What homes cost in San Luis Obispo
The median single-family home sold for $1,218,743, or $660 per square foot. The middle half of single-family sales landed between $983,000 and $1.63 million. The median home was 1,852 square feet and was built in 1987.
For comparison, the median single-family sale in the 12 months before was $1,225,000 across 320 sales, so prices held about level.
Condos and townhomes are a separate market. 126 of them sold at a median of $739,000.
By ZIP code
San Luis Obispo has two ZIP codes with single-family sales, and they behave differently.
| ZIP code | Single-family sales | Median price | Price per sq ft | Median days on market |
|---|---|---|---|---|
| 93405 | 113 | $1,265,000 | $677 | 8 |
| 93401 | 213 | $1,200,000 | $653 | 19 |
93405 covers the north and west side of the city, including the area toward Cal Poly and Laguna Lake. Homes there sold in a median of 8 days, the fastest of anything we measured in the city. The median home was built in 1979.
93401 covers downtown and the east and south parts of the city. It has more of the newer homes (median year built 1995) and a wider spread of sizes, and homes took a median of 19 days to sell.
Price ranges
Here is how all 465 residential sales (houses, condos and townhomes) broke down by price.
| Price range | Sales |
|---|---|
| Under $800,000 | 110 |
| $800,000 to $1.2 million | 167 |
| $1.2 million to $2 million | 135 |
| $2 million and up | 53 |
Buying your first home. Condos and townhomes (median $739,000) make up most of the sales under $800,000, so that is where most first purchases happen. Get pre-approved before you tour, and ask your lender about first-time buyer programs that may apply to you.
Luxury homes. 53 homes sold for $2 million or more, at a median of $2,475,000. Ten of them were $3 million or higher. Homes in this tier took a median of 23 days to sell, compared with 14 days for the typical single-family home.
Schools and hospitals
322 of the 326 single-family sales were in the San Luis Coastal Unified School District. French Hospital Medical Center and Sierra Vista Regional Medical Center are both in the city. If you are relocating for a hospital job, our guide for physicians moving to San Luis Obispo County compares prices in the towns around each hospital.
Selling in San Luis Obispo
Single-family homes sold for 98.6% of their original list price, so well-priced homes here usually do not need large reductions. Timing matters too. Over the last two years, homes that closed in April through June sold in a median of 11 days, compared with 18.5 days for January through March closings.
If you are thinking about selling, tell us about your home and we will go through what has closed near you.
