Central Coast home prices shot up last month according to the latest report released by the number crunchers at San Diego-based DataQuick.
The San Luis Obispo County real estate market saw a strong year-over-year January with an increase in both the number of homes sold and the overall median sales price. A total of 261 properties were sold countywide during the first month of 2014, up 19.7 percent from the previous year. The median price of those homes also rose to $400,000, up 5.5 percent.
Both Santa Barbara and Monterey Counties had a dip in their January sales when compared to 2013, but slower sales didn't appear to hurt prices. Homes in Santa Barbara County sold for a median average of $415,000, up 21.2 percent from last year. Monterey County saw a 12.8 percent spike to $360,500.
California's statewide median price hit $353,000, up 21.7 percent from 2013. The state's pre-recession median peaked at $484,000 back in spring 2007. The state's median sales price bottomed out in April 2009 at $221,000.
The January DataQuick report for California shows indications of an improving real estate market overall with dropping foreclosure activity and stable down payment sizes.