value. Throughout the summer, prices have been rising at rates of 6 to 7 percent and as much as 17.5 percent in the city of San Luis Obispo. As our super-heated market enters the fall season, sellers can take advantage of the extraordinary price appreciation to date this year. This is still a very strong market to list a home,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
In August, CENTURY 21 Hometown Realty closed on 105 homes totaling $48,275,299.
San Luis Obispo County
August home sales in San Luis Obispo County rose 12.7 percent in August and ended the month 3 percent above last year’s total for the month Total dollar sold volume for the county soared, reaching $234, 549, 588, which was 13.7 percent above July and 15.2 percent above a year ago. Prices slipped 1 percent from July, to a median sales price of $550,000, the second highest price over the past five years. Demand remains very strong in the county.
Supplies of homes for sale in the county were 15 percent lower than they were a year ago. New listings were 9 percent lower than the five-year average for August as fewer homeowners listed their homes for sale. Inventories of active listings trailed year over year total by double digits for the third month in a row as demand overpowered the supplies of new listings throughout the summer. However, homes sold much slower in August than July, as time on market rose from 18 to 31 days, which was still nearly 21 percent faster than a year ago.
In San Luis Obispo, tight inventories drove down sales and demand. August sales fell 37.3 percent from July and were 11.3 percent lower than they were a year ago. Total sold dollar volume fell to $31,517,516 50, down 30.3 percent from July. Prices rose 2.5 percent from June and were 17.5 percent higher than a year ago, reaching a median sold price of $625,000. Active listings were 35.7 percent below the five-year average for August and new listings were down 13.3 percent from the five-year average. Homes sold in 21 days, 31.1 percent lower than in May.
In Atascadero, real estate sales had an outstanding month. Sales were up 44 percent over July and ended the month 21.4 percent higher than they were a year ago. Prices also rose, by 19.6 percent over July and 26.4 percent over August 2016, to reach a new median sales price of $550,000. Homes flew off the shelves, selling in only nine days.
Sales in Santa Barbara County did not recover, but fell 7 another percent in August after declining 44.4 percent in July. August sales were 68.5 percent below levels of a year ago. The drop in sales reflected dramatically depleted inventories, leaving buyers with fewer choices. Active listings in the county were 48 percent lower than they were a year ago and new listings were 68 percent lower.
The lack of supply drove prices up 6.3 percent from July and 13 percent over a year ago to reach median price for the county of $419,950. More than nine out of ten sales in the county, 91.5 percent, were priced above current value. Rising prices helped to drive total dollar sold volume for the county up 58.2 percent over July, to $49,038,400. At 34 days, the median time on market for sales in the county did not change from July,
Strong demand slightly decreased the median time on market for Santa Barabara County sales, from 31 to 28 days, the fastest time since March.
In Santa Barbara city, a few very expensive sales drove the total dollar sales volume to $19,112,700, up 151.1 percent from July, though there were only 8 total sales in the city. The pricey sales drove the median price for the city to $1,450,000, up 56.2 percent from July. Active listings trailed levels of a year ago by 20 percent.
The city of Santa Maria saw sales rise 11.1 percent over July, but sales still trailed levels of a year ago by 64.3 percent. The city’s median sold price fell to $355,000, down 5.3 percent from July. Homes sold much faster in Santa Maria in August, for a median time on market of 22 days, down 21.4 percent from July.
CENTURY 21 Hometown Realty is the leading real estate firm on the central coast. Since 1947, it has supported the needs of homesellers and buyers throughout California’s Central Coast region with 19 branch locations in San Luis Obispo and Santa Barbara. Our offices cover the California Coast from Paso Robles in the north to Ventura County in the south.
We offer specialty services including Luxury Real Estate, Agricultural and Ranch Real Estate, Vineyards, Ocean Front Real Estate, Commercial Real Estate, and Residential Real Estate. Our agents have a keen focus on these areas and multilingual and generational expertise. Visit our website at C21Home.com to see our California listings and our office locations.
