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 March 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
$985,812
$600/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in San Luis Obispo was $985,812 in March 2024, up 9% from last year, and the median price per square foot was $600.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $612.1K | $637K | +4.1% |
2 Bedrooms | $630K | $743.5K | +18.0% |
3 Bedrooms | $975K | $985K | +1.0% |
4 Bedrooms | $1.2M | $1.5M | +22.4% |
5+ Bedrooms | $1.5M | $1.5M | +3.8% |
Summary: San Luis Obispo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
San Luis Obispo | $904.1K | $985.8K | +9.0% |
North Coast | $950.9K | $926K | -2.6% |
Housing Supply in San Luis Obispo, CA
How many homes are available in San Luis Obispo, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
122 | 123 | +0.8% |
Summary: The San Luis Obispo real estate market had 123 homes for sale in March 2024, a 0.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 34 | 30 | -11.8% |
3 Bedrooms | 51 | 57 | +11.8% |
4 Bedrooms | 26 | 23 | -11.5% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The San Luis Obispo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 26 | -29.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in San Luis Obispo in March 2024, down by 29.7% month-over-month. Of the 26 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 20 Days | -41.9% |
Summary: Homes in San Luis Obispo had an average of 20 days on market in Mar 2024, down by 41.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 26 homes were sold in San Luis Obispo; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.