In the fall, experts reported that nationwide the housing market was beginning to shift to a buyer’s market. We can certainly see those effects already on the Central Coast with many areas reporting a decrease in home sale prices year over year. If you’ve been thinking of selling, now may be the right time to get your home on the market! Give me a call at (805) 441-1276 to get started!
The data below is current as of January 31st, 2019.
San Luis Obispo County
In San Luis Obispo County, home prices were up 7.5% year over year to $629,000. Condos and townhomes however were only up 3.9% compared to December of last year. The median sales price for a condo or townhome in San Luis Obispo County is now $410,000.
Home prices for a single family home in Arroyo Grande are down slightly (2.8%) from last year at this time. The median sales price for a detached home in Arroyo Grande is now $727,200. But prices for a condo or townhome are up 5.5% to $380,000.
The price of a single-family home in Avila Beach has increased 4.2% over the last year, bringing the median sales price of a home to $1,146,240. Townhomes and condos in the area have also increased a total of 11.6% to $809,450.
The Cal-Poly area has seen a 20.4% increase in the price of single-family homes since December 2017. This brings the median price of a home to $1,020,000. Townhomes and condos have also seen prices increase 2.6% to $502,500.
City of San Luis Obispo
The city of San Luis Obispo has seen sale prices for single-family homes increase 9.3% year over year. This increase brings the median home sale price to $807,640. The median price of townhomes and condos in SLO has decreased 6.6% since December 2017, bringing the median cost down to $460,000.
The median price for a single family detached home in Grover Beach has increased by 8.1% since December 2017. This brings the current median home price to $573,500. The prices of townhomes and condos have also increased in Grover Beach. The current price is currently $369,000 - a 10.8% increase from the end of 2017.
Nipomo has seen the price of detached homes increase 4.2% since December of last year to $646,000. Townhomes and condos however, have seen a significant increase of 21.7% from December 2017. The median price of townhomes and condos in Nipomo is now $420,000.
Pismo Beach has seen a decrease of 6.3% in the price of single-family detached homes since December 2017. The median price is currently $899,000. Townhomes and condos however, have decreased 14.1% year over year to $580,000.
Want to know what your Central Coast home may currently be worth? Click here to request your free market report or contact me for a more in-depth analysis. And if you’re thinking of selling in 2019, I’d love to chat with you about what I can do to get your home sold quickly and for the best possible price!