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Real Estate & Market Conditions in San Luis Obispo County.

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Home Sales & Median Sales Prices in Morro Bay

Review of Home Sales & Median Sales Prices in Morro Bay : 2009 to 2011

 

2009

2010

2011

Sales

108

112

158

Median Sales Prices

$509,750

$451,000

$400,000

Avg. Days on Market

151

128

144

 

A review of the past three years' median sales prices in Morro Bay shows an almost consistent decrease in sales prices.  In 2010, the median sales prices declined by about 11.5% when compared to the same period a year ago.  A year later in 2011, the median sales prices dropped by about 11.3%.

The lower sales prices probably led to the spike in the number of homes sold in 2011 where 46 more homes were sold, or an increase of about 41%, when compared to 2010.

Interestingly, the average number of days needed to sell a home in Morro Bay declined by 23 days in 2010, and went up by 21 days a year later.

Notwithstanding the low inventory, sales prices in Morro Bay may continue on the downtrend in 2012.

 

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Notes:  Condos and mobile homes are not included in the above statistics.

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Info provided as a courtesy by Sherry Sim, Broker/Owner of Sims & Company, offering real estate services in Cayucos, Cambria, Los Osos, Morro Bay, San Luis Obispo & rest of beautiful Central Coast, San Luis Obispo County.

For real estate information, including list of foreclosures and short sales,

please call/text Sherry @ (805) 234-4315 or Email: Sherry@SherrySim.com.

Data culled from local Multiple Listing System (M.L.S.), and deemed reliable at time of posting but not guaranteed. 

 

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