No Comments

2017 2nd Quarter Central Coast Real Estate Report

The San Luis Obispo County’s Real Estate update includes data for all cities that make up the San Luis Obispo County of California. This data is for the second quarter, January through June, of 2017.

  • 1,500 Total Home Sales (2017) vs. 1,372 (2016)
  • $639,059 Median Home Price (2017) vs. $550,000 (2016)
  • 98% Sales per List Price (2017) vs. 98.13% (2016)
  • $474.96 Average Price per Square Foot (2017) vs. $350.00 (2016)
  • 75 Cumulative Days on the Market (2017) vs. 90(2016)

Of all the five reported components of the real estate report for San Luis Obispo County four of the five factors improvement from 2nd quarter of 2016 to 201. The only component tracked to worsen from the first two quarters of 2016 to 2017 was the sales vs. list price which decreased a small percentage of 0.13% from 2016.

The total number of sales at 1,500 total homes sold in the first two quarters of 2017 is the highest number of total overall sales at 1,500 total homes sold, more than doubling the first quarter’s count of 667 total homes sold and exceeding last year’s second quarter data by a little under 150 total homes sold.

The median home price increased from $550,000 in 2016 to $639,059 in 2017. Though there is a year on year increase the median home price of the San Luis Obispo County decreased from the first quarter from a median of $663,100 down to $639,059.

The sales vs. list price increased by 1% from the first quarter of 2017 to the second quarter of 2017from a level of 97% to 98%, however yearly basis from the second quarter of 2016 to 2017, the

sales vs. list price dropped 0.13%, which is fairly insignificant.

The price per a square foot increased as well from both the first quarter and this time last year in 2016.  From the first quarter of 2017 to the second quarter, price per square foot increased slightly from $462.00 to $474.96. The yearly comparison shows a more significant change increasing from more than $100 from $350.00 in 2016’s first two quarters to $474.96 in 2017 second quarter.

The cumulative days a home for sale sits on the market decreased by 28 days from the first three months of 2017 to the first six months of 2017. However, the cumulative days on market increased from the second quarter of 2016 to 2017 from a level of 71 cumulative days up four days to a cumulative of 75 cumulative days on market.

Avila Beach leads the way with the highest median home price of $1,020,000 increasing in median price from both the first quarter and this time last year.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com