September 1, 2026

New listings are coming in cheaper than what's sitting

Josh McEwen, Invision Real Estate, DRE 02178333

If you are pricing a house this week, look at what just hit the market, not only what's been sitting.

Altos Research as of Tuesday, September 1 (same stamp as Monday) shows San Luis Obispo County with a median list of $1,177,000 on 574 actives. Forty-five percent of those listings already show a price cut. Median days on market on the list side is 56. The market-action index is 37.

The new-list median on that same Altos county pull is $1,073,877. That is the ask on what just came out. It sits about $100,000 under the median of everything already on the sheet. New sellers are not matching the old stickers.

Do not mash that with a sold number. Altos is list price and inventory. July closed sales are still the latest monthly print.

Santa Maria is still its own pocket

Altos Tuesday, Santa Maria: median list $789,900, 107 actives, 36% with a cut, 28 days on market, market-action index 59, $428 per square foot. That is North Santa Barbara County. It is not SLO County, and it is not a Five Cities average. Stronger seller lean than the county. Still plenty of trims.

San Luis Obispo city on the same Altos pull: median list $1,395,000, 61 actives, 34% with a cut, 56 days on market, market-action index 44, $656 per square foot.

Arroyo Grande: median list $1,599,000, 58 actives, 45% with a cut, 49 days on market, market-action index 37.

Morro Bay: median list $915,000, 23 actives, 65% with a cut, 70 days on market, market-action index 36. Small sample. The cut share is still the loudest number on that page.

Seller tip, short version

Price to the new comps, not to the listing that has been up six weeks. Buyers can see the cut rate. Altos has it on the list side every week.

Freddie Mac's Primary Mortgage Market Survey for the week ended August 27 is still 6.66% on the 30-year. The 15-year averaged 5.98%. The next print is Thursday, September 3. Waiting on Thursday is not a pricing plan.

One local note, not a sold-comp

Cal Coast News reported August 29 that Morro Bay's city council voted 4-1 to buy the old Morro Elementary site for $5.3 million. That is city land and future use. It is not a price for a house on your street. Cal Coast News: "Morro Bay City Council votes to purchase school site".

If you are listing in Arroyo Grande, SLO, Paso, Morro, or Santa Maria this month, I will walk the new lists with you. No countywide average dressed up as your neighborhood.

Josh McEwen, Invision Real Estate, DRE 02178333, (805) 668-7238, josh@invision-real-estate.com. Broker: Aaron David Peck, DRE 01387499.

Sources: Altos Research SLO County, Santa Maria, SLO city, Arroyo Grande, and Morro Bay as of Sep 1, 2026 (same Altos stamp as Aug 31); Freddie Mac Primary Mortgage Market Survey week ended Aug 27, 2026; Cal Coast News, "Morro Bay City Council votes to purchase school site," Aug 29, 2026.