SUMMARY As of April 17, 2007, Los Osos offers 107 properties for sale, of which 86 are ‘stick-built’ single-family homes. The above review of the homes sales for first quarter of 2007 shows a slight price drop of 0.8% in the median sale price when compared to the same period last year. The number of homes sold continues to decrease in Los Osos. For the first quarter this year, 30 homes sold; just two down from the figure sold during the first quarter of 2006. In addition, the time taken to sell a single-family residence has increased dramatically by about 38% to an additional 37 days. For the first quarter this year, it took 134 days to sell a single-family residence. So, what’s selling in Los Osos? As of April 17, 2007, 24 properties are pending sale. Six of these homes (mostly mobile homes) are priced between $90,000-350,000. The next group comprised eight properties in the $350,000-450,000 range. Two each are priced between $450,000-500,000 and $600,000-650,000. Three other properties are over the $1M range, while the remaining pending sales are scattered in different price ranges. Again, what’s noticeably missing are homes priced between $750,000-999,000. For some reason, homes in the $750,000-999,000 are not moving. What’s the outlook for real estate in Los Osos? Home prices will remain depressed, as they have been in Los Osos, due to the sewer moratorium that’s in placed for many years. In addition to the sewer moratorium, there’s also a water moratorium in Los Osos. The sewer situation has worsened, since the Los Osos Community Services District’s (LOCSD) declared bankruptcy last year. Some hope is in sight. Federal funding is currently being sought. For more information on the sewer moratorium in Los Osos, please visit Another review will be made at the end of the second quarter. |