A typical SLO County home costs more than $500,000 — and rising

New homes under construction at Trilogy at Monarch Dunes in Nipomo in October 2016.
New homes under construction at Trilogy at Monarch Dunes in Nipomo in October 2016.

Buyers shopping the San Luis Obispo County the real estate market during the late summer and early fall likely paid more than a half a million dollars for their homes — and that price keeps going up.

The county’s median home price — meaning half of buyers paid more for their houses and half paid less — hit $569,500 in August, up nearly 12 percent from the same time last year, according to Core Logic, an Irvine-based data company.

The median was also up slightly from July, when it was $565,000, although most real estate analysts compare data year-over-year to account for seasonal market changes.

Nearly 4 percent more buyers also purchased homes — 436 bought houses in August 2017 compared to 420 in August 2016.

About 79 percent of buyers purchased resale homes, 12 percent purchased condos and 9 percent purchased new homes.

Buyers spent the most on new homes — the median price was $641,000, down 1.5 percent from 2016. Resale homes were a bit cheaper, with buyers paying a median price of $581,750 — up 10.8 percent from last year.

Condos were the best deal for buyers, with a median price of $395,000 — up 1.3 percent from last year.

Lindsey Holden: 805-781-7939, @lindseyholden27

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San Luis Obispo County's median home price rose to $530,000 in April 2017, up 3.9 percent from April 2016, according to CoreLogic. Here's a closer look at San Luis Obispo's housing market, by the numbers.

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