JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007
| LOS OSOS |
|
|
|
|
|
| |
SALES |
AVG.DOM |
HIGH |
LOW |
MEDIAN |
| 2007 |
124 |
125 |
$2,100,000.00 |
$225,000.00 |
$471,000.00 |
| 2008 |
103 |
129 |
$1,750,000.00 |
$110,500.00 |
$435,000.00 |
| 2008/2007 |
-21 |
4 |
($350,000.00) |
($114,500.00) |
($36,000.00) |
| % DIFF. |
-17% |
3% |
|
|
-8% |
For January-December 2008, Los Osos saw a drop of 17% in sales of stick-built single-family homes when compared to the same period in 2007. The number of stick-built single-family homes sold fell from 124 in 2007 to 103 in 2008.
At the same time, sellers took more time - an additional four days based on an average marketing time of 129 days to sell their properties in 2008 compared to a year ago.
The median home price decreased by 8% from $471,000 in 2007 to $435,000 in 2008. The decrease is not surprising as we saw fewer sales of higher priced properties.
Out of the 103 stick-built single-family homes sold in 2008, almost 64% or 66 out of 103 homes are under $500,000. Only five of these sales were priced over $1 million.
The data obtained from the Central Coast Multiple Listing System reflects more sales in the lower price ranges due to short sales and foreclosures in this small coastal town.
Notes:
1. AVG. DOM = Average Days on Market
2. Data compiled from Central Coast MLS, deemed correct but not guaranteed.
3. Only stick-built single-family residences are included.
4.. Condos, PUDs, and mobile homes are not included in this study.
;)
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