High Prices Make Homes Unaffordable and Fail to Attract Sellers in San Luis Obispo and Santa Barbara Counties
Arroyo Grande, CA – August 18, 2017,─ The drought of homes for sale in San Luis Obispo and Santa Barbara Counties last month drove up prices to record levels, making homes less affordable and limiting choices for buyers. Sales responded by falling significantly below levels of a year ago for the second straight month.
Despite lower sales, inventories of active listings in both counties remained depressed, significantly lower than in 2016 and about 50 percent smaller than inventories in July 2014, the year the inventory drought began. A fourth straight month of extraordinarily low numbers of new listings kept inventories from increasing.
Facing prices rising over 6 percent a year and slim listings, buyers were further hampered by the speed with which homes are selling in the two-county region. Homes in San Luis Obispo County spent a median of only 18 days on market before receiving contracts from buyers, the second straight month that the county has set a five-year time on market. Homes in Santa Barbara County sold in a median of 34 days,
“Conditions could not be more ideal for Central Coastal homesellers than they are today. Over the past three years, prices in the region have risen about 30 percent, or ten percent a year. Prices are at or near all-time highs and homes are selling in two or three weeks. With the end of the summer season in sight, owners who are thinking of taking advantage of this extraordinary market should act now before prices taper off in the months to come,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
In June, CENTURY 21 Hometown Realty closed on 108 homes totaling $48,772,795
San Luis Obispo County
July home sales in San Luis Obispo County fell 12.4 percent from July 2016, and 9.8 percent from June, the lowest number of closed sales since April. Total sold dollar volume for the month was $205,923,399. Listings spent a median of only 18 days on market before receiving a contact, setting a five-year record for the second month in a row.
Supplies of homes for sale in the country were 14 percent lower than they were a year ago and 29.8 percent lower than the five year average for the county. New listings plunged to 18 percent below July 2016 as fewer homeowners listed their homes for sale. Despite the drop in demand, inventories of active listings could not keep up with sales and fell 1 percent from June.
Prices in San Luis Obispo County rose 7 percent from June and ended the month up 6.7 percent higher than they were a year ago. The county’s median sold price of $555,500 set a five-year record for the count, breaking the record set two months ago. Prices may have reached a peak, at least temporarily, as the median price for new listings in the county fell 9 percent from June. For the fourth straight month, sellers realized 99 percent of their list prices at closing.
Strong demand and tight supplies resulted in a new five-year record for time on market for the third time in the past four months. The median time for listings to receive a contract fell to 18 days from 19 days in June and 20 days in May and April, the previous records. A year ago, in July 2016, the median time on market was 34 days.
In the city of San Luis Obispo, sales rose 50 percent in July from June and were 15.4 percent lower than a year ago. Total sold dollar volume in the city for July was $45,242,775. 43.2 percent higher than in June. Prices rose 1 percent from May to a median sold price of $610,000, 6.6 percent higher than a year ago. Active listings were 30 percent below levels of a year ago, and new listings were down 41 percent from June and were 38 percent lower than in June 2016. Homes sold in 34 days, 19.1 percent slower than in May.
Sales in Santa Barbara County plunged 44.4 percent from June and were 68 percent lower than a year ago as buyers struggled to find affordable homes for sale. Sales were 65 percent below the five-year average for the county, the fourth straight month that sales fell short of the five-year average. The total sold dollar volume of June sales rose slightly from May to $30,090,723, 6.4 percent below June.
At $395,000, the median price for homes sold in July rose 4.1percent from June and 10.6 percent higher than July 2016. Prices will likely continue to rise next month as the median price of new listings in the county rose to $433,000 in July.
Supplies of homes for sale in the county declined even more in July, falling 5 percent from June, and ended the month 45 percent lower than a year ago. For the second month in a row, a very low level of new listings kept inventories on the rocks. New listings were 68 percent lower than they were a year ago.
Soft demand increased time on market for Santa Barbara County homes. Homes sold in 34 days, slower than 14 days in June and 30.8 percent slower than a year ago and the longest time on market since March.
In Santa Barbara city, total sales volume ended the month at $7,612,000, down 45.5 percent from June and sales were up 50 percent from June, The median sales price rose to $928,500 in July.
