What Recent Sales in San Luis Obispo Tell Us About Today’s Housing Market

Photo by Jason Moyer on Unsplash

If you’re thinking about selling your home in San Luis Obispo, the latest closed sales offer some hard facts—and useful strategy. Prices are holding, but buyers are negotiating. Concessions are common. And days on market matter more than ever.

Let’s break down what the numbers are saying, and how you can use this info to make a smarter move.

What Just Sold—and for How Much

Here are recent sales in SLO and what they reveal:

• 1540 La Cita Ct: Listed at $1.299M, closed at $1.125M after 69 days with a $28K buyer credit. Strong layout with ADU but still needed adjustment to move.
• 1195 Oceanaire Dr: Started at $985K, closed at $925K after 93 days. Needed updates. Buyer paid cash, still got over $20K in concessions.
• 47 Los Palos Dr (Condo): Closed at $785K after 49 days, with $19K in credits. It was clean and well-located but still took a discount.
• 3080 Lucca Ln: Newer build, listed and sold at $1.169M, but it sat on the market for 137 days. Buyer likely had leverage at that point.

Across the board, every property had to give somewhere—either on price, credits, or time.

The National Picture Confirms It

The latest Case-Shiller and FHFA reports back it up:

• 3.4% annual growth nationwide, slightly down from earlier in the year
• Spring increases are slowing, especially after seasonal adjustments (-0.3% adjusted)
• Urban and coastal markets like SLO are still outperforming the average, with stronger year-over-year gains

So while values are stable, buyers aren’t rushing in blind. They’re taking their time and expecting value—especially as rates stay high.

What You Should Do If You're Selling

Based on what we’re seeing:

1. Don’t overprice to “test the market.”
   Homes that sat over 60 days either got hit on price or had to offer credits.

2. Plan for buyer credits.
   Every sale offered something—$20K to $30K in some cases. Price with that in mind.

3. Get your home show-ready.
   Properties that were clean, updated, and move-in ready moved faster and closer to list.

4. Highlight income potential.
   ADUs and bonus space help justify higher list prices, but they don’t eliminate buyer caution.

5. Move before the summer window shrinks.
   Buyers are active now, but that slows by late July. Listing now gives you the best shot at a clean, timely sale.

Want to know where your home fits in the current market? Let’s talk. I can run the numbers and help you prep, price, and promote your property the right way. No guesswork—just strategy that’s grounded in what buyers are doing today.

Condo For Sale Near Cal Poly: Ideal for Students and Investors! | San Luis Obispo houses for sale

Are you looking for a prime investment opportunity or a convenient home base near Cal Poly University? Look no further! This stunning condo at 1185 E Foothill Blvd #5 offers the perfect blend of convenience, style, and comfort. Located just a block away from Cal Poly's campus, this property is ideal for students and investors alike.

Property Highlights

• Price: $735,000
• Bedrooms: 2
• Bathrooms: 2
• Square Footage: 1,218 sqft
• Year Built: 1986
• Parking: 2-car tandem carport
• Community: Pine Creek

Modern Living in a Prime Location

This freshly updated condo features luxury vinyl plank flooring, freshly painted walls, and ample natural light. The spacious layout includes:

• A cozy den and living room
• A functional loft
• An office/den
• A private backyard accessible from the first-floor bedroom
• A balcony on the main level

All appliances, including a newer washer and dryer, are included, making your move-in effortless.

High Rental Demand

With its close proximity to Cal Poly University, this condo guarantees high rental demand and low vacancy rates. Currently rented through June 30th, 2025, at $4,200/month, this property could be one of the best returns on investment in town.

Nearby Amenities

Living at 1185 E Foothill Blvd #5 means you're never far from the best that San Luis Obispo has to offer. Here are some popular spots nearby:

Coffee Shops

• Scout Coffee Company: 1130 Garden St, San Luis Obispo, CA 93401
• Field Day Coffee: 1185 Monterey St, San Luis Obispo, CA 93401

Restaurants

• Raku Ramen: 799 E Foothill Blvd, Ste A, San Luis Obispo, CA 93405
• 1865 Craft House & Kitchen: 1865 Monterey St, San Luis Obispo, CA 93401

Parks

• Laguna Lake Park: A beautiful spot for outdoor activities and relaxation.
• Mission Plaza: A historic and scenic area perfect for leisurely strolls.

Contact Me for More Information

Don't miss the chance to make this exceptional condo your new home or investment property. For more information and to schedule a viewing, contact:

Justin Stoner
Buyer's Agent
Central Coast Sotheby's International Realty
License #02208362
(805) 440-8104

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Listing Agent:
Clint Nunes
Triad Real Estate Group
License # 01954616
805-328-4676

Developers may be required to build more affordable housing in SLO

Real estate developers could be required to include as much as 10 percent of their housing stock to be below-market-rate value for low- and moderate-income families, according to a new proposal.

The City of San Luis Obispo wants to ramp up the construction of affordable housing units. An updated draft of the Inclusionary Housing Ordinance would require 5 percent of new development to be low income. 

Another 5 percent would be moderate-income, meaning 10 percent of housing in the city would be below market rate value. That's up from the current requirement of 3 percent for low income, or 5 percent for moderate-income households.

The proposal will be discussed at the planning commission's next meeting on June 8. 

There will be some exemptions to the new ordinance if it's passed, including new developments of four units or less.