Our blog serves as a comprehensive resource offering insights into market statistics, home values, and practical advice for buying and selling properties. We also include local information to keep you informed about the community we care deeply about. If you have any questions, feel free to contact us. We’re eager to assist you in finding your perfect home!
Congratulations Baxter on representing the seller of this home in Cayucos. The seller of this unique home is a retired realtor. She stayed with Baxter as they worked through an unusual real estate market in the last half of 2024, and ended up finding a new family who will continue to love the home.
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
Facts: The average 30-year fixed mortgage rate from Freddie Mac decreased to 6.76% from 6.85% last week. At 6.76%, with a 20% down payment, the monthly mortgage payment amounts to $2,078 for a home valued at $400,000. With a 10% down payment, the typical payment would be $2,337.
Positive: This is the lowest rate for the 30-year fixed mortgage in two months, marking six consecutive weeks of rate declines. It results in a monthly savings of $60 on a $400,000 home, which represents a 20% decrease from when rates peaked recently at 7.04%. Is $60 a dealbreaker for someone purchasing a home? Perhaps not. However, it could influence a buyer’s financial perspective, shifting from the mid-6% range instead of 7%. Ultimately, vibes rather than data could prevail.
Negative: Pending Home Sales released today indicated the lowest number of ratified contracts recorded, reflecting the higher rates experienced over the past 60 days. Mortgage applications remain stagnant, suggesting that home buyers might adopt a wait-and-see approach while considering the broader economy.
Congratulations Jaime on representing the seller of this home in Atascadero. The transaction went smoothly, and the seller is looking forward to their next chapter of life.
Congratulations Jaime on representing the sellers of this condo in Atascadero. The transaction went smoothly and the sellers are very pleased.
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
Facts: The average 30-year fixed mortgage rate from Freddie Mac fell to 6.85% from 6.87% last week. At 6.85%, with a 20% down payment, the monthly mortgage payment is $2,097 for a home priced at $400,000. With a 10% down payment, the typical payment would be $2,359.
Positive: Mortgage rates are easing and are expected to remain in the mid-6 % range. Buyers can plan and search for homes without the uncertainty of fluctuating mortgage rates.
Negative: Although mortgage rates have fallen for five consecutive weeks, mortgage applications have dipped. Housing affordability continues to be challenging due to limited housing inventory.
Neutral: An unusual metric in today’s housing market is that over one-quarter of home buyers have not financed their homes in the last 28 months, opting to pay all cash. These buyers do not necessarily pay attention to mortgage interest rates.
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
Facts: The average 30-year fixed mortgage rate from Freddie Mac fell to 6.87% from 6.89% last week. At 6.87%, with a 20% down payment, the monthly mortgage payment is $2,101 for a home priced at $400,000. With 10% down, the typical payment would be $2,364.
Positive: Mortgage interest rates have decreased for four consecutive weeks. This timing is encouraging as home buyers begin to enter the early Spring housing market, and mortgage applications have also risen. If housing inventory continues to grow, home buyers will find themselves in a more favorable position compared to previous years.
Negative: Although rates are lower on a weekly basis, the overall housing affordability equation considers the price of the home alongside expenses such as utilities, taxes, and insurance.
The first month of 2025 has come and gone. Was it fast for you? It seemed like it flew by! The weather is definitely cold and it doesn’t look like it’s going to warm up any time soon with Punxsutawney Phil seeing his shadow. 6 more weeks of winter! Well, hopefully the rain will continue, we can always use it.
Let’s take a look at the numbers for January 2025. The numbers of homes sold all increased from this time last year in Atascadero (+17%), Paso Robles (+23%) and Templeton (+300%). That’s quite a start for 2025! The median sales price also increased in all three North County cities. Atascadero saw a 10% increase, $640,000 in 2024 to $702,500 in 2025. Paso Robles had a 7% increase with median sales prices of $648,000 in 2024 and $695,000 in 2025. Templeton saw the largest increase of 86% with median sales prices of $820,000 in 2024 and $1,525,000 in 2025. It’s important to note that in January 2024 only one home sold in Templeton while in 2025 there were four homes that sold, three of which were over $1,200,000.
Homes on the Central Coast are still closing for close to the listing price. Sellers in Atascadero received 98% of their asking price while sellers in Paso Robles and Templeton received 99% of their asking price. This shows that the housing market on the Central Coast is remaining strong.
Experts are still predicting moderate price increases on the Central Coast, but a more balanced supply-demand dynamic. So that’s good news for both buyers and sellers!
Here are some statistics for Atascadero, Paso Robles and Templeton for the month of January 2025. If you would like to see information on other Central Coast cities, please let us know.
