Home sales and prices rise in SLO County during September
San Luis Obispo County’s median home price rose 6.1 percent to $525,000 in September, compared with $495,000 a year earlier. The total number of home sales rose 2 percent.
Total sales — including new homes, resale single-family homes and condos — were 406 in September, compared with 398 units sold in the same month a year ago, according to Irvine-based data company CoreLogic.
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.
The California Association of Realtors reported that closed-escrow sales of existing, single-family detached homes in the state totaled 425,680 units in September on a seasonally adjusted annualized rate, up 0.8
percent from September 2015. The statewide sales figure represents what would be the total number of homes sold during the year if sales maintained the September pace, according to the association.
The association reported the median price of a resale single-family detached home in California was $514,320 in September, 6.1 percent higher than the revised $484,670 recorded in September 2015.
In San Luis Obispo County, about 79.8 percent of all sales in September were resale single-family homes, according to CoreLogic. Resale single-family home sales increased 6.2 percent to 324 units sold in September from the year-earlier month. The median price of these resale homes rose by 8 percent to $551,000.
CoreLogic also monitors sales of condos and new homes, though percentages on those are subject to large fluctuations because the number of sales is relatively small.
The number of condos sold in the county was 48 units, down 11.1 percent from 54 in September 2015. The median price for condos was $418,250, up 3.7 percent from a year ago.
Sales of new homes decreased 12.8 percent in September, with 34 units sold this year. The median price of new homes sold decreased by 11.5 percent year over year to $491,250.
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This story was originally published November 22, 2016 at 4:47 PM with the headline "Home sales and prices rise in SLO County during September."