| REVIEW OF HOME SALES & MEDIAN HOME PRICES | |||||
| ON STICK-BUILT SINGLE-FAMILY HOMES IN NORTH COUNTY | |||||
| (UNDER $1M) | |||||
| JANUARY-JUNE 2008 VS. JANUARY-JUNE 2007 | |||||
| TEMPLETON | |||||
| SALES | AVG.DOM | HIGH | LOW | MEDIAN | |
| 2007 | 43 | 109 | $260,000.00 | $950,000.00 | $587,000.00 |
| 2008 | 35 | 116 | $280,000.00 | $919,000.00 | $503,000.00 |
| 2008/2007 | -8 | 7 | ($84,000.00) | ||
| % DIFFERENCE | -19% | 6% | -14% |
Among the three established communities in North San Luis Obispo County, Templeton's median home prices on stick-built single-family residences declined the least, by 14% from $587,000 to $503,000 in the first half of 2008 when compared to the same period in 2007.
Home sales on these properties dropped by 19% from 43 to 35 during the first six months of 2008 versus the same period a year ago. Sellers also faced a slightly longer time to sell their homes between January-June 2008 versus the same six months in 2007. In the first half of 2008, homes sat for 116 days; an additional week before they were sold.
Home sales continue to be sluggish in Templeton during summer of 2008. A further review and update should be available after fall of this year.
The abbreviation "AVG.DOM" refers to 'average days on the market' or the average number of days needed to promote the property. Data is obtained from the Central Coast MLS and deemed accurate as of August 21, 2008, but not guaranteed. Due to sufficient homes sold under the $1M range, only stick-built single-family homes sold under $1M are included. Similar homes costing more than $1M are excluded. Condos, PUDs, and mobile homes are not included in this study.
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