Review of Home Sales & Prices in Cambria, CA

JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007

Among the coastal towns/cities in San Luis Obispo county, Cambria suffered the highest decline of 10% in the median home price in 2008 when compared to the same 12 months a year ago. The median home price for 2008 was $632,500. This is a drop of $67,500 from $700,000 in 2007.

Sales of stick-built single family residences in Cambria suffered a big decline of 18% @ 80 sales versus 97 sales in 2007. A review of the data from the Central Coast Multiple Listing System shows that the bulk comprising about 73% of the home sales are in the mid-level price range, from $500,000-$999,999. The next level of sales, ie. 15%, are in the lower price ranges which are under $500,000, with the remainder sales (13%) falling in the over-the-$1-million price range.

Unlike the other areas, the consolation is that the average marketing time is unchanged, @ 157 days.

Home sales and home prices are expected to decline in Cambria, at least till end of this year.

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 included.

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