March SLO County Market Update

Hey SLO County March is here and we've got a lot to get excited about, especially with spring just around the corner. But let's talk real estate. Interest rates have held steady in recent months. Remember, toward the end of 2023, those projections about rates dropping by now. Well, that hasn't happened yet. The Fed's holding off on cuts due to strong economic indicators. They will likely hold off until the summertime, maybe June, maybe July.

So what is the key takeaway here? Don't try and time the market. It's a reminder that while projections offer insights and some useful information, your game plan should be tailored to your goals, your situation, and your local market. All right. Now let's dive into some numbers. For February for the County. The median home price went up to $879,000, which is a pretty significant jump from January's $781,750. Home sales also saw a boost with 185 total sales in February compared to 166 in January. Guess what? More inventory is expected to hit the market as we head into spring.

Exciting times ahead, right? Speaking of excitement, there's plenty happening in our county this month. Stay in the loop by subscribing to our newsletter and follow us on social media. Don't miss our national market update coming up next. Tune in and stay informed. We will see you there.