CAMBRIA REVIEW OF SINGLE-FAMILY RESIDENTIAL SALES: 1^ST QUARTER 2007 VS. 2006

2006	23	$5,000,000.00	$510,000.00	$890,000.00	132	$1,254,913.00	95.70%
2007	31	$1,300,000.00	$400,000.00	$637,000.00	143	$696,258.00	96.68%
	8	($3,700,000.00)	($110,000.00)	($253,000.00)	11	($558,655.00)	0.98%
+/-	35%			-28.43%	8%	-44.52%

SUMMARY

Like the other North coastal towns in San Luis Obispo county, the above review of the home sales in Cambria for the first quarter this year shows a similar situation - a decline in median sale prices. For the first quarter 2007, Cambria suffered an almost 28.5% decrease, with the median home price dropping to $637,000 from $890,000 when compared to the same period last year. Sales however, improved by 35% to 31 homes sold this first quarter.

Similarly, the time taken to sell a single-family residence also increased. For the first quarter this year, an additional 11 days were needed to sell a single-family residence. The current average marketing time is about 5-6 months.

So, what's selling in Cambria? As of April 17, 2007, 13 properties are pending sale. The highest number - eight of the homes pending sale is in the $750,000-850,000 range. This contrasts sharply with what's selling in Morro Bay and Los Osos, where more properties in the $400,000-600,000. Only 3 properties priced between $450,000-500,000 are pending sale in Cambria. The other two are priced over $1M.

What's interesting is the higher-end properties are not selling as quickly. Like Cayucos and Morro Bay, a high percentage of these properties is priced over $1M. In Cambria, 92 properties, including two mobile homes are listed for sale. 37 properties or 40% of these are in the $1,000,000-plus price range. Another review will made at the end of second quarter 2007.