What homes cost in Morro Bay
The median single-family home sold for $950,000, or $645 per square foot. The middle half of single-family sales landed between $800,000 and $1.27 million. The median home was 1,524 square feet on a 4,000 square foot lot and was built in 1975. One in three single-family sales had two bedrooms or fewer.
The median in the 12 months before was $965,500 across 93 sales, so prices were about level. 17 condos and townhomes sold at a median of $599,000.
Morro Bay neighborhoods
Buyers searching Morro Bay usually sort homes by tract name. These are the three with at least nine single-family sales in the past 12 months. The names are as they appear on closed sales.
| Neighborhood | Single-family sales | Median price | Price per sq ft | Median days on market |
|---|---|---|---|---|
| North Morro Bay | 36 | $919,500 | $658 | 25.5 |
| Morro Heights | 22 | $1,100,000 | $635 | 33 |
| Morro del Mar | 11 | $800,000 | $623 | 52 |
North Morro Bay had the most sales. Homes were mid-sized (median 1,533 square feet, built in 1982) and priced just under the city median.
Morro Heights sits up the slope from the water and had the highest median of the three, at $1.1 million. Homes were larger (median 1,879 square feet) and took a median of 33 days to sell.
Morro del Mar had the lowest median price and the smallest homes of the three (median 1,415 square feet), and homes took the longest to sell, a median of 52 days.
Beach Tract, Harbor Tract and the Embarcadero area each had fewer than nine single-family sales in the past year, so we do not publish figures for them. Beach Tract is the area close to the beach, Harbor Tract is near the harbor, and the Embarcadero is the working waterfront with Morro Rock close by. Ask us and we will pull the closed sales for any of them.
Ocean-view homes
72 of the 107 single-family sales noted an ocean view in the listing. Those homes sold at a median of $992,450, compared with $875,000 for the 35 without a noted view. View quality varies a lot by street and elevation, so compare the actual sightline, not just the label.
Price ranges
Here is how all 131 residential sales (houses, condos and townhomes) broke down by price.
| Price range | Sales |
|---|---|
| Under $800,000 | 41 |
| $800,000 to $1.2 million | 56 |
| $1.2 million to $2 million | 29 |
| $2 million and up | 5 |
Buying your first home. Condos and townhomes (median $599,000) are the lowest-priced way into Morro Bay. Get pre-approved first, and ask your lender about first-time buyer programs that may apply to you.
Luxury homes. The $2 million and up tier is small in Morro Bay, with 5 sales in the past year. If you are shopping at that level, we recommend setting up alerts rather than waiting for a search to turn something up.
Timing
Over the last two years, homes that closed in January through March took a median of 43 days to sell. Homes that closed in April through June took a median of 17 days.
Schools
99 of the 107 single-family sales were in the San Luis Coastal Unified School District. Check the district's attendance boundary for a specific address.
