SLO County News BlogGolf, Wine, Real Estate, Business & Travel NewsSan Luis Obispo Real Estate exceeds $600,000 median priceMonday, March 27, 2006San Luis Obispo County's median home price inched past the $600,000 mark last month, reaching $604,170, according to data released by the California Association of Realtors. This was a 2 percent gain from January and a 21.7 percent gain from February 2005, when the median price was $496,430.February's median was still lower than the record set in November 2005 of $605,160. The county saw an 8.1 percent increase in the number of sales of single-family detached homes compared with February of last year. During the same period, the median price of an existing home statewide increased 13.7 percent as the number of sales decreased 15.5 percent. "As expected, year-over-year sales continued to decline from the robust levels of a year ago," said Vince Malta, association president. Statewide, there is an unsold inventory estimated at 6.7 months. In San Luis Obispo County, unsold inventory was 7.6 months in February. That compares with 5.6 months in February 2005. The California Association of Realtors bases its figures and projections on the reported closed escrow sales of single-family detached homes (no condominiums) provided by member associations. Read More
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