JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007
| CAMBRIA |
|
|
|
|
|
| |
SALES |
AVG.DOM |
HIGH |
LOW |
MEDIAN |
| 2007 |
97 |
157 |
$4,250,000.00 |
$375,000.00 |
$700,000.00 |
| 2008 |
80 |
157 |
$2,350,000.00 |
$315,000.00 |
$632,500.00 |
| 2008/2007 |
-17 |
0 |
($1,900,000.00) |
($60,000.00) |
($67,500.00) |
| % DIFF. |
-18% |
0% |
|
|
-10% |
Among the coastal towns/cities in San Luis Obispo county, Cambria suffered the highest decline of 10% in the median home price in 2008 when compared to the same 12 months a year ago. The median home price for 2008 was $632,500. This is a drop of $67,500 from $700,000 in 2007.
Sales of stick-built single family residences in Cambria suffered a big decline of 18% @ 80 sales versus 97 sales in 2007. A review of the data from the Central Coast Multiple Listing System shows that the bulk comprising about 73% of the home sales are in the mid-level price range, from $500,000-$999,999. The next level of sales, ie. 15%, are in the lower price ranges which are under $500,000, with the remainder sales (13%) falling in the over-the-$1-million price range.
Unlike the other areas, the consolation is that the average marketing time is unchanged, @ 157 days.
Home sales and home prices are expected to decline in Cambria, at least till end of this year.
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 included.
4. Condos, PUDs, and mobile homes are not included in this study.
;)
;)
