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Published: 7:13 am Wednesday, Dec. 02, 2009

Home prices still slipping in San Luis Obispo County, data shows

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San Luis Obispo County home sales — as well as the median home price — continued to slide in October, according to the latest information from MDA DataQuick, a Southern California-based real estate tracking firm.

Sales of all homes, including new and resale single-family detached homes and condominiums, dropped 4.1 percent year-over-year in October, with 278 homes sold that month compared to 290 sold the same month a year ago.

The median price — the statistical point at which half of homes sell for more and half for less — also fell to $369,000 in October, an 11.6 percent drop from October 2008 when the median stood at $417,500. Learn the trick

Here’s a closer look:

• Sales of existing single-family homes increased 3.2 percent in October when 223 homes were sold, up from 216 in the same month a year ago. The median price for existing single-family homes dropped 8.4 percent, however. The median price in October for this category was $392,250, down from $428,250 in October 2008.

• Resale condos also saw a slight decline in sales in October. Condo sales in the county dipped 3.6 percent, with 27 sold, one less than was sold in the same month a year ago. The median sales price of condos in October dropped 23.4 percent. The median for condos was $245,000 in October, compared to $320,000 in October 2008.

• New home sales experienced a significant year-over-year drop in sales and median sales price. In October, sales of new homes plunged 39.1 percent. A total of 28 new homes sold that month, compared to 46 in October 2008. The median price of new homes slid to $347,500 in October from $502,500 in the same month the previous year, a 30.8 percent drop.

— Julie Lynem

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