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SLO County’s median home price up to $510,000 as sales also rise

jjohnston@thetribunenews.com

More homes were sold in San Luis Obispo County in November compared with the previous year, and the median price of those homes also increased.

Total sales — including new homes, resale single-family homes and condos — were 371 in November, compared with 295 units sold in the same month a year ago, according to Irvine-based data company CoreLogic. The median price of those homes increased slightly to $510,000 from $500,000.

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.

The California Association of Realtors reported that closed-escrow sales of existing, single-family detached homes in the state totaled 442,320 units in November on a seasonally adjusted annualized rate, up 17.7 percent from November 2015. The statewide sales figure represents what would be the total number of homes sold during the year if sales maintained the November pace, according to the association.

371 Number of houses sold in San Luis Obispo County in November 2016

The association reported the median price of a resale single-family detached home in California was $501,710 in November, 4.9 percent higher than November 2015.

In San Luis Obispo County, about 77.1 percent of all sales in November were resale single-family homes, according to CoreLogic. Resale single-family home sales decreased 29.4 percent to 286 units sold in November from the year-earlier month. The median price of these resale homes rose by 4.3 percent to $532,000.

CoreLogic also 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 41 units, up 28.1 percent from 32 in November 2015. The median price for condos was $405,000, up 25.3 percent from a year ago.

Sales of new homes increased slightly by 4.8 percent in November, with 44 units sold, compared with 42 the previous year. The median price of new homes sold decreased by 11.4 percent year over year to $587,500.

Kaytlyn Leslie: 805-781-7928, @kaytyleslie

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