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.