Central Coast MLS Statistics -Residential -December 2007
(Last months data is also included - December (November))

New Listings - 403 (489)
Back on Market - 230 (197)
Price Changes - 636 (1053)
Contingent - 50 (50)
Pendings - 285 (334)
Solds - 233 (240)
Expireds - 405 (375)
Inactives/Withdrawns - 270 (328)

The above data includes SLO County Plus Santa Maria/Orcutt.

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December is always a slow month and this December is no different. Pending Sales were down almost 20% from the levels of the last few months. When January Solds are reported in the newspaper many weeks from now, you'll read how low they are but you'll already know that since you read this blog!

Months of Inventory (MOI) for SLO County continues to increase, up to 16.0 months from 15.1 months 30 days ago. Santa Maria/Orcutt had a good month and when you add in that area, the MOI for SLO County/Santa Maria Valley actually went down to 14.5 months (from 15.4).

Inventory levels for individual cities were lower in most cities than 30 days ago. Atascadero and Arroyo Grande had the biggest drops but when you calculate the MOI for these cities, the months went up because of few sales in December. Arroyo Grande and Atascadero each had 10 solds for the month. Santa Maria had 36, Orcutt 27, Paso Robles 23, and San Luis Obispo 19. Cayucos only had 1 Sold in December which really made its MOI jump (to 51 months of inventory).

The city of San Luis Obispo reduced their MOI for the first time in a few months (from 9.3 to 8.3 months). Orcutt had a good month, lowering their MOI to 9.6 months.

I updated the statistics graph, inventory levels, and Month of Inventory calculations on the http://www.slowatch.com/ site.

I'll be working on the 4th quarter median home price reports and year-end reports later this week.