Review of Home Sales & Median Sales Prices in Morro Bay : 2009 to 2011
|
2009 |
2010 |
2011 |
Sales |
108 |
112 |
158 |
Median Sales Prices |
$509,750 |
$451,000 |
$400,000 |
Avg. Days on Market |
151 |
128 |
144 |
A review of the past three years' median sales prices in Morro Bay shows an almost consistent decrease in sales prices. In 2010, the median sales prices declined by about 11.5% when compared to the same period a year ago. A year later in 2011, the median sales prices dropped by about 11.3%.
The lower sales prices probably led to the spike in the number of homes sold in 2011 where 46 more homes were sold, or an increase of about 41%, when compared to 2010.
Interestingly, the average number of days needed to sell a home in Morro Bay declined by 23 days in 2010, and went up by 21 days a year later.
Notwithstanding the low inventory, sales prices in Morro Bay may continue on the downtrend in 2012.
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Notes: Condos and mobile homes are not included in the above statistics.
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Info provided as a courtesy by Sherry Sim, Broker/Owner of Sims & Company, offering real estate services in Cayucos, Cambria, Los Osos, Morro Bay, San Luis Obispo & rest of beautiful Central Coast, San Luis Obispo County.
For real estate information, including list of foreclosures and short sales,
please call/text Sherry @ (805) 234-4315 or Email: Sherry@SherrySim.com.
Data culled from local Multiple Listing System (M.L.S.), and deemed reliable at time of posting but not guaranteed.
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