June home sales show year’s first overall decline

Home sales in San Luis Obispo County ended several months of growth in June, declining slightly for the first time this year, according to real estate tracker DataQuick.

Overall home sales fell 1.9 percent year-over-year in June, with 307 residential sales versus 313 in June 2010, the San Diego-based firm reported.

Sales of new homes and resale condos dragged down that figure, with resale detached single-family homes — the largest component of the residential market — continuing their sales growth in June as that category’s median price dropped again.

Meanwhile, the countywide median home price dropped the second straight month in June, falling 16.8 percent year-over-year to $333,250 from $349,500 in June 2010, according to DataQuick. So far in 2011, the median price increased only in April.

The median is the statistical point at which half of sales were over that amount, and half were below it.

Home sales and the median price are tracked because they are considered signs of strength or weakness in the residential real estate market — a significant part of the local economy.

Sales of resale detached single-family homes grew 9.7 percent in June, with 259 sales versus 236 in June 2010, according to DataQuick.

That growth came as the median price of single-family homes fell 14.1 percent in June to $360,750 from $420,000 a year before.

Condo sales in San Luis Obispo County fell 20 percent year-over-year, with 36 selling this June from 45 in June 2010. The median sales price of condos dropped 26 percent to $192,500 year-over-year from $260,000 in June 2010.

Sales of new residences — now the smallest category of the residential real estate market — dropped 62.5 percent in June, with 12 sales countywide versus 32 in the same month of 2010.

The median price of new homes fell 33.9 percent year-over-year to $351,500 versus $532,000 in June 2010, according to DataQuick.