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San Luis Obispo, CA Housing Market
In August 2024, home prices in San Luis Obispo rose by 37.8% compared to the previous year, with the median price reaching $1.1 million. On average, homes spent 34 days on the market, up from 26 days last year. A total of 36 homes were sold in August, an increase from 25 during the same period in the previous year.
San Luis Obispo remains somewhat competitive, with homes typically selling in an average of 31.5 days. While some properties attract multiple offers, most homes sell for around 1% below the list price and go pending within 32 days. However, in the case of "hot homes," the market moves faster—these properties can sell for about 2% above asking price and go pending in just 10 days. This balance of competition and price flexibility creates opportunities for both buyers and sellers in the area.
Many people moving to San Luis Obispo are coming from other major California metros. Nationwide, about 0.40% of homebuyers searched for homes in San Luis Obispo from outside their own metro areas. Los Angeles tops the list of cities where the most homebuyers are looking to relocate from, followed by San Francisco and Santa Barbara. This trend highlights San Luis Obispo's growing appeal as a destination for those seeking a more relaxed lifestyle while still staying connected to California's larger metropolitan hubs.
For detailed, up-to-date information on buying/selling a house in San Luis Obispo, including legal considerations and market trends, you can talk to us.
Whether you’re ready to find your dream home or just have questions about living in San Luis Obispo, we’re here to help. From the perfect beach getaway to a home nestled in the rolling hills, our team can guide you through every step. Reach out today to get more information, schedule a showing, or receive personalized advice. Let’s make your move to San Luis Obispo a reality!
Get to know the best neighborhoods in San Luis Obispo with our detailed guide! Whether you're drawn to the vibrant downtown area, serene coastal spots, or the family-friendly suburbs, our San Luis Obispo Neighborhood Guide offers insights to help you find the perfect community for your lifestyle. Start exploring now and discover what makes each neighborhood unique!
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