Home Sales In Cayucos Holding Status-Quo
REVIEW OF HOME SALES & MEDIAN HOME PRICES |
ON STICK-BUILT SINGLE-FAMILY HOMES IN NORTH COAST-SLO COUNTY |
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JANUARY-JUNE 2008 VS. JANUARY-JUNE 2007 |
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CAYUCOS |
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| SALES | AVG.DOM | HIGH | LOW | MEDIAN | |
2007 | 11 | 132 | $882,500.00 | $615,000.00 | $752,818.00 | |
2008 | 11 | 110 | $925,000.00 | $420,000.00 | $725,000.00 | |
2008/2007 | 0 | -22 | $42,500.00 | ($195,000.00) | ($27,818.00) | |
% DIFF. | 0% | 17% | | | -4% | |
Sales of stick-built single-family homes in Cayucos did not suffer during the first half of 2008 when compared with the same period a year ago. In both periods, the same number of properties, i.e. 11 sold.
Interestingly, the marketing time decreased by 17% to 110 days during the first six months of 2008 versus 132 days a year ago.
Sale prices widened from $420,000 to $925,000 during January-June 2008 versus a narrow price range of $615,000-$882,500.
During the same period, the median home price fell by 4% from $752,818 to $725,000. At $725,000, Cayucos still has the highest median price in North Coast-San Luis Obispo County, which includes San Simeon, Cambria, Morro Bay, Los Osos and Baywood Park.
While not considered absolute, the figures are indicative of sale prices inching slightly downwards versus huge drops in the coming months.
The data is compiled from the Central Coast Multiple Listing Service (MLS), and deemed accurate though not guaranteed. "AVG.DOM" means "Average Days on Market", or number of days that the property was on the market. Only stick-built single-family residences priced under $1M are included in this analysis. Those priced over $1M are excluded. Condos, PUDs and mobile homes are also not included in this study.