According to SanLuisObispo.com, the ongoing recession remains in San Luis Obispo County with home sales, and the median price of homes dropping in December.

The median price of homes fell from $400,000 to $390,000, for a 2.5 percent drop.  Home sales dropped 15.6 percent year over year as well in December from 32 homes sold in December 2008, and only 27 homes sold in December 2009.

The market segment that fared the worst in December however was resale condo’s, with almost a 35 percent drop year over year. In December 2008 there were 26 condos sold in the county versus 17 sold in December 2009.  During the same time period the median price of condos dropped 10.3 percent to $232,500.

Despite the apparent grim nature of this news, there is silver lining. With this most recent drop in prices, homes have become just that more affordable in our beautiful county. If there was ever a time to look for a home, now would be the time!

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