| REVIEW OF HOME SALES & MEDIAN HOME PRICES | ||||||
| ON STICK-BUILT SINGLE-FAMILY HOMES IN NORTH COAST-SLO COUNTY | ||||||
| (UNDER $1M) | ||||||
| JANUARY-JUNE 2008 VS. JANUARY-JUNE 2007 | ||||||
|
CAMBRIA |
|||||
| SALES | AVG.DOM | HIGH | LOW | MEDIAN | |
| 2007 | 50 | 155 | $395,000.00 | $915,000.00 | $633,000.00 |
| 2008 | 35 | 164 | $315,000.00 | $940,000.00 | $610,000.00 |
| 2008/2007 | -15 | 9 | ($23,000.00) | ||
|
% DIFFERENCE |
-30% | 6% | -4% |
Like other areas in San Luis Obispo County, Cambria suffered a big drop (-30%) on home sales during the first six months of this year. Compared to the same period last year, only 35 stick-built single-family residences sold versus 55 homes a year ago.
To compound matters, the time needed to sell increased by 9 days from 155 in first half 2007 to 164 in 2008. The price range did not alter very much. Homes in the lower price ranges fell to $315,000 from $395,00, while interestly, homes in the higher price ranges saw an improvement in more homes selling up to $940,000 versus $915,000 last year.
The median sale price in Cambria declined by 4% from $633,000 to $610,000. Currently, Cambria has the second highest median sale price in North Coast-San Luis Obispo County that includes Cayucos, Morro Bay, Los Osos/Baywood Park and San Simeon.
Data used in the above table is obtained from the Central Coast Multiple Listing Service (MLS). The information is deemed correct, but not guaranteed. Only single-family homes priced under $1M are included in this analysis. Those properties that are priced over $1M are not included. Also, condos, PUDs, and mobile homes are not included in this study.
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