June Local Market Update

Hi there, Central Coast friends! Amber Johnson here with Pillar Real Estate, bringing you the latest real estate market update for San Luis Obispo County. June is here, and we've got a lot of exciting things happening both in the market and around our vibrant community. So, let's dive right in! Starting with our market stats for May 2024, the median price point for homes in the county was $803,500. The average price per square foot came in at $530. We saw a total of 228 home sales last month, with homes still moving quickly— the median days on market was just 12 days! Overall, the market over the last few weeks has been somewhat flat and stable. Homes priced below the median price point, especially if turnkey, are still selling very quickly, in some cases, over list price with multiple offers. I am seeing homes on the higher end of price spectrum sit longer than what we have been seeing recent past, which is prompting more price reductions for the luxury market. All in all, still a strong market given the pent up demand for homes in our beautiful county. Alright, schools out and it's time for some fun! There are lots of exciting upcoming events like the SLO Film Festival, most of our city concerts in the park series have started, and it's the perfect time to enjoy the amazing outdoor landscapes we have right here in our backyard. Give us a follow and subscribe to our weekly newsletter to keep track of all the local happenings and the local real real estate market. Thanks for tuning in, bye for now!