Business

April home sales and prices rise in San Luis Obispo County

The median home price and the overall number of home sales in San Luis Obispo County rose in April, from both the month earlier and the same month a year ago.

Total sales — including new homes, resale single-family homes and condos — were 419 in April, up 6.3 percent from the same month a year ago, when 394 units were sold, according to Irvine-based data company CoreLogic.

The overall median home price rose 9.3 percent to $510,000 in April from $466,500 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 406,800 units in April, down 5.4 percent from April 2015.

The association reported the median price of a resale single-family detached home in California was $509,100 in April, 5.1 percent higher than the revised $484,370 recorded in April 2015.

In San Luis Obispo County, 78.5 percent of all sales in April were resale single-family homes, according to CoreLogic. Resale single-family home sales increased 2.8 percent to 329 units sold in April from the year-earlier month; the median price of these resale homes rose by 9.7 percent to $525,000.

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 51 units, up 37.8 percent from 37 in April 2015. The median price for condos was $392,000, up 20.5 percent from a year ago.

Sales of new homes increased by 5.4 percent in April, with 39 units sold, compared with 37 the previous year. The median price of new homes sold increased by 2.9 percent year over year to $526,000.

Submit news and notes items for Biz Buzz. Email: bizbuzz@thetribunenews.com; on Twitter @SLOBizBuzz; phone: 781-7902; fax: 781-7905; mail: Biz Buzz, The Tribune, P.O. Box 112, San Luis Obispo, CA 93406-0112.

Tell us your best business advice

What’s the best piece of business advice you’ve ever received? And how has it helped make you more successful in your business/professional life? Tell us in 100 words or fewer, and send it to bizbuzz@thetribunenews.com. We will publish them in future Biz Buzz columns.

  Comments