Is San Luis Obispo, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing San Luis Obispo is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, San Luis Obispo has remained a Seller's Market.

Key Takeaway

San Luis Obispo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$59,500(+6.6%)

Key Takeaway

Homes in San Luis Obispo have sold for 6.6% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $612.1K$625K
+2.1%
2 $630K$731K
+16.0%
3 $988.5K$977K
-1.2%
4 $1.2M$1.5M
+22.4%
5+ $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
+6.6%
North Coast
-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 2024Feb 2024CHANGE
115107-7.0%

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

# BEDSJan 2024Feb 2024CHANGE
1 42
-50.0%
2 3431
-8.8%
3 4644
-4.3%
4 2223
+4.5%
5+ 97
-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 2024Feb 2024CHANGE
3137+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in San Luis Obispo, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
34 Days29 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in San Luis Obispo are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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