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Featured local agent — Morro Bay, CA
Sarah Mitchell
Compass Real Estate · Morro Bay, CA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Morro Bay, CA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$901,250median sale price
How is the Morro Bay, CA housing market right now?
The median home sale price in Morro Bay, CA is $901,250, down 24.9% year-over-year. Homes sell in an average of 38 days with 32 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Morro Bay a buyer's or seller's market?
Morro Bay, CA is currently a seller's market, based on 2.3 months of supply and homes selling in about 38 days. How we determine this →
Homes sold
14
Last 12 weeks
Days on market
38
Average pace
Active listings
32
2.3 months supply
Sale-to-list
97.4%
Below asking
What does the Morro Bay housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $901,250 |
| Median list price | $985,000 |
| Year-over-year price change | -24.9% |
| Average days on market | 38 days |
| Active inventory | 32 listings |
| Months of supply | 2.3 months |
| Sale-to-list price ratio | 97.4% |
| Median price per sq ft | $590/sq ft |
| Homes sold (latest month) | 14 |
| New listings (latest month) | 17 |
| Listings with a price cut | 25.0% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Morro Bay by property type?
How the Morro Bay, CA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.01M | $601/sq ft | 12 | 47 days |
| Condo / Co-op | $600,000 | $580/sq ft | 2 | 5 days |
| Townhouse | $404,000 | $374/sq ft | 1 | 64 days |
Source: Redfin · Updated monthly
The Morro Bay housing market is currently classified as a seller's market with a median sale price of $901,250. Prices have fallen 24.9% compared to last year, with homes spending an average of 38 days on market, indicating 2.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 10.3x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Morro Bay
There are currently 32 homes listed for sale in Morro Bay, California. The median listing price is $985K.
Active listings
32
Homes on market
Median list price
$985K
Avg. days on market
38
Days until sale
New this week
17
Newly listed
Who lives in Morro Bay?
Population
10,717
Median income
$92,553/yr
Median age
52.9 years
Owner-occupied
60.5%
College grads
46.4%
Avg commute
20.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Morro Bay?
Zillow home value
$952,480
Zillow rent index
$2,660/mo
Price-to-rent ratio
29.8x
Price-to-income
10.3x
Source: Zillow Research
What is it like to live in Morro Bay?
Morro Bay is a community of approximately 11K residents with a median age of 52.9 years.The median household income is $92,553, which reflects a relatively affluent area with strong earning potential. 46.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 60.5%, showing a blend of owner and renter-occupied properties. The average commute time is 20.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Morro Bay offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Morro Bay?
2 schools tracked · 1,039 students
The largest public schools serving Morro Bay, CA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Morro Bay High
Grades 9-12 · 773 students
Del Mar Elementary
Grades K-5 · 266 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Morro Bay, CA?
Want a head-to-head view? Compare Morro Bay side-by-side with any other U.S. city using our market-comparison tool.
Is Morro Bay a good real estate investment market?
For investors evaluating Morro Bay, the price-to-rent ratio of 29.8x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 24.9% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Morro Bay's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Morro Bay's median home price.
Frequently asked questions
What is the average home price in Morro Bay?
The median home sale price in Morro Bay is $901,250, down 24.9% from last year.
How long do homes stay on market in Morro Bay?
Homes typically spend 38 days on market before going under contract.
What is the median income in Morro Bay?
The median household income is $92,553 per year.
Is Morro Bay a buyer's or seller's market?
With 2.3 months of supply, Morro Bay is currently a seller's market.
What is the Zillow home value estimate for Morro Bay?
The Zillow Home Value Index (ZHVI) for Morro Bay is $952,480, representing the typical home value in the area.
What is the median condo price in Morro Bay?
The median condo/co-op sale price in Morro Bay, CA is $600,000, compared to $1.01M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Morro Bay?
The median single-family home price in Morro Bay, CA is $1.01M (about $601 per square foot).
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