| REVIEW OF HOME SALES & MEDIAN HOME PRICES |
| ON STICK-BUILT SINGLE-FAMILY HOMES IN NIPOMO |
| |
|
|
(UNDER $1M) |
|
|
| JANUARY-JUNE 2008 VS. JANUARY-JUNE 2007 |
| NIPOMO |
|
|
|
|
|
| |
SALES |
AVG.DOM |
HIGH |
LOW |
MEDIAN |
| 2007 |
80 |
143 |
$996,855.00 |
$360,000.00 |
$565,000.00 |
| 2008 |
85 |
133 |
$900,000.00 |
$246,000.00 |
$499,900.00 |
| 2008/2007 |
5 |
-10 |
|
|
($65,100.00) |
| % DIFFERENCE |
6% |
-7% |
|
|
-12% |
The above statistics showed that Nipomo, like Grover Beach and Pismo Beach saw a decline of 12% in the median home price. In the first half of 2008, the median home price was $499,900. That declined by $65,100 from $565,000 a year ago. At the same time, overall home sale prices also fell to $246,000 at the low end, and up to $900,000 at the high end.
Unlike many of her counter-parts in San Luis Obispo County, Nipomo enjoyed a slight increase in home sales, by 6%. 85 homes sold in the first half of 2008, 5 more homes than the first half of 2007. Similarly, home sellers during this time took a slightly shorter time to sell their homes. The average marketing time was 10 days shorter, or 133 days in January-June 2008 versus 133 days in 2007.
The above report was compiled based on the following:-
- "AVG. DOM" refers to the average number of days on the market, or the average marketing time needed to sell the home.
- The data is compiled from the Central Coast Multiple Listing Service as of August 22, 2008. The information is deemed accurate but not guaranteed.
- Only stick-built single-family residences under $1M are included in this report.
- Due to fewer $1M-plus sales, sales on similar properties selling more than $1M are excluded.
- Condominiums, planned development units, townhouses and mobile homes are not included in this report.
;)
;)
