While Pismo Beach also suffered price decreases in median sale prices from $765,000 in 2005 to $620,000 in 2009, these decreases are moderate. Compared to many cities in San Luis Obispo County that saw double-digit declines, Pismo Beach was subject to single-digit declines, beginning with 0.33% in 2005 and ending in a loss of 9% in 2009.
Over the five-year period, with the exception of 2007, home sales in Pismo Beach also fell each year. The lowest number of homes sold in the five-year period was at 91 sales in 2009. This figure is almost down to half of what sold five years ago.
Additionally, the time needed to sell a single-family home in Pismo Beach had almost doubled from 79 days in 2005, to 140 days in 2009. The sale-price to list-price ratio also tilted to buyers' favor as we saw sellers receiving an average of almost 10% less than their list prices.
It would be interesting to see how 2010 fared. More to follow.
Notes:
The above data is based on sales of all single-family residences, including mobile homes, condos, stick-built single family homes, etc., in Pismo Beach, CA for the period from 2005 to 2009. Data is culled from the Central Coast Multiple Listing Service, and deemed accurate at time of report but not guaranteed.
**DOM refers to Days on Market
**SP v. LP refers to Sale Price vs. List Price
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If I can provide more information about Pismo Beach real estate and surrounding areas, the housing market, or assist you, friends or family in a home search or sale, please phone or text me at (805) 234-4315 or email me at Sherry@SherrySim.com or visit www.SherrySim.comand www.ShortSalesAndREOs.com.
Serving Cayucos, Cambria, Morro Bay, Los Osos, San Luis Obispo, Pismo Beach, Avila Beach, Shell Beach, Arroyo Grande, Atascadero.
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