Amazing numbers, and amazingly mind-numbing comments from the local realtors
All is well... All is well. Remain calm... Remain calm..
Not sure about you, but when I hear that, I run for the nearest life boat
The median home price for a single-family house in San Luis Obispo County fell nearly 12 percent in December, or more than $70,000, but local real estate professionals warn that it is too early to determine if the market is headed downward.
The $534,930 median home price -- the statistical point where half of the homes sell for more and half for less -- declined 11.6 percent from the November price of about $605,160, according to the California Association of Realtors.
Nonetheless, it still represents a 12.5 percent increase from December 2004 when the median-priced home sold for nearly $475,610. The December 2005 figure was the lowest monthly median price registered since May 2005.
In another measure of the local housing market, permits for new homes were down 14.4 percent in 2005 for the county, with 1,937 permits. The steepest decline in the county was for the city of San Luis Obispo, which saw permit activity fall 69.6 percent to 35 from 115 permits in 2004.
January 27, 2006
The median home price for a single-family house in San Luis Obispo County fell nearly 12 percent in December, or more than $70,000
Posted by blogger at 1/27/2006