The luxury real estate market in San Luis Obispo County continued to shift in February 2025, with notable month-over-month and year-over-year trends. While closed sales increased from January, average sale prices saw slight adjustments, and inventory levels expanded. Below is a detailed breakdown of market performance across key metrics.
Market Overview
- Closed Sales: 190 homes sold in February, a 32.9% increase from January’s 143 sales. Year-over-year, closed sales remained relatively stable, rising 2.2% from 186 sales in February 2024.
- Average Sale Price: The countywide average sale price was $1,036,369, a 1.9% decrease from January’s $1,056,596. However, prices rose 4.2% year-over-year from $994,874 in February 2024.
- Active Listings: Inventory grew to 509 active listings, up 8.3% from January and 41.4% year-over-year, providing more options for buyers.
- Pending Sales: 197 homes went under contract, a 10% decrease from January, but still showing an active market. Year-over-year, pending sales declined 8.4% from February 2024.
Luxury Market Highlights
- Arroyo Grande: Prices dropped 14.4% month-over-month to $1,330,188, but remained 9.9% higher year-over-year from $1,209,835 in February 2024.
- Pismo Beach: The average sale price declined 10.1% from January, settling at $1,477,536. Year-over-year, prices dipped 3.9% from $1,536,958.
- San Luis Obispo: Prices fell 6.4% from January, with an average sale price of $1,248,283. However, year-over-year, prices increased 20.1% from $1,039,380 in February 2024.
- Cayucos: The luxury market saw significant appreciation, with prices surging 78.7% month-over-month to $1,800,000 and increasing 17.7% year-over-year from $1,529,500.
- Templeton: Prices rose 6.1% from January, reaching $1,565,000, and saw a 37.2% year-over-year increase from $1,140,863 in February 2024.
Key Takeaways
- Luxury home prices remained strong year-over-year, despite some month-over-month adjustments.
- Sales activity increased significantly from January, suggesting renewed buyer confidence.
- Inventory expanded, providing more opportunities for buyers while maintaining a competitive landscape.
What This Means for You
For luxury home sellers, rising year-over-year prices and increased sales activity indicate a favorable market for those considering listing their property.
For buyers, expanding inventory means more choices, though competition remains in high-value markets.
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VIEW COMPLETE MARKET STATE FOR FEBRUARY 2025
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