Wow, I thought CalCoastNews was pretty bad in their reporting of our local real estate market statistics until I read the Tribune today.
“The median home price drops to $349,500 but number of homes sold countywide last month is up 127 percent over April”
What the Tribune did was mix statistics. The $349,500 is DataQuick’s median home price for all homes but the 127 percent increase in sales was for New homes.
The accurate byline should read-
“The median home price drops to $349,500 but number of homes sold countywide last month is up 5.6 percent over April”
Note to local media: Don’t focus on New Home sales which counts for 5-10% of overall sales in SLO County but instead focus on the 90-95% of the market. The headlines won’t be as sensational but your articles won’t be giving your readers misleading information.
There is some good news in this sloppy reporting. If you hear a Realtor talking about countywide home sales increasing 127%, run away from them as fast as you can as you’ve picked the wrong Realtor.