From the Sierra to the Coast, our real estate market is on the mend with new home permits much stronger than a year ago and the value of existing homes for re-sale higher as well.
According to Construction Monitor, San Luis Obispo County reported permits for 98 new single family homes for the first two months of 2013 compared to just 50 for the same period in 2012.
Comparing the first two months of 2013 in the Central Valley town Visalia – the city reports home building permits jumped 125% over 2012 with building permits for new single family dwellings at 45 permits issued compared to 20 in 2012. Total valuation was up 107%, again due to the home building bump, to $19,772,606 for the first two months of 2013.
On a broader scale for the Central Valley counties of Madera,Fresno,Kings and Tulare combined – the region reported 328 new single family home permits for Jan /Feb 2013 compared to 243 for the same period in 2012. In Kern County sfh permits jumped from 156 to 246 in Jan/Feb 2012.
In the larger existing home market the median sales price year over year in January 2013 jumped 10.9% in Tulare County,15% in Fresno County,19.5% in Monterey and 11.7% in Santa Barbara County.SLO County numbers for January 2013 were not available through Dataquick.
Sales of new homes according to Dataquick were up double digits in most Central California counties as well. Sales in Kings County jumped from 4 to 25 year over year in January.