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!
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 6.63% from 6.76% last week. At 6.63%, with a 20% down payment, the monthly mortgage payment totals $2,050 for a home priced at $400,000. With a 10% down payment, the typical payment would be $2,306.
Positive: This is the lowest rate for the 30-year fixed mortgage since December, marking seven consecutive weeks of decline. Mortgage applications showed a notable weekly increase of 20.4% as buyers capitalized on lower rates, including refinancing higher-rate mortgages. Home buyers are in a favorable position as they encounter more inventory and improved rates ahead of a Spring rush.
Negative: Will homeowners feel financially secure, even with housing equity to move?
Congratulations Jaime on representing the sellers of this home in Atascadero. These sellers knew that when it came time to sell their home they would be reaching out to Jaime. They had already identified and were under contract on their next home and wanted to close concurrently. Jaime was able to make this happen and the clients were very pleased with a quick and smooth process. The home spent 3 days on the market and closed $5k over the asking price. We wish the sellers well as they start their new chapter of life in beautiful surroundings.
2025 is off and running but according to Punxsutawney Phil, spring isn’t coming anytime soon. Although I