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May 2010 Home Sales – SLO County

  • We had 213 homes sell in SLO County in May.
  • The Median Home Price for all homes was $389,999
  • 33% of homes sold were distressed (REO/Short Sale)
  • 22% of homes sold were REOs
  • 11% of homes sold were Short Sales
  • The Median Home Price for non-distressed homes was $440,125
  • The Median Home Price for REOs was $307,250
  • The Median Home Price for Short Sales was $370,000
  • Banks and REO-Realtors continue to under-price REO homes to sell quick. The average Days on Market for REOs was 34 days vs. 98 for non-distressed homes. These REO homes then become the new price comparable for the neighborhood.

Price range breakdown for May 2010 homes sold:

Non-foreclosure Homes in SLO County – Median Home Price = $440,125
(DOM = Days on Market)

Selling Price Range Quantity Average DOM
$120,000 thru $139,999 1 207
$200,000 thru $249,999 7 69
$250,000 thru $299,999 15 92
$300,000 thru $349,999 24 114
$350,000 thru $399,999 19 73
$400,000 thru $449,999 9 126
$450,000 thru $499,999 13 54
$500,000 thru $549,999 13 82
$550,000 thru $599,999 10 75
$600,000 thru $649,999 10 164
$650,000 thru $699,999 8 131
$700,000 thru $749,999 5 82
$750,000 thru $799,999 2 71
$800,000 thru $849,999 1 70
$850,000 thru $899,999 3 128
$900,000 thru $949,999 2 42
$2,000,000 thru $2,249,999 1 204
$4,000,000 thru $4,249,999 1 249
144 98

REO Homes in SLO County – Median Home Price = $307,250

Selling Price Range Quantity Average DOM
$60,000 thru $69,999 1 14
$120,000 thru $139,999 1 115
$180,000 thru $199,999 1 57
$200,000 thru $249,999 7 23
$250,000 thru $299,999 12 38
$300,000 thru $349,999 5 12
$350,000 thru $399,999 6 49
$400,000 thru $449,999 4 11
$450,000 thru $499,999 4 31
$550,000 thru $599,999 2 32
$600,000 thru $649,999 1 134
$700,000 thru $749,999 1 26
$750,000 thru $799,999 1 15
46 34

Short Sales – Median Home Price = $370,000

Selling Price Range Quantity Average DOM
$100,000 thru $119,999 1 38
$160,000 thru $179,999 1 113
$250,000 thru $299,999 4 184
$300,000 thru $349,999 4 81
$350,000 thru $399,999 3 168
$400,000 thru $449,999 3 185
$450,000 thru $499,999 2 429
$500,000 thru $549,999 2 98
$550,000 thru $599,999 1 194
$600,000 thru $649,999 1 200
$900,000 thru $949,999 1 176
23 169
Written by Keith Byrd - Go to Keith's Website/Profile