SLO County median home price rises to $504,500 as sales decline
San Luis Obispo County’s home prices continued to climb in June, while sales declined.
The county’s median home price — meaning that half of the homes sold for more and half sold for less — was $504,500, up 0.9 percent from June 2016, according to CoreLogic, an Irvine-based data company. The median price was down about 7 percent from May, when it was $543,500.
Analysts typically compare prices year-over-year, rather than month-over-month, because sales are subject to seasonal changes.
Overall home sales — which include resale single-family houses, new houses and condos — slipped. Four hundred forty-one houses were sold in June, compared to 465 during the same month last year.
About 79 percent of all county homes sold in June were resale homes, with condos making up 12 percent and new houses about 9 percent.
Resale homes sold for a median price of $525,000, up nearly 3 percent from June 2016. Condos sold for a median price of $399,000, an increase of about 2 percent from last year. New homes sold for a median price of $445,000, down 25.5 percent from last June.
Lindsey Holden: 805-781-7939, @lindseyholden27
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This story was originally published August 16, 2017 at 9:42 AM with the headline "SLO County median home price rises to $504,500 as sales decline."