Real Estate in Cambria has seen its shares of ups and downs but for the most part has been one of the more stable real estate markets in San Luis Obispo County. Cambria homes are generally the first to go up in price and the last to come down.
Cambria’s home buyers are generally retirees looking to get away from the big city or second home buyers looking for a place to vacation part time. Generally this is not a first time home buyers market as the cost of living is high, home prices are high, and the economy does not support first time home buyers.
Cambria Real Estate Statistics for Single Family Residential Homes from 2004 until today:
Homes Sold:
2004: 178
2005: 182
2006: 132
*2007: 46
Median Listing Price:
2004: $659,000
2005: $715,500
2006: $712,000
*2007: $680,000
Median Selling Price:
2004: $636,000
2005: $697,500
2006: $708,500
*2007: $653,750
Minimum Selling Price:
2004: $308,000
2005: $390,000
2006: $370,000
*2007: $400,000
Median Days on the Market:
2004: 62
2005: 63
2006: 69
*2007: 97
*Taken May 25th 2007.
These real estate statistics are congruent with the real estate home sales in San Luis Obispo County and the rest of the United States. For the most part we have seen sharp increases over 2004 and 2005, a tapering off in 2006 and then sales and prices falling this year. The minimum sales price of homes in Cambria will continue to rise as water becomes more and more scarce. The cost of water alone in Cambria is nearing $400,000 which is where the minimum selling price is. Water is the most precious resource in Cambria. For more information on water and the build-out reduction plan read about SPA1 and SPA2.
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