SLO County home sales rise a bit in February

kleslie@thetribunenews.comMarch 18, 2014 

San Luis Obispo County home sales once again increased year over year in February, but just slightly.

The total number of homes sold — including new homes, resale single-family homes and condos — was 248, up 2.5 percent from the same month in 2013, according to DataQuick of San Diego.

The overall median home price increased 22 percent to $450,000 in February — the highest median price for that month since 2008.

It also marked the 22nd consecutive month in which the median home sales price has increased year over year.

The median is the midpoint at which 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 10.6 percent to 25,680 total units sold in February compared with the same month in 2013, with the median home price increasing 22.8 percent to $355,000.

In San Luis Obispo County, 77.4 percent of the homes sold in February were resale single-family homes. Those single-family home sales fell 6.3 percent year over year to 192 sold. The median price of those resale single-family homes grew 23.6 percent to $475,000 — also hitting its highest point since February 2008.

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 increased 23.1 percent year over year, with 32 units sold in February. The median price rose 32 percent to $330,000.

Sales of new homes in February more than doubled year over year, with 24 being sold, compared with 11 in the same month in 2013. The median price of a new home increased by 60.4 percent from the same month last year to $462,000.

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