Sunshine! It feels so nice to be able to get outside and enjoy the clear blue skies. Spring feels like it’s in full swing with all the community events happening these coming months. Have you been to see the wildflowers on Shell Creek Rd yet? They are stunning!
Our market on the Central Coast is starting to pick up. We’re slowly seeing more inventory hit the market but it seems like it's being gobbled up as quickly as it appears. But fear not, traditionally this time of year we start to see an influx of homes come to the market. This year should be no different. So be patient, the right home for you will hopefully be coming soon.
While looking at the numbers for March you will notice that the median sales price is a bit less than this time last year. You can also see that the median days on market are higher. These numbers can be skewed because of one or two very high-priced homes selling that month (which is the case for March). If one or two multi-million dollar properties sell, the median sales price will be higher and the days on market will go up because it takes longer to sell the higher priced homes.
For the most part, bidding wars are over. Homes are selling at or slightly below their list price. Compared to this time last year, homes were on average selling above their listing price. These numbers are evidence that we are settling into a more normalized, relaxed market. It’ll be interesting to see what spring brings for the Central Coast. Will we continue to see a relaxed market or will the market heat back up again? Hopefully the market continues to stabilize, but only time will tell.
Click on the Malik sign above to see some statistics for Atascadero, Paso Robles and Templeton for the month of March 2023. If you would like to see information on other Central Coast cities, please let us know.