Spring has officially sprung!  The flowers are starting to bloom, weeds are growing out of control and wait… what happened to our beautiful weather?  We’ve dropped 20 degrees and it’s raining again?  Yup, sounds like spring weather on the Central Coast.  You never know how the weather will be in the first week of May.

Well, our market is definitely picking up!  We’re seeing the number of new listings coming on the market going up.  However, even with the number of new listings ticking up, the buyers’ demand seems to almost be as thirsty as it’s been the last couple years.  Homes are going under contract, days on market, at a quicker rate than the first 3 months of 2023.  Is this an indication of what’s to come?  We’ll have to wait and see.

While looking at the numbers for April you will notice that the median sales price is a bit less in Paso Robles and Templeton than this time last year.  This is most likely because some very high priced properties sold during that time last year, skewing the median sales price.  But you’ll also notice that those prices are continuing to rise, further showing home values are remaining strong.

With the market heating back up, we are starting to see multiple offers coming back into play.  Homes are selling at or slightly above their list price.  When comparing the average list price to the average purchase price, the numbers are indicating that homes on the Central Coast are on average closing above their initial asking price.  Could this be because of multiple offers pushing the prices up again?  More than likely yes.  Multiple offers tend to drive the price of a home above the asking price.  If these trends continue on the Central Coast, we’ll be in for an interesting second quarter.

Click here to see some statistics for Atascadero, Paso Robles and Templeton for the month of April 2023.  If you would like to see information on other Central Coast cities, please let us know.