$10,000 Closing Credit*
$979,000
1,372 SqFt
3 Beds
•2 Full Baths
Ignacio Villanueva, Listing Office: Keller Williams Tulare County
Is Morro Bay, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Morro Bay has remained a Neutral Market.
Key Takeaway
Morro Bay is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Morro Bay, CA
How much do homes in Morro Bay, CA cost?
Median Sold Price
$939,500
$674/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,720(+3.0%)
Key Takeaway
Homes in Morro Bay have sold for 3% more than they did a year ago.
Summary: The median home sold price in Morro Bay was $939,500 in November 2024, up 3% from last year, and the median price per square foot was $674.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $507.5K | $580K | +14.3% |
| 2 Bedrooms | $804.5K | $748K | -7.0% |
| 3 Bedrooms | $1.0M | $990K | -5.7% |
| 4 Bedrooms | $1.0M | $1.5M | +48.4% |
| 5+ Bedrooms | $1.6M | $2.4M | +43.9% |
Summary: Morro Bay housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 7%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 48.4%, and 5+ bedroom homes increased by 43.9%.
Median Sold Price Compared To Nearby Cities
| Morro Bay | $911.7K | $939.5K | +3.0% |
| North Coast | $929.5K | $944K | +1.6% |
| Los Osos | $857K | $870K | +1.5% |
| Cayucos | $1.4M | $1.3M | -3.4% |
Housing Supply in Morro Bay, CA
How many homes are available in Morro Bay, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 48 | -15.8% |
Summary: The Morro Bay real estate market had 48 homes for sale in November 2024, a 15.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 17 | 13 | -23.5% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Morro Bay housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.5%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morro Bay, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Morro Bay in November 2024, down by 50.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Morro Bay, CA
How long does it take to sell a home in Morro Bay, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 76 Days | 54 Days | -29.4% |
Summary: Homes in Morro Bay had an average of 54 days on market in Nov 2024, down by 29.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morro Bay has remained consistent over time.
Summary: During November 2024, 7 homes were sold in Morro Bay; 14% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 14% 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.