Welcome back to another Central Coast Housing report! We are please to bring you relevant data, trends and insight for the real estate market here in SLO County. A big thank you to our vendors, support staff, and escrow companies who have delivered value to our clients. Also, thank you so much to our wonderful clients and friends who continue to put their trust in us and give us their referrals!
Let's begin with some basic themes:
- Increased Inventory
- Stable Prices
- Balanced Supply-Demand Market
The Central Coast housing market Continues to show healthy demand and supply in spite of higher interest rates and some tariff/economic uncertainty. We are seeing a more balanced market with demand and supply being about equal. There has been a much needed increase of active listings, which has been a welcome change for home shoppers who appreciate more options to choose from.
To watch the report below:
SALES STATS
We had $474,252,036 closed sales volume in the month of April, which is tracking close to April of 2024 which had $464 million of closed sales volume. This number was made up of 223 closed sales, which on the median sold in 16 days and sold for 98% of their original list price.
The median sales price for the County had a slight pull back from March, which was $925,000. Currently, the median sales price is $899,000 which has increased by 4.4% compared to April of 2024.
- Paso Robles City $664,667 - 0.5% YoY
- Templeton $1,487,500 +35% YoY
- Atascadero City $832,818 +1.3% YoY
- San Luis Obispo City $1,251,351 +15.3% YoY
- Los Osos $932,276 | -0.6% YoY
- Arroyo Grande $1,160,964 | +10.5% YoY
- Grover Beach $726,091 | -12.7% YoY
- Oceano $646,400 | +4.7%
- Nipomo $1,045,629 | -6.8%
- Santa Maria City $673,463 | +1.9%
INVENTORY UPDATE
Housing inventory has been steadily increasing in the last 3 months to around 750 for San Luis Obispo County. We saw 272 new listings for the month of April. This has been a welcome change vs previous years where we were averaging around 600 homes for sale.
Overall the demand has kept up with this increase in supply. We have seen quite a few out of town buyers and retirement buyers looking to move to the area due to its ideal weather, small town charm and relatively affordable prices vs the Bay Area or LA.
SELLER ADVICE
It is more important than ever to price your property for sale according to nearby comparable homes sold and market conditions. Homes priced well will sell, but properties that are overpriced stay on the market and often close at a lower value vs. properties initially priced attractively. Remember, even if your property is initially priced below market value, the market will correct you may even receive more due to increased buyer attention.
1. Maximize Curb Appeal
First impressions are still key. Tidy up landscaping, power-wash the exterior, and refresh paint on the front door or trim.
Consider a smart home feature upgrade (e.g., thermostat, lights, or security) to appeal to tech-savvy buyers.
3. Invest in Pre-Sale Prep
Declutter and Depersonalize: Let buyers imagine themselves living there.
Stage for Style: Professional staging or virtual staging can dramatically improve listing photos and showings.
Repairs Matter: Fix obvious issues—especially anything structural, plumbing, or electrical.
BUYER ADVICE
A common conversation we have with buyers is this: “We want to own a new home, but we want to wait until the interest rates are lower.”
While every buyer's timeline is personal, our advice is to consider the two options and the cost of waiting. Right now, sellers are more willing to offer credits or concessions to buyers due to the fact that the interest rates are higher and buyers are feeling the challenge of affordability. For example, we are closing on 3 buyer escrow this the first half of May and in all cases we were able to negotiate significant credits from the selling for closing costs, rate buy down, and repair credits. For one of our buyers, we were able to negotiate $25,000 off the asking price plus credits. Consider the alternative, when interest rates reduce and buyer competition increases. Sellers will be less likely to offer credits, concessions or price reductions. Buyers will face more competition from other buyers due to so many buyers leaving the sidelines and home shopping again. Prices will increase due to buyer’s access to better loan rates and an increase in competition.
NAR’s Pending Homes Sales Index rose 2% in February, suggesting that the mortgage rate thaw was enough to coax some prospective buyers off the sidelines. A pending home sale marks the point in the purchase transaction when the buyer and seller agree on price and terms and is considered a leading indicator of a closed existing home sale within the next one to two months. - FORBES.COM
MAKING A MOVE ON THE CENTRAL COAST?
We are still seeing strong demand for homes here on the Central Coast and we don’t think that will change anytime soon!
We have amazing weather, natural beauty, amazing beaches, an award-winning wine region, and a welcoming, friendly community of residents.
If you are considering a move in 2025 into a house or property that better fits your lifestyle and stage in life, reach out to our award-winning real estate team, we are here to partner with you and help guide you with all things real estate here on the Central Coast. Whether you are looking to buy your first home, buy your upgrade home, sell a ranch, buy an apartment building, or buy a farm, we have you covered.
We have a consultative, value-first approach tailored to your needs, goals, and timeframes
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Our Reviews: REVIEWS
"I highly recommend Joshua Farris for all your Real Estate needs. He's very detailed oriented. He's always available to answer any of your questions. The Listing, Sale & Close of Escrow went very smoothly with no hitches! On a scale from 1 -10...Joshua's a 10!" - George R. (Pismo Beach)
"Joshua is an exceedingly diligent, knowledgeable, and trustworthy realtor. He patiently listened to our needs, answered our questions and carefully tailored the process to make it as smooth as possible. We are very grateful for Joshua's guidance and expertise in finding us a home." - Clark G. (Arroyo Grande)
"Josh was amazing in helping me buy my first home. His connections in SLO helped us get our offer accepted in a competitive market. He also was patient with all the questions I had and guided me through every step of the process. I highly recommend Josh!" Alex D. (SLO)
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