The San Luis Obispo County housing market showed subtle year-over-year decreases in units across most categories of homes sold in May but increases in home sales prices, marking a slower beginning of the summer homebuying season.
The total number of homes sold — including new homes, resale single-family homes and condos — was 394, down 1 percent in May over the same month a year ago when 398 units were sold, according to Irvine-based data company CoreLogic.
The overall median home price rose 6.7 percent to $480,000 in May from $450,000 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.
Premium content for only $0.99
For the most comprehensive local coverage, subscribe today.
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 California totaled a seasonally adjusted 423,360 units in May, up 8.9 percent from the year-earlier period.
The California Association of Realtors also reported the median price of a resale single-family detached home was $485,830 in May, 4.4 percent higher than the revised $465,470 recorded in May 2014.
In the county, the majority of the units sold were resale single-family homes, representing about 76.6 percent of total sales, according to CoreLogic.
Resale single-family home sales decreased 2.6 percent to 302 units sold in May, while the median price rose by 5.5 percent to $490,500, 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 51 units, down 3.8 percent from 53 in May 2014. The median price for condos was $352,500, up 3.2 percent.
Sales of new homes increased by 17.1 percent in May, with 41 units sold, compared with 35 the previous year. The median price of new homes decreased by 3.3 percent to $554,000.