The San Luis Obispo County housing market showed strong year-over-year increases in both the number of homes sold and their median price in June with one exception, marking a busy summer home-buying season. Only the number of condos sold declined.
The total number of homes sold — including new homes, resale single-family homes and condos — was 390, up 10.2 percent in June over the same month a year ago when 354 units were sold, according to Irvine-based data company CoreLogic. This month’s data are missing the last two days of the month; numbers will be updated next month.
The overall median home price rose 12 percent to $515,000 in June from $460,000 in the year-earlier period. 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.
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Because of a change in ownership, data from CoreLogic on the overall California housing market was not available.
But the California Association of Realtors reported that closed escrow sales of existing, single-family detached homes in the state totaled a seasonally adjusted 437,040 units in June, up 11 percent from the year-earlier period.
The association also reported the median price of a resale single-family detached home was $489,560 in June, 7 percent higher than the revised $457,700 recorded in June 2014.
In San Luis Obispo County, the majority of the units sold were resale single-family homes, representing nearly 78 percent of total sales, according to CoreLogic.
Resale single-family home sales increased 10.2 percent to 303 units sold in June, while their median price rose by 7.4 percent to $518,000, according to CoreLogic.
CoreLogic monitors sales of condos and new homes, as well as sub-county data on home sales in cities, though these are subject to large fluctuations because the numbers are so small.
The number of condos sold in the county was 46 units, down 16.4 percent from 55 in June 2014. The median price for condos was $377,000, up 9.9 percent.
Sales of new homes increased by nearly 71 percent in June, with 41 units sold, compared with 24 the previous year. The median price of new homes sold increased by 22.3 percent to $592,500.