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 May 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
$986,375
$608/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in San Luis Obispo have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in San Luis Obispo was $986,375 in May 2024, up 9.7% from last year, and the median price per square foot was $608.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $521K | $622.5K | +19.5% |
| 2 Bedrooms | $629K | $741.2K | +17.8% |
| 3 Bedrooms | $951.2K | $985K | +3.5% |
| 4 Bedrooms | $1.2M | $1.5M | +19.4% |
| 5+ Bedrooms | $1.6M | $1.5M | -8.4% |
Summary: San Luis Obispo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Cities
| San Luis Obispo | $899K | $986.3K | +9.7% |
| North Coast | $949.7K | $926.2K | -2.5% |
Housing Supply in San Luis Obispo, CA
How many homes are available in San Luis Obispo, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 152 | 131 | -13.8% |
Summary: The San Luis Obispo real estate market had 131 homes for sale in May 2024, a 13.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 41 | 35 | -14.6% |
| 3 Bedrooms | 63 | 52 | -17.5% |
| 4 Bedrooms | 28 | 27 | -3.6% |
| 5+ Bedrooms | 17 | 14 | -17.6% |
Summary: The San Luis Obispo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.6%, 3 bedroom homes decreased by 17.5%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 17.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 39 | -11.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Luis Obispo, you could pay more than the asking price. 35.9% of homes here sold above asking price last month.
Summary: A total of 39 homes were sold or pending in San Luis Obispo in May 2024, down by 11.4% month-over-month. Of the 39 sold homes, 31% were sold under asking, 33% were sold at asking, and 36% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 36 Days | +58.0% |
Summary: Homes in San Luis Obispo had an average of 36 days on market in May 2024, up by 58% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Luis Obispo are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 39 homes were sold in San Luis Obispo; 69% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 13% 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. 
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