County home sales do an about-face in March

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

Sales of all homes including new and resale detached homes and condominiums, increased 11.2 percent year-over-year in March, with 277 homes sold, compared with 249 homes sold in March 2010.

March sales increased 41.3 percent over February, in which 196 homes were sold.

The median sales price of all homes in the county declined in March to $345,000 from $365,000 in the same month a year ago. That’s a 5.5 percent drop from the previous year.

However the median price — the statistical point at which half of homes sell for more and half for less — increased 7.8 percent over February, when it was $320,000.

Home sales in the category of resale detached homes rose nearly 4.5 percent in March over the same month last year, with 231 sales, compared with 221 in March 2010.

March’s total rose nearly 35 percent, from February of this year, when 171 homes were sold.

The median price of resale detached homes in the county fell 5.4 percent in March to $350,000 from $370,000 recorded in the same month a year ago.

The March median price increased 6 percent from February’s median of $330,000.

Sales of existing condos grew 78.9 percent in March from the year-earlier period.

A total of 34 condos were sold in March, compared with 19 in March 2010. In February 2011, 19 were also sold.

In March, the median price of condominiums decreased 2.9 percent to $303,500 from $312,500 in March of last year. It also rose 2.2 percent from February’s median of $297,000.

Weakest were sales of new homes in March, with a total of 12 homes sold, compared with nine sold in March 2010, a 33 percent increase.

Six new homes also sold in February of this year.

The median price of new homes rose in March to $385,000 from $309,500, an increase of 24.4 percent from the previous year.

The new-home median increased 18.1 percent from February, when it was $326,000.