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.
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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.
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