The local market statistics are updated with last month’s sold data and now available on my site.
Outdoor amenities including guest homes, pools, barns, and shops, tend to increase the value of homes on the market. This month I took a look at how much the median home price increased, on average.
For all single family homes sold so far in San Luis Obispo county in 2017, the median home price was $559,000. There have been 1,852 single family home sales total.
Guest Houses - There were 73 homes sold with attached guest houses and the median sale price of these homes was $742,000, 32.7% higher than the county average. Only 17 homes have sold with detached guest houses but the median price was $975,000, a 74.4% difference.
Pools - The median home price for homes sold with pools so far in 2017 was $641,500, an increase of 14.7%. 93 homes sold had pools.
Barns - 61 homes sold in 2017 have had barns. These homes sold for a median home price of $700,000, 25.2% more than the county median of $559,000.
Shops - Homes with shops had an increase of 14%. They were the most common amenity, 122 homes sold with shops.
The increase in median home price for homes with these outdoor amenities doesn't mean that a home will automatically increase 20-70% in value with a single addition. The increased square footage of the home's lot to accommodate a guest house, for example, is just one of the other factors that will reflect in the median home price.
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