real estate

Randol White, KCBX News

Home prices are on the rise along the Central Coast according to the latest numbers reflecting the local real estate market. 

Flickr member Diana Parkhouse

San Luis Obispo County's housing market is among the hottest in the nation according to a new list published by Realtor.com and highlighted through ConsumerAffairs.

The rankings are based on home demand and speed of sale in the county's largest 200 markets. San Luis Obispo County landed at No. 13 behind Santa Cruz (No. 12) and just in front of Ventura County (No. 14).

Santa Barbara, San Luis Obispo, and Monterey Counties all saw the median price for homes jump significantly in the latest year-over-year sales figures.

San Diego-based DataQuick says Santa Barbara and San Luis Obispo Counties had gains of more than eight percent, while Monterey County jumped nearly 12 percent for July.

The year-over-year number of homes sold is down in all three counties with Santa Barbara County seeing the largest drop.

Flickr member Kyle Harmon

Michael Jackson's former Neverland Ranch could soon be listed on the local real estate market. A representative for the investment firm that currently owns the property tells KCBX that putting the ranch up for sale is now under consideration.

The nearly 2700 acre parcel just outside of Los Olivos in Santa Barbara County was acquired by Colony Capital LLC back in 2008, about a year before Jackson's death.  

Last year San Luis Obispo County placed number one in the state of California for real estate fraud and number four nationally. This unusually high rate of real estate scamming points to a serious need for education to protect individuals from falling victim to these crimes. Learning how to prevent, avoid, and report potential real estate fraud activity may help to ensure that you do not become the next victim.

DataQuick

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.