SLO County home sales, median price up in January

kleslie@thetribunenews.comFebruary 18, 2014 

After a three-month lull in sales numbers, the total number of homes sold countywide in January — including new homes, resale single-family homes and condos — again increased year-over-year.

The total number of homes sold was 261, up 19.7 percent from the same month in 2012, according to DataQuick of San Diego.

The overall median home price increased 5.5 percent to $400,000 in January — the highest median price for that month since 2008.

It also marked the 21st consecutive month in which the median home sales price has increased year-over-year.

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

Statewide, the number of sales fell by 10.5 percent to 25,832 total units sold in January, with the median home price increasing 21.7 percent to $353,000. San Luis Obispo County was the only Central Coast County to report an increase in homes sales volume. Out of the four Central Coast counties, Monterey County reported the largest decrease in total number of homes sold with 26.4 percent fewer homes sold. Santa Barbara County reported the highest total median sales price at $415,000.

In San Luis Obispo County, 72.8 percent of the homes sold in January were resale single-family homes. Those single-family home sales grew 8.6 percent year-over-year to 190. The median price of those resale single-family homes grew 13.4 percent to $436,500 — also hitting its highest point since January 2008.

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

Condo sales increased 12.5 percent year-over-year, with 36 units sold in January. The median price rose 3.3 percent to $309,000.

Sales of new homes in January increased by 218.2 percent year-over-year, with 35 being sold, compared with 11 in the same month in 2013. The median price of a new home decreased by 19.1 percent from the same month last year to $344,000.

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