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News is mixed on SLO County home sales

Home sales in San Luis Obispo County increased in February over the same month a year ago, but declined from the previous month, according to the latest figures from DataQuick, a real estate tracking firm.

Sales of all homes, including new and resale detached homes and condominiums, increased 15.3 percent in February, with 196 homes sold, compared with 170 the previous year.

However, fewer homes were sold last month than in January 2011, when 211 were sold, a 7 percent drop.

The median price of all homes in the county declined in February to $320,000 from $369,000 in the same month a year ago. That’s a 13.3 percent drop from the previous year.

The median price — the statistical point at which half of homes sell for more and half for less — increased slightly (barely half of 1 percent) from January when it was $318,500, DataQuick reported.

Home sales in the resale detached category jumped nearly 28 percent in February over last year, with 171 sales last month, compared with 134 in February 2010. February’s total dropped slightly, or nearly 4 percent, from January of this year, when 178 homes were sold.

The median price of resale detached homes in the county fell 12.3 percent in February to $330,000 from $376,250 recorded in the same month a year ago. February’s median price increased little (0.6 percent) from January’s median of $328,000.

Sales of existing condos fell nearly 30 percent in February from the year-earlier period. A total of 19 condos were sold last month, compared with 27 in February 2010. In January, 24 were sold.

Last month, the median price of condominiums increased 26 percent to $297,000 from $235,250 in February of last year. It also jumped 37.5 percent from January’s median of $216,000.

New home sales were the weakest in February, with a total of six homes sold, compared with nine sold in February 2010, a 33 percent drop. Nine homes also sold in January of this year.

The median price of new homes also fell in February to $326,000 from $438,000, a decline of 25.6 percent from the previous year. The new-home median increased 3.2 percent from January, when it was $316,000.

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