The San Luis Obispo County real estate market in December 2024 exhibited varied dynamics across its cities, offering unique opportunities for discerning buyers and sellers.
Market Trends:
- Home Sales and Pricing: Overall closed sales increased slightly by 0.5% month-over-month but showed a stronger year-over-year growth of 19.6%. The average sale price rose 7.1% year-over-year to $1,097,265, reflecting sustained demand for upscale properties in key areas.
- Inventory Levels: Active listings decreased by 14.7% month-over-month, indicating tightening inventory, while the year-over-year figure saw a 26.3% increase. This dual trend suggests a selective yet competitive market, particularly for high-end homes.
- Buyer Behavior: Properties are selling closer to their list prices, with a countywide average sale-to-list ratio of 93.04%, underscoring strong market confidence. Notably, cities like Arroyo Grande and Nipomo are achieving near or above 99% of their list prices.
Luxury Highlights:
- Cambria and Templeton: Cambria saw a remarkable 120.5% month-over-month increase in average sale price, reaching $2.34 million, while Templeton achieved an 84.9% gain, reflecting strong interest in premium properties.
- Pismo Beach and Avila Beach: Coastal luxury markets softened slightly in average pricing, offering potential value opportunities for buyers seeking prime locations.
- Emerging Areas: Nipomo and Paso Robles are seeing steady demand, with notable year-over-year growth in closed sales and consistent pricing trends.
Looking Ahead: As inventory tightens and buyer interest remains high, strategic positioning is key. For sellers, pricing competitively to align with market momentum can maximize returns. Buyers will find opportunities in emerging neighborhoods and among high-end properties in transitioning markets.
This dynamic environment offers an excellent time to make strategic real estate decisions. Whether you're investing in a primary residence, a vacation home, or expanding your portfolio, the San Luis Obispo County market remains robust and promising.
view complete market stats for december 2024
view complete market stats for q4 2024
