Where to go, to find the perfect home for you in price, value, climate and employment?
Our San Luis Obispo office, being located downtown San Luis Obispo on Marsh, gets frequent walk-in clientele; often visitors from outside our region. Much of the time spent in discussion is devoted to apprising visitors of the differences attributed to each unique city within San Luis Obispo County. The list of comparison is not short of climates and micro-climates, industry and workplace, entertainment and tourism, variance and vibe; and in a real estate office, bang and the buck are always at the top of that list!
With a wide spread in median home prices from town to town throughout SLO County, it is worthwhile for a home buyer to give consideration to each region; especially first-time home buyers lacking down payments and the ability to compete with all cash buyers. From North County to South County (Arroyo Grande, Nipomo, Grover Beach) and Coastal (Morro Bay, Cayucos, Avila Beach, Pismo Beach), the price per square foot median can range from $238-$603 per square foot. (Statistics gathered from Realtor.com)
It is believed that the further away you get from the city of San Luis Obispo, the county’s hub, the more affordable the real estate. But given the diversity in towns from one another, there can be variances to that generalization. Homes are less expensive in the North County (Santa Margarita, Atascadero, Templeton, Paso Robles) where the great divide happens at the Cuesta grade heading north up the 101. One of the more noted degrees of separation is the climate change which on average can be about a 10-degree difference or more.
Certainly, for the money you can get more square footage and/or property for your dollar north over the grade. Real estate transactions are more plentiful in the north county whereas in San Luis Obispo there maintains a shortage of inventory driving demand and requiring competitive offers. When the market enters this kind of frenzy, paying top-dollar for a home means you are entering that investment with less equitable asset. Equity built in one’s home becomes a strength factor for home buyers looking for their subsequent replacement properties. These seasoned home owners and asset rich investment brokers are who first time home buyers must compete against. The factor of securing a home that is equity poor because of a potentially over-inflated purchase price might be an example of what buyers should consider adding to their “con” side of a list. To each his own.
Deciding where to live in San Luis Obispo County is a good problem to have, regardless. It is a worthwhile exploration to find merit of each esteemed town in the county. The challenge is raised, and granted, the fun is in the discovery. Should you need assistance, guidance, or an escort CONTACT US, we have over 35 agents here at San Luis Obispo Realty and Bayshore Realty (our Morro Bay real estate partner) that would be thrilled to tell you all we know to be true of our great county!