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Sales fell in San Luis Obispo County and Rose in Santa Barbara County
Arroyo Grande, CA – September 20, 2015— Home sales and prices in California’s Central Coast Region settled down in August following record growth earlier in the season. Sales and prices were stronger in Santa Barbara County than in San Luis Obispo County, where sales in July set a five-year record.
Both home sales and prices ended the summer significantly higher than they were a year ago. Closed sales in the two-county Central Coast Region ended the summer 7.2 percent above last year and total dollar sold volume, at more than $290,495, 887urpassed 2015 by 18.4 percent. The region’s median price reached $448,000 in August, 2.5 percent off July’s record price level, but was 10.6 percent higher than in August 2015. Homes took slightly longer to sell in the region, settling in a median of 80 days in August compared to 78 days in June.
“Home sales and prices in the Central Coast are consolidating the gains achieved earlier in the year. As the market settles down, sellers can list with increased confidence that they will be able to realize significant gains above a year ago. Stable inventories are moderating price increases and creating better market conditions for buyers,” said Amy Gallagher, corporate broker of record for CENTURY 21 Hometown Realty.
August Home Sales, San Luis Obispo (blue) and Santa Barbara (red) Counties
San Luis Obispo County
August home sales in San Luis Obispo County fell 6.7 percent from July and ended the month only 1.4 percent above sales a year ago. The county’s median sold price also fell 5.9 percent during the month, ending at $496,500, which is 5.1 percent above the median price in August 2015. Homes are selling in a median of 78 days, the same time on market as July.
Sales fell 22.5 percent in the city of San Luis Obispo during the August, ending the month even with levels of a year ago. The median sold price fell to $535,000, a drop of 7.8 percent from July but 2.9 percent above the median for August 2015.
Local market data and listings for San Luis Obispo County communities are available at Arroyo Grande, Atascadero, Avila Beach, Cambria, Cayucos, Creston, Grover Beach, Los Osos, Morro Bay, Oceano, Paso de Robles, Pismo Beach, San Luis Obispo, Santa Margarita, San Miguel, San Simeon, Santa Ynez, Shandon, and Templeton.
August Home Prices, San Luis Obispo (blue) and Santa Barbara (red) Counties
Santa Barbara County
In August, sales in Santa Barbara County rose 7.4 percent from July and ended August 19.4 percent higher than they a year ago. The median sold price reached $367,000, just $1,000 below the five-year record set in May. Prices were 2.8 percent higher than July and 20 percent higher than August 2015. Homes sold 15.3 percent slower in August, taking a median of 83 days to settle. Strong demand depleted listings as homes for sale fell 13.2 percent from last year.
Santa Maria saw sales rise 9.5 percent in August and 56 percent above a year ago, for the best sales month since August 2012. Median sold price reached $349,000, slightly less than last month but 13.9 percent over 2015. Homes sold in 80 days.
Local market data and listings for Santa Barbara County communities are available at Ballard, Guadalupe, Lompoc, Los Alamos, Los Olivos, and Solvang.
About Century 21 Hometown Realty
CENTURY 21 Hometown Realty is the leading real estate firm on the central coast. Since 1947, it has supported the needs of home buyers and home sellers throughout California’s Central Coast region with 19 branch locations in San Luis Obispo, Santa Barbara, and Ventura Counties. Our offices cover the California Coast from Paso Robles in the north to Camarillo to the south.
We offer specialty services including Luxury Real Estate, Agricultural and Ranch Real Estate, Vineyards, Ocean Front Real Estate, Commercial Real Estate, and Residential Real Estate. Our agents have a keen focus on these areas and multilingual and generational expertise. Visit our website at C21Home.com to see our California listings and our office locations.