Business

Biz Buzz: Home prices continue their fall

The median price of homes in San Luis Obispo County continued its decline in October while sales rose from a year ago, according to the latest figures from real estate tracker DataQuick Information Systems in La Jolla.

The median price of sold new and resale homes and condos fell to $400,000 in November from $425,000 in the same month of 2008 — a 5.9 percent drop — DataQuick reported.

The countywide median is now into its fourth year of year-over-year declines. The last time the median price — the statistical point at which half of homes sell for more and half for less — rose year-over-year was September 2006.

Local home sales rose 34.3 percent in November from the same month a year before, according to DataQuick. There were 243 homes sold in San Luis Obispo County in November versus 181 in the same month of 2008.

Sales of all homes countywide had dropped 4.1 percent year-over-year in October, according to DataQuick figures.

Resale of condominiums and detached single-family homes surged in November, while new-home sales fell. DataQuick reported that resale condo sales rose 52.9 percent, while resales of single-family homes increased 47.4 percent.

Continuing its streak of year-over-year declines, sales of new homes fell again significantly in November from the same month in 2008. They dropped 32.3 percent in November year-over-year, after dropping 39.1 percent in October.

November’s median price of all homes sold — not accounting for month-to-month and seasonal variations in sale trends — was 8.4 percent higher than October’s $369,000, according to DataQuick. Month-to-month sales fell about 12.6 percent from October to November.

— Antonio A. Prado

SLO auto business marks 25 years

San Luis Auto Interiors is celebrating 25 years of business this month.

Donald Wray, 50, of Paso Robles has owned and operated the shop at 1315 Carmel St. in San Luis Obispo since 1984, and he is the only employee. He learned the trade of fully restoring car interiors from his father and brothers.

— Julia Hickey

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