Is Morro Bay, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Morro Bay has remained a Seller's Market.
Housing Prices in Morro Bay, CA
How much do homes in Morro Bay, CA cost?
Median Sold Price
$933,500
$672/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morro Bay was $933,500 in April 2024, up 1.5% from last year, and the median price per square foot was $672.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $515K | $542.5K | +5.3% |
2 Bedrooms | $782K | $799K | +2.2% |
3 Bedrooms | $1.0M | $1.0M | -3.8% |
4 Bedrooms | $1.3M | $1.2M | -8.6% |
5+ Bedrooms | $1.5M | $1.8M | +13.9% |
Summary: Morro Bay housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 2.2%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Cities
Cayucos | $1.2M | $1.4M | +12.8% |
Morro Bay | $920K | $933.5K | +1.5% |
Los Osos | $861K | $850K | -1.3% |
North Coast | $955.6K | $926.5K | -3.0% |
Housing Supply in Morro Bay, CA
How many homes are available in Morro Bay, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 40 | +25.0% |
Summary: The Morro Bay real estate market had 40 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 8 | 11 | +37.5% |
3 Bedrooms | 16 | 21 | +31.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Morro Bay housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 31.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Morro Bay in April 2024, up by 12.5% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Morro Bay, CA
How long does it take to sell a home in Morro Bay, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
53 Days | 20 Days | -62.1% |
Summary: Homes in Morro Bay had an average of 20 days on market in Apr 2024, down by 62.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Morro Bay; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.