California median home prices set a new record in May — and San Luis Obispo County houses sold for even more, according to a new California Association of Realtors report.
A California single-family home sold for a median price of $600,860, topping the previous median high of $594,530 set during the pre-Great Recession housing boom more than 10 years ago, according to the organization's May home sales and price report.
Median prices indicate half of buyers paid more for their homes and half of buyers paid less. The report draws on data collected from a survey of more than 90 Realtor associations statewide.
San Luis Obispo County homes sold for a median price of $638,660, a 12 percent increase over the May 2017 median. Home sales in the county increased just three-tenths of a percent in May 2018 compared to 2017.
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The region's median price was $597,505 in April, meaning it increased nearly 7 percent month over month.
Median prices for homes in Santa Barbara and Monterey counties were just slightly more expensive. Santa Barbara County homes sold for a median of $680,000, while Monterey County homes went for $677,000.
The Bay Area had the highest median home costs in the state, with many counties' prices topping out at well over $1 million.
San Mateo County's May median hit $1.6 million, actually down almost 10 percent from the area's April median of $1.77 million. San Francisco County's $1.62 million median just slightly topped its neighbor's midpoint.
The cheapest homes were sold on the far northern end of California and in the Central Valley.
Homes in Tehama County, near Chico, sold for a median price of $197,500. In Kings County, buyers purchased homes for a median price of $235,000, close to Fresno County's $279,980 midpoint.