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A closer look at the 3 cities with decreasing median home prices

Only three cities in San Luis Obispo county have seen a decrease in median home price since 2013. Those cities are Avila Beach, Nipomo, and Templeton.
Avila Beach has had no foreclosures or short sales in 2014. The median home price has decreased from $889,000 in 2013 to $810,000 in 2014.
The total number of sales in the first 6 months of 2014 was 9, 2013 only had 6 sales in the same time period. Stick Built homes in Avila Beach are selling in fewer days than in 2013. The average days on market in 2013 was 115, and that has dropped to only 71 days in 2014.

Avila Beach Median Home Price

Nipomo’s decrease in median home price is very minor at .6%. When comparing the median home prices during only the first 6 months, not the entire 2013 year in Nipomo, the median home price of non-foreclosures has actually increased from $490,000 to $497,000. That might indicate that the next few months will see Nipomo’s median home price increase!

Nipomo Median Home Price

Templeton’s decrease in median home price is also very small, at 1.6%. There have been more sold more homes in the first 6 months of 2014 than in the first 6 months of 2013. Of the 54 Stick Built homes sold so far this year, only 2 have been foreclosures, and only 1 was a short sale.

Templeton Median Home Price
Written by Keith Byrd - Go to Keith's Website/Profile