| 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 | ||||||
| LOS OSOS | |||||
| SALES | AVG.DOM | HIGH | LOW | MEDIAN | |
| 2007 | 67 | 155 | $225,000.00 | $875,000.00 | $480,000.00 |
| 2008 | 44 | 133 | $266,061.00 | $970,000.00 | $474,000.00 |
| 2008/2007 | -23 | -22 | ($6,000.00) | ||
| % DIFFERENCE | -34% | -14% | -1% | ||
Los Osos saw the highest drop of 34% in home sales in the first half of 2008. During that period, only 44 stick-built single-family homes were sold, compared to 67 homes in 2007.
While fewer homes did sell, home sales improved to the range of $266,061-$970,000 in the first half of 2008. Compared to that range, home sales in the first half of 2007 sold lower, from $225,000 to $875,000.
Another encouraging factor is that the marketing time lessened by 14%. Sellers took an average of 133 days to sell their home, just 22 days shorter than the time needed a year ago.
Additionally, the median sale price remained relatively stable, declining by 1% from $480,000 to $474,000 for the period ending June 30, 2008.
The data in the above table is obtained from the Central Coast Multiple Listing Service (MLS). Information contained herein is deemed accurate but not guaranteed. "AVG. DOM" refers to the average number of days the property is on the market. As noted, only sales of stick-built single-family residences are included in this analysis. Homes priced over $1M are excluded. Condos, PUDs, and mobile homes are also not included in this study.
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