I calculated the median home prices for the third quarter (July 1 – September 30) and added them to the SloWatch site – (click here for the median home price page).
The last quarter’s median home prices in some cities went up, in other cities it went down. Just like any other median home price comparsion you need to look at details of particular city to understand the number (quantity of solds, how many higher-end homes). I also updated the City sold pages which are available about midway down the SloWatch Home Page under the “City Stats” heading. The city sold reports break down the sales into price categories.
The cities that went up were: Arroyo Grande, Atascadero, Cambria, Paso Robles, and Pismo Beach.
The cities with a lower median home price were: Cayucos (small decrease), Grover Beach (big drop), Los Osos (small decrease), Morro Bay (big drop, but last quarter it jumped way up), Nipomo (big drop), Oceano (small decrease), San Luis Obispo (medium drop, almost 10%), and Santa Maria.
I also track median condo prices for San Luis Obispo and Santa Maria. SLO’s median condo price went up slightly and Santa Maria condos dropped a sizeable percentage.
I plan to do some more reports in the next few days that look at the impact of foreclosures.