Market Update - San Luis Obispo

REVIEW OF THE PAST 5-YEAR PRICE / SALE TRENDS

SAN LUIS OBISPO

Compared to the towns/cities on the North Coast, single-family properties in San Luis Obispo appear to sell faster. In 2007, homes sold in less than 100 days, despite the increase of 17% in the average marketing time over 2006. The median sale price improved from $500,000 in 2003 to $655,000. The 6% decline in 2007 in the median home price versus 2006 prices did not erase any earlier gains, such as the 20% price increase in 2004/2003, or the 12% improvement in 2005 over 2004. Being the metropolitan center in San Luis Obispo county, the city of San Luis Obispo has a higher sales inventory and activity. The average selling price/list price ratios for the period reviewed showed that buyers paid close to asking prices, between 1-3%, compared to 3-6% on the North Coast.

**Avg. CDOM - average cumulative days on the market ** +/- (%) Difference in %

**Avg. SP/LP - average selling price vs. listed price ** Median - refers to median home prices

***Information collated from the Central Coast MLS, deemed correct but not guaranteed.