SLO County's median home price rises to $415,000

kleslie@thetribunenews.comJuly 24, 2013 

Both home sales and prices in San Luis Obispo County were up in June across all categories — single family, condo and new homes.

At $415,000 in June, the median sale price was 12.4 percent higher than in June 2012, marking the 14th consecutive month in which it rose year-over-year.

It was still 29.1 percent lower than the peak June median of $585,000 in 2006, according to figures released by DataQuick of San Diego.

The median is the midpoint where half of the residences sold for more and half for less; figures are compared year-over-year because of the highly seasonal nature of home sales.

The median price paid in June for a home in California was $352,000, up a record 28.5 percent from $274,000 in June 2012, according to DataQuick. The statewide home price median peaked in spring 2007 at $484,000, with a post-peak trough of $221,000 in April 2009.

In San Luis Obispo County, 367 homes were sold in June, compared with 331 a year earlier. Approximately 78.5 percent of the homes sold were resale single-family homes. Those sales grew 2.9 percent year-over-year to 288, and their median price grew 12.4 percent to $430,000.

DataQuick also tracks sales of condos and new homes, though data for those categories are subject to large swings because the sales numbers are so small.

Condo sales rose 19.4 percent year-over-year to 43 units in June, and the median price grew 26 percent to $331,000.

Sales of new homes in June rose 140 percent year-over-year to 36 homes, compared with 15 new homes sold in the same month in 2012. The median price for new homes in June, at $419,000, was 44.1 percent higher than the year before.

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