Is Central Coast, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Central Coast has remained a Seller's Market.
Key Takeaway
Central Coast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central Coast, CA
How much do homes in Central Coast, CA cost?
Median Sold Price
$1,880,436
$987/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Central Coast have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in Central Coast was $1,880,436 in May 2024, up 16.8% from last year, and the median price per square foot was $987.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $587.5K | $688K | +17.1% |
| 2 Bedrooms | $981K | $1.0M | +9.6% |
| 3 Bedrooms | $1.4M | $1.6M | +17.9% |
| 4 Bedrooms | $2.3M | $2.8M | +25.1% |
| 5+ Bedrooms | $3.8M | $4.5M | +15.8% |
Summary: Central Coast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Central Coast | $1.6M | $1.8M | +16.8% |
| Irvine | $1.2M | $1.4M | +14.2% |
| Newport Beach | $3.0M | $3.4M | +13.9% |
| Costa Mesa | $1.1M | $1.3M | +12.5% |
| Corona Del Mar | $3.5M | $3.7M | +5.6% |
Housing Supply in Central Coast, CA
How many homes are available in Central Coast, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 711 | 749 | +5.3% |
Summary: The Central Coast real estate market had 749 homes for sale in May 2024, a 5.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 24 | +4.3% |
| 2 Bedrooms | 112 | 123 | +9.8% |
| 3 Bedrooms | 238 | 247 | +3.8% |
| 4 Bedrooms | 185 | 185 | 0.0% |
| 5+ Bedrooms | 153 | 170 | +11.1% |
Summary: The Central Coast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 170 | 181 | +6.5% |
Asking Price vs. Sold Price
78 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Coast, you may be able to get a good deal. 43.1% of homes here sold below asking price last month.
Summary: A total of 181 homes were sold or pending in Central Coast in May 2024, up by 6.5% month-over-month. Of the 181 sold homes, 43% were sold under asking, 20% were sold at asking, and 37% were sold over asking.
Days on Market for Central Coast, CA
How long does it take to sell a home in Central Coast, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 19 Days | -48.5% |
Summary: Homes in Central Coast had an average of 19 days on market in May 2024, down by 48.5% compared to last year.
Breakdown of Home Sale Times
151 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Coast are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 181 homes were sold in Central Coast; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.