SLO County home prices rise, but sales fall
The price of an existing, single-family home in San Luis Obispo County inched up in December compared to a year ago, as sales continued to slide from the same period in 2005, according to the California Association of Realtors.
The monthly median price — the statistical point where half the homes sold for more and half for less — was $537,740, a 0.5 percent increase from the previous December when the price registered at $534,930, and a 0.9 percent increase from November 2006, when the association recorded a median price of $532,890.
Meanwhile, home sales in the county dipped nearly 15 percent from December 2005, the association reported. Sales rose 9.1 percent in November 2006.
The trend was much the same statewide, with home sales in California decreasing 15.3 percent in December compared to the same month in 2005. The median price in California increased 3.7 percent over the previous year.
“The market continues to level out as buyers and sellers search for common ground in today’s more balanced environment,” Colleen Badagliacco, president of the association, said in a news release issued Thursday. “The number of homes for sale peaked in June and July and has since edged downward. Although time on market remains higher than it was a year ago, competitively priced homes continue to sell well.”
Ed Steinbeck, a broker associate at RE/MAX Parkside Real Estate in Paso Robles, said he’s more confident about the outlook in 2007. Activity, at least in his North County office, picked up in late December and January, he said.
“I think people are settling down,’’ he said. “This is a very normal market, and they’re thinking that if they need to buy or sell now, now is the time to do it. Of course, some are waiting for it to drop more and want to see what’s going to happen. They may or may not win.”
Source: The Tribune