Barry Brown

Morro Bay, CA

Single-Family Homes

Barry Brown Real Estate - Broker/Owner


Morro Bay, CA

Sat Apr 20 2024
This week the median list price for Morro Bay, CA is $966,500 with the market action index hovering around 46. This is less than last month's market action index of 52. Inventory has increased to 16. Click here to stay informed with the Morro Bay market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Morro Bay, CA

Sat Apr 20 2024
This week the median list price for Morro Bay, CA is $966,500 with the market action index hovering around 46. This is less than last month's market action index of 52. Inventory has increased to 16. Click here to stay informed with the Morro Bay market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Morro Bay market.
Median List Price $966,500
Median Price of New Listings $1,062,500
Per Square Foot $852
Average Days on Market 60
Median Days on Market 32
Price Decreased 25%
Price Increased 0%
Relisted 6%
Inventory 16
Median Rent
Market Action 46
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,062,500 1,965 4,500 - 6,500 sqft 3 2 56 2 0 14
$1,047,000 1,016 4,500 - 6,500 sqft 3 2 65 0 0 66
$887,500 1,155 0 - 4,500 sqft 2 2 60 1 0 70
$749,000 863 0 - 4,500 sqft 2 1 67 1 1 7