SLO County home sales, median price increase in September

kleslie@thetribunenews.comOctober 23, 2013 

The San Luis Obispo County housing market once again soared in September.

The total number of homes sold in San Luis Obispo County — including new homes, resale single-family homes and condos — was 309 last month, up 5.5 percent from the same month in 2012, according to DataQuick of San Diego.

This is the most homes sold in a September since before the recession in 2006, when 348 were sold.

The overall median home sale price in San Luis Obispo County increased 7 percent in September from the year-earlier period to $420,000.

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.

About 77.7 percent of the homes sold were resale single-family homes.

Those sales fell 3.2 percent to 240, marking the first time since 2007 that the number of resale single-family homes has decreased year-over-year.

Despite the decrease in sales volume, the median price of resale single-family homes grew 15.3 percent to $461,000, its highest point since September 2007.

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 stayed stagnant year over year with 39 units being sold in September (the same as in 2012), but the median price rose 21 percent to $302,500.

Sales of new homes in August increased by 400 percent year over year, with 30 being sold compared with six in the same month in 2012.

The median price of a new home decreased by 22.8 percent from the same month last year to $400,500.

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