Like the rest of San Luis Obispo County, home sale prices in Cambria has been declining steadily since 2006. The median sale price dropped from $705,000 in 2006 to a low level of $515,000 last year. Sellers were impacted as the sales prices also decreased in proportion to their asking prices. The result is sellers receiving less money on each sale.
On a brighter note, while the number of homes sold during this period also declined, we saw a jump of 24% in home sales in 2009. At the same time, the number of days needed to sell a home averaged 137 days in 2009. That reflected an improvement of 12% or 19 shorter days when compared to a year ago.
Does this mean that home sales are on the mend in Cambria? Will we see higher home sales and improvement in prices? Another review will be made following the close of 2010.
The above data is based on sales of all single-family residences, including mobile homes, condos, stick-built single family homes, etc., in Cambria, CA for the period from 2005 to 2009. Data is culled from the Central Coast Multiple Listing Service, and deemed accurate at time of report but not guaranteed.
**DOM refers to Days on Market
**SP v. LP refers to Sale Price vs. List Price
If I can provide more information about Cambria real estate and surrounding areas, the housing market, or assist you, friends or family in a home search or sale, please phone or text me at (805) 234-4315 or email me at Sherry@SherrySim.com or visit www.SherrySim.com and www.ShortSalesAndREOs.com.
Serving Cayucos, Cambria, Morro Bay, Los Osos, San Luis Obispo, Pismo Beach, Avila Beach, Shell Beach, Arroyo Grande, Atascadero.
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