Sales in Santa Maria rose 50 percent in July and prices were up 6.6 percent from June, reaching a median of $375,000 for the month. Total sold dollar volume fell to $16,349,900, up 49 percent from June. Homes sold faster in Santa Maria in May, spending only 28 days before they received a contract.
June Prices Remained Strong, but Sales Declined in San Luis Obispo
and Santa Barbara Counties
Arroyo Grande, CA – June 18, 2017─ Homes flew off the shelves in San Luis Obispo and Santa Barbara Counties last month as demand remained strong despite rising prices and chronically low inventories of homes for sale that are so serious they depressed sales in California’s Central Coastal Region, according to the June Central Coastal Market Report from Century 21 Hometown Realty.
Homes in San Luis Obispo County spent a median of only 19 days on market before receiving contracts from buyers while Santa Barbara homes sold even faster, at 14 days on market. Both counties set five-year records for time on market.
Supplies of homes for sale in both counties remained far below last year’s levels and helped to keep prices near peak levels. Despite strong prices in both counties and record-fast time on market, new listings in s new listings were lower than in June 2016 and could not keep up with demand. Lack of choices and rising prices combined to frustrate buyers and June sales fell significantly below May’s pace in both counties.
“The sellers’ market in the Central Coastal is stronger now than it was two or three months ago when prices were hitting all-time peaks. Now homes are selling so quickly that qualified buyers can’t find homes to buy. Not only are prices near all-time highs, in May and June, but new listings are also priced significantly that the current media sales prices in both San Luis Obispo and Santa Barbara counties. Sellers have been getting nearly 100 percent of their listing prices.
“However, the unexpected decline in June sales could signal a fall-off of demand in the balance of the summer. Owners who are thinking of taking advantage of these extraordinary market conditions should act now or risk less favorable conditions in the fall and winter months,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
San Luis Obispo County
June home sales in San Luis Obispo County fell 11.1 percent from June 2016, and 5.8 percent from May, resulting in a total sold dollar volume of $221,356,814 for the month. Listings spent a median of only 19 days on market before receiving a contract, a five-year record.
Supplies of homes for sale have increased steadily, from 1057 in February to 1255 in June, but they are still 11.5 percent below last June and 38 percent lower than June 2014, the first year of the three-year inventory drought that has plagued real estate markets nationwide. New listings in June were 9.4 percent lower than last June and 11.4 percent fewer than the number of new listings in May.
Prices in San Luis Obispo County fell slightly from the previous month were still significantly higher than a year ago. The county’s median sold price of $519,000 was 8.1 percent higher than a year ago and 1.8 percent lower than in May when the county’s median sales price broke a five-year price ceiling. Prices may continue to escalate, as the median price for new listings in the county reached $608,000 in June.
Strong demand and tight supplies resulted in a five-year record for time on market. The median time for listings to receive contracts fell to 19 days. A year ago, in June 2016, the median time on market was 25 days.
In the city of San Luis Obispo, sales fell 25.4 percent from May and were 33.3 percent lower than a year ago. Total sold dollar volume for June was $31,594,450. Prices rose 8 percent from May to a median sold price of $603,750 11.9 percent higher than a year ago. Active listings were 16 percent below levels of a year ago, and new listings were 9 percent higher than in June 2016. Home sold in 16 days, which was higher than the median of 9 days in May.
In Atascadero, sales fell 6.7 percent from a year ago and 10.5 percent from May. Total sold dollar volume dropped to $$18,691,599. The city’s median sold price reached $429,000,250, a 5.4 percent over sales a year ago and 10.3 percent higher than May. Homes sold in only 16 days, 20 percent faster than in May.
Sales in Santa Barbara County declined nine percent from May and helped to push year-over-year sales down 11.8 percent in May. June marked the third straight month that sales in the county were far below the five-year average for the month. However, the total sold dollar volume of June sales rose slightly from May to $33,.093,319
1At $379,500, the median price for homes sold in June fell 9.6 percent from May but was still 4.3 percent higher than last June and well above the county’s average five-year median price of $325,405. Prices will likely continue to rise next month. At a median of $477,777, new listings in June are 10.4 percent more expensive than in May.
