The California Association of Realtors is reporting that San Luis Obispo county home sales are down, but prices keep going up. Statewide, home sales are down 36% from one year ago.
On the central coast, sales declined by 43% in April, compared to one year ago. That’s one of the worst drops of any region in the state. The worst is Mariposa county, which dropped 80% over one year ago. Santa Cruz county dropped 58%.
As for prices, San Francisco bay area saw a drop in median home prices of 16%. Six out of nine counties in the bay area fell more than 10% from one year ago.
On the central coast, San Luis Obispo county home sales dropped worse than other areas.
Sales in the county dropped 45% from one year ago, but prices in the county increased slightly. One reason is that people who can afford to pay cash for a high priced home are not impacted by the increase in interest rates.
In Atascadero, the median home price increased in April to $809 thousand dollars. That’s up slightly from last year. Inventory grew 20% from one year ago, but home sales dropped 35%.
Paso Robles saw a 10% increase in inventory, but a 16% drop in price to a median price of $666 thousand in April. Sales dropped 58% over last April.
