I hope everyone had a wonderful Thanksgiving!
It’s officially December and boy has the holiday spirit kicked into high speed already! There are so many fantastic parades, showcases and events involving Christmas lights all over the Central Coast to attend. I know my family enjoys going to these events as part of our holiday tradition.
November numbers are in, and they are very different from city to city this month. For Atascadero, the number of homes sold took a bit of a dip as did the median sales price. In Paso Robles we see that the number of homes sold and the median sales price both had a small increase. Templeton saw a decrease in the number of homes sold but a large increase in the median sales price. The median sales price rose dramatically because 4 of the 6 homes that sold were well above a million dollars. However, all three cities continue to see home prices remaining strong. When comparing the average sales price to the average list price, homes are closing at or slightly below the list price.
The Real Estate Market here on the Central Coast is slowing down as we enter the last month of 2023. This is nothing to be alarmed about, we are simply following our typical Real Estate cycle that we experience this time of year. This, in part, is why we continue to see the number of active homes on the market increase. It is also why we are seeing an increase in the number of homes with price reductions. For buyers this is great news. They have more inventory to choose from and should be able to purchase a home for a fair price. For sellers, you may have to be a little more patient and a little more willing to negotiate on your terms. Again, nothing to be alarmed about. As I stated above, homes are closing at or close to the asking price. So, whether you’re a buyer or seller, the housing market on the Central Coast is a solid investment.
Here are some statistics for Atascadero, Paso Robles and Templeton for the month of November 2023. If you would like to see information on other Central Coast cities, please let us know.