Thinking about selling your house and wondering if now’s a good time to do it?
Congratulations Jaime on representing the seller of this home in Atascadero. Every transaction has many layers and this one was no exception. From tenants to repairs needed to satisfy insurance qualifications to weather to crane operators and coordinating multiple contractors. Jaime was able to help the seller pivot where needed so they could close on time and still be able to successfully complete their out of the area 1031 exchange. This was a transaction where experience truly mattered and the seller was very thankful for Jaime’s expertise and knowledge.
Congratulations Jaime on representing the sellers of this home in Santa Margarita. She was getting ready to bring this home to the market when some neighbors caught wind of the potential sale. Jaime was able to help facilitate an off-market sale and the sellers were able to take advantage of Malik Real Estate’s Smart Seller Program. The sellers are extremely pleased with how the sale went and even more excited by who bought the house. It was a win-win!
It’s March and 2024 is off and running. We’ve had a couple rain storms followed by some beautiful weather and it’s tricking all the trees and plants into thinking it’s springtime already. But, maybe Punxsutawney Phil will be correct and we’ll see an early spring. Fingers crossed!
Time to take a look at the numbers for Atascadero, Templeton and Paso Robles for February 2024. The number of homes sold in Atascadero and Templeton went up significantly in February 2024 when compared to February 2023 but took a slight dip in Paso Robles. However, the median sales price in all three towns increased. When comparing the average sales price to the average list price, all three towns are above 96%. That means homeowners, on average, were able to sell their homes for between 96% - 99% of the asking price. We continue to see these high comparison rates month after month, indicating that the Central Coast’s home market is stable and still very desirable.
Days on market is a number that continues to rise. The median days on market for Atascadero was 18, Templeton was 27 and Paso Robles was 30. Historically, these numbers are still quite low. However, during Covid we saw phenomenally low days on market and it has taken a couple years to normalize. These numbers are much more representative of a healthy real estate market.
Spring is right around the corner and data shows us that it’s a popular time of year to list a home for sale. According to Realtor.com, home sellers who list during the second week of April will be able to take advantage of the spring buying season’s anticipated demand and all the pluses that come along with having an eager buyer pool. So, if you’re interested in selling your home this year, start getting it ready to hit the market now. This way you’ll be able to take advantage of the year’s strongest listing period.
Here are some statistics for Atascadero, Paso Robles and Templeton for the month of February 2024. If you would like to see information on other Central Coast cities, please let me know. Feel free visit us at www.MalikRealEstate.com for a city-by-city view of local listings as well as more useful real estate information.
Buying your first home is a big, exciting step and a major milestone that has the power to improve your life. Continue Reading.
2024 is off and running, we’re already in February! How did that happen?! I feel like we just celebrated the New Year.
As we look toward the rest of our shiny new year, it’s regularly required to look at what is immediately affecting us. Right now it’s the weather. The amount of rain and strength of the winds was a recipe for disaster. Some areas were more affected than others and it is truly my hope that you all have pulled through relatively unscathed.
Looking at the numbers from January 2024, we appear to be off to a slow start. The numbers for the total homes sold seem to be pretty low. I do emphasize “seem” because when comparing January 2024 to January 2023, we can see that we are on par for this time of year. Atascadero saw 15 homes sold in January 2024 which is up from the 14 homes sold in January 2023. Paso Robles numbers were up, selling 26 homes in January 2024 as compared to the 23 homes sold in January 2023. Templeton is the only town slightly down with selling just 1 home in January 2024, it recorded 2 homes sold in January 2023.
In terms of sales price, however, we again see that median sales prices are up in Paso Robles, +19%, and Templeton up +4%. Atascadero saw a slight decrease of -12%. When comparing the average sales price to the average list price, all three towns are above 95%. That means homeowners, on average, were able to sell their homes for between 95% - 98% of the asking price. We continue to see these high comparison rates month after month, indicating that the Central Coast’s home market is stable and still very desirable.
Perhaps the biggest difference we see when looking at the January 2024 numbers is the days on market. For so long we have been in the single digits to low teens, but this month we saw quite a jump. Atascadero median days on market was 34, Paso Robles was 30 and Templeton was 1 (but remember Templeton only had 1 home sell). These higher days on market can seem alarming, but when we compare those to January 2023, they’re very similar. On average, November, December and January are slow months in the Real Estate market. The end of the year is filled with large holidays and the last thing on most homeowners’ minds during that time of year is selling their home. Most will want to get through the holidays before they explore selling their home. But, I can tell you from the number of listing appointments that I have been on lately, Spring is going to be a popular time! So, if you’re ready to buy the home of your dreams or sell your home to move onto the next chapter of your life, get ready now so you’re ready to go when the housing market heats up again.
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Continue Reading.
Congratulations Baxter for representing the buyers of this home in California Valley. Baxter had been working with these buyers since October and he was able to help his clients navigate a complicated escrow process and successfully close on this home. His clients are thankful for his expertise, knowledge and patience.
If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. Continue Reading