Is Morro Bay, CA 93442 a buyer’s or seller’s market?

The Morro Bay housing market right now

In the three months ending August 31, 2026, 23% of homes in Morro Bay, CA 93442 sold above their list price, the typical home went under contract in 63 days and there were 3.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 31 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 7%, homes sold faster (68 days then) and the median sale price fell 2% to $942,092. Overall, Morro Bay is more competitive than a year ago, so tougher for buyers.

Within San Luis Obispo County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell more often over asking than in 61%. On our competition score, Morro Bay ranks #913 of 1,069 CA ZIP codes with enough sales (score 38 out of 100).

Nearby, buyers who want less competition could look at Santa Margarita 93453 (0% sold over asking) or San Simeon 93452 (0% sold over asking), while Cambria 93428 (33% sold over asking) and Creston 93432 (33% sold over asking) are even more competitive.