SLO County Golf, Wine & Real EstateGolf, Wine & Real Estate News and Events Blog
30 Percent Slowdown in SLO County Home SalesWednesday, June 28, 2006San Luis Obispo County's median home price rose 4.2 percent last month while sales decreased by nearly 30% compared with the same period a year ago.The median price of an existing home was $556,670 in May, up from $534,440 the year before, according to the California Association of Realtors. In April, the median price - the statistical point where half of homes sell for more and half for less — reached $599,360. The record median price for the county was $605,160 in November 2005. The total number of homes sold, meanwhile, dropped 29.8 percent compared with the same period in May 2005. The slowdown in the county follows a statewide trend. The median price of an existing home in California increased 8 percent last month and sales decreased 21.1 percent compared with May 2005, the association reported. Vince Malta, president of the California Association of Realtors, attributes the dip in sales is to rising interest rates. He also urged sellers to make sure their homes are "competitively priced in today’s changing market." Last month, the median number of days to sell a single-family home was 44, compared with 27 days for the same period last year. Agents in San Luis Obispo County have also reported longer selling times and increased inventory. Tags: San Luis Obispo Central Coast Real Estate |
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