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Real Estate & Market Conditions in San Luis Obispo County.

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Review of Home Sales & Prices in Los Osos, CA
JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007

LOS OSOS     
 SALESAVG.DOMHIGHLOWMEDIAN
2007124125$2,100,000.00$225,000.00$471,000.00
2008103129$1,750,000.00$110,500.00$435,000.00
2008/2007-214($350,000.00)($114,500.00)($36,000.00)
% DIFF.-17%3%  -8%

 

For January-December 2008, Los Osos saw a drop of 17% in sales of stick-built single-family homes when compared to the same period in 2007.  The number of stick-built single-family homes sold fell from 124 in 2007 to 103 in 2008. 

At the same time, sellers took more time - an additional four days based on an average marketing time of 129 days to sell their properties in 2008 compared to a year ago.

The median home price decreased by 8% from $471,000 in 2007 to $435,000 in 2008.  The decrease is not surprising as we saw fewer sales of higher priced properties.

Out of the 103 stick-built single-family homes sold in 2008, almost 64% or 66 out of 103 homes are under $500,000. Only five of these sales were priced over $1 million. 

The data obtained from the Central Coast Multiple Listing System reflects more sales in the lower price ranges due to short sales and foreclosures in this small coastal town.

Notes:

 1.  AVG. DOM = Average Days on Market

2.  Data compiled from Central Coast MLS, deemed correct but not guaranteed.

3.  Only stick-built single-family residences are included.

4..  Condos, PUDs, and mobile homes are not included in this study.

Posted: Monday, April 13, 2009 11:07 PM by Sherry Peckhoon Sim

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