Business

San Luis Obispo County home sales dip, prices rise in March

The overall number of home sales in San Luis Obispo County fell in March, while the median home price rose to $500,000 from the same month a year ago.

Total sales — including new homes, resale single-family homes and condos — were 341 in March, down 9.1 percent from the same month a year ago, when 375 units were sold, according to Irvine-based data company CoreLogic.

The overall median home price rose 4.4 percent to $500,000 in March from $479,000 a year earlier.

The median is the midpoint at which half of the houses sold for more and half for less. Figures are compared year over year because of the seasonal nature of home sales.

CoreLogic does not provide data on the overall California housing market, but the California Association of Realtors reported that closed-escrow sales of existing, single-family detached homes in the state totaled a seasonally adjusted 415,220 units in March, up 5.7 percent from March 2015.

The association reported the median price of a resale single-family detached home in California was $483,280 in March, 4 percent higher than the revised $464,640 recorded in March 2015.

In San Luis Obispo County, 72.7 percent of all sales in March were resale single-family homes, according to CoreLogic. Resale single-family home sales decreased 12.1 percent to 248 units sold in March from the year-earlier month; the median price of these resale homes rose by 6.1 percent to $520,000.

CoreLogic monitors sales of condos and new homes, though percentages on those are subject to large fluctuations because the number of sales is relatively small.

The number of condos sold in the county was 48 units, up 4.3 percent from 46 in March 2015. The median price for condos was $346,250, down 9.6 percent from a year ago.

Sales of new homes decreased by 4.3 percent in March, with 45 units sold, compared with 47 the previous year. The median price of new homes sold decreased by 1.2 percent year over year to $591,000.

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