REVIEW OF THE PAST 5-YEAR PRICE / SALE TRENDS
CAYUCOS
|
YEAR
|
Sales
|
+/- (%)
|
Median
|
+/- (%)
|
Avg. CDOM
|
+/- (%)
|
High
|
Low
|
Avg. SP/LP
|
|
|
|
|
|
|
|
|
|
|
|
|
2003
|
61
|
|
$589,000
|
|
122
|
|
$1,525,000
|
$220,000
|
97%
|
|
2004
|
59
|
-3%
|
$715,000
|
21%
|
104
|
-15%
|
$4,100,000
|
$380,000
|
96%
|
|
2005
|
49
|
-17%
|
$898,000
|
26%
|
98
|
-6%
|
$4,450,000
|
$499,000
|
97%
|
|
2006
|
31
|
-37%
|
$950,000
|
6%
|
111
|
13%
|
$3,900,000
|
$517,000
|
94%
|
|
2007
|
36
|
16%
|
$845,000
|
-11%
|
157
|
41%
|
$3,400,000
|
$500,000
|
94%
|
Cayucos is not immune to the dampened market that we are experiencing in 2008. During the past five years, Cayucos enjoyed two double-digit growths in median home price appreciation of 21% in 2004 and 26% in 2005. The price increase dropped to 6% in 2006 when compared to the previous year. Last year, Cayucos homeowners saw a 11% drop in the median home prices. On the upside, the number of single-family residences improved by 16% in 2007; a huge improvement compared to the 37% decrease in 2006 or the drop of 17% in 2005. Conversely, the average time taken to sell a home in Cayucos is lengthened by 41%, or 157 days versus 111 days in 2006, or the much shorter period of 98 days in 2005. The ratio between the selling price and listed price on home sales in 2007 and 2006 also fell by 3% when compared to a year earlier.
**Avg. CDOM - average cumulative days on the market ** +/- (%) Difference in %
**Avg. SP/LP - average selling price vs. listed price ** Median - refers to median home prices
***Information collated from the Central Coast MLS, deemed correct but not guaranteed.
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