Is San Luis Obispo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, San Luis Obispo has remained a Seller's Market.
Housing Prices in San Luis Obispo, CA
How much do homes in San Luis Obispo, CA cost?
Median Sold Price
$959,500
$596/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in San Luis Obispo was $959,500 in February 2024, up 6.6% from last year, and the median price per square foot was $596.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $612.1K | $625K | +2.1% |
2 Bedrooms | $630K | $731K | +16.0% |
3 Bedrooms | $988.5K | $977K | -1.2% |
4 Bedrooms | $1.2M | $1.5M | +22.4% |
5+ Bedrooms | $1.5M | $1.6M | +7.9% |
Summary: San Luis Obispo housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 16%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
San Luis Obispo | $900K | $959.5K | +6.6% |
North Coast | $963.5K | $949.8K | -1.4% |
Housing Supply in San Luis Obispo, CA
How many homes are available in San Luis Obispo, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
115 | 107 | -7.0% |
Summary: The San Luis Obispo real estate market had 107 homes for sale in February 2024, a 7.0% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 34 | 31 | -8.8% |
3 Bedrooms | 46 | 44 | -4.3% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The San Luis Obispo housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
31 | 37 | +19.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in San Luis Obispo in February 2024, up by 19.4% month-over-month. Of the 37 sold homes, 41% were sold under asking, 24% were sold at asking, and 35% were sold over asking.
Days on Market for San Luis Obispo, CA
How long does it take to sell a home in San Luis Obispo, CA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
34 Days | 29 Days | -13.0% |
Summary: Homes in San Luis Obispo had an average of 29 days on market in Feb 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 37 homes were sold in San Luis Obispo; 68% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.