Arroyo Grande, CA – June 20. 2017─Home sales rebounded in California’s Central Coastal Counties last month as inventories slowly improve across the three-county region. As homesellers responded to rising spring prices, sellers gobbled up homes within two or three weeks in most markets, reversing the Apri sales slump. A wave of new listings in San Luis Obispo and Ventura Counties help to improve sales and stabilize the three-year inventory drought that drove down sales in April. Homes continued to sell quickly as rising prices failed to dampen demand in the three-county region.
Prices in San Luis Obispo and Ventura Counties appreciated at a healthy pace about 5.5 to 5.7 percent over last year, but prices in Santa Barabara County remained about 11 percent lower than they were a year ago. Better conditions for buyers helped sales to improve in Santa Barbara County, but both prices and sales trail last year’s levels.
“Sellers are taking advantage of the best seller’s markets in many years. New listings are giving buyers more choices, which results in more sales. In most areas, prices are continuing to increase at a healthy pace, which is building equity for homeowners. While the conditions for sellers remain excellent, buyers are finding more homes coming onto the market. As the summer begins, real estate markets across the region are stabilizing, and sales will continue to improve,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
In February, CENTURY 21 Hometown Realty closed on 143 homes totaling $66,777,242.
San Luis Obispo County
May sales rebounded from April’s 30.3 percent decline, ending the month 17.3 percent greater than they were a year ago. Sales were up 17.3 percent in May and 27 percent higher than in April. Total sold dollar volume rose 19.2 percent to $225,214,754.
The county’s year-over-year deficit of homes for sale declined for the fourth straight month as inventories improved. New listings in May were only 6 percent below 2016, an improvement over February when there was 21 percent fewer homes for sale than there were in February 2016.
Prices in San Luis Obispo County were stable in May. The county’s median sale price fell only $500, to $528,500, which was 5.1 percent higher than a year ago. Homes continued to sell at the torrid pace set ibn April; the median home in the county had a contract in 20 days, 20 percent faster than a year ago.
Sales in San Luis Obispo city fell 39.5 percent in May but sales and were 1.5 percent greater than they were a year ago. Total sold volume rose 28.5 percent in April and ended the month at $39,924,650. The city’s median price fell to $559,000, a 12 percent decline from April and 2.2 percent below a year ago. Active listings were 26 percent below a year ago, a serious fall off but an improvement over the 40 percent deficit in March. Homes in San Luis Obispo sold in a median of only nine days.
In Atascadero, sales fell 5 percent from a year ago and 22 percent from April sales. Total sold dollar volume dropped to $$19,746,800, up 10.7 percent from April. The city’s median sold price reached $478,250, a 24.5 percent over sales a year ago and 9.9 percent higher than April. Homes sold in only 20 days, 17,7 percent slower than in April.
For the second straight month, sales in Santa Barbara County rose again in May, doubling the volume in April but they still trailed sales a year ago by 64.4 percent. Total sold volume also declined, to a$34,047,774, a fall of 71.6 percent below Mary 2016. The median price in the county fell slightly to $332,750, 14.78 percent below the median in April. ,
Softer demand helped to increase the time that listings spent on market in the county from 20 days in April to 32 days in May. Despite slower demand, the county’s supply of homes for sale did not improve, declining 4 percent from April. A small decline in new listings also contributed to tighter inventories in May set a new five-year record for low inventories in the county.
In Santa Barbara city, total sales volume ended the month at $7,422,500, down 41 percent from April. Total sales also fell, by 33.8 percent from April and ended the month 45.5 percent below a year ago. The median sales price fell to $958,000 in May.
Sales in Santa Maria fell 22.6 percent from April and were 70.3 percent below closings a year ago., slightly better than April. Prices rose 2.8 percent to reach a medianof $401,000 for the month. Homes sold faster in Santa Maria in May, spending 19 days on market before they received a contract.
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LuisObispo County (blue) and Santa Barbara County (red)
