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

kleslie@thetribunenews.comAugust 29, 2013 

The overall median home sale price in San Luis Obispo County — including new homes, resale single-family homes and condos — increased to $415,000 in July, marking the 15th consecutive month in which it rose year over year.

It increased 13.7 percent from the July 2012 median price of $365,000, though it was still 24.4 percent lower than the peak July median of $548,750 in 2006, according to 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 California median price for homes sold in July increased 29.2 percent year over year to $363,000.

With 48,118 homes sold statewide, July also marked the highest sales count for any month since August 2006 when 51,054 homes were sold.

In San Luis Obispo County, 431 homes were sold in July, compared with 369 a year earlier.

About 78 percent of the homes sold were resale single-family homes. Those sales grew 13.2 percent year-over-year to 335, and their median price grew 11.4 percent to $445,500.

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 10 percent year-over-year to 55 units in July, though the median price fell 10.1 percent to $271,000.

Sales of new homes in July rose 78.3 percent year-over-year, compared with 23 new homes sold in the same month in 2012. The median price of a new home nearly quadrupled from the same month last year: Of 41 new homes sold in July, the median price was $449,500, which is about 274.6 percent more than the July 2012 average of $120,000.

The Tribune is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service