SLO County's median home price rises in February

The total number of homes sold in San Luis Obispo County — including new homes, resale single-family homes and condos — increased by 1.6 percent in February, while the median price increased by 2.1 percent year over year.

The total number of homes sold increased to 252 units sold, compared with 248 units sold in the same month of 2014, according to DataQuick of San Diego. Figures are compared year over year because of the seasonal nature of home sales.

The overall median home price in February rose from $450,000 in the same month in 2014 to $459,500 in 2015. The median is the midpoint at which half of the houses sold for more and half for less.

California, as a whole, reported that the total number of homes sold in February increased by 0.4 percent year over year to 25,585 homes, while the median price of those homes increased by 6.5 percent to $378,000.

In San Luis Obispo County, the majority of the units sold were resale single-family homes, representing about 81.7 percent of total sales. Most months, this category represents between 70 percent and 80 percent of the total sales volume.

Resale single-family home sales increased 7.3 percent to 206 units sold in February, while the median price fell by 1.2 percent to $469,250. Resale single-family homes was the only category that posted a year-over-year increase in sales volume last month.

DataQuick monitors sales of condos and new homes, as well as sub-county data on home sales in local cities, though these are subject to large fluctuations because the numbers are so small.

The number of condos sold in the county decreased by 18.8 percent in February to 26 units sold, compared with 32 the previous year. The median price increased by 12.9 percent to $372,500.

Sales of new homes decreased by 16.7 percent last month, with 20 units sold, compared to 24 the previous year. The median price increased by 11.1 percent to $513,250.

The largest number of homes sold in the county were in Paso Robles, where 43 units sold last month for a median price of $360,000. Atascadero had the next highest number of units sold, with 37 units in that time period and a median price of $455,000.

The highest median price in the county was reported in Cayucos, where five units sold for a median price of $870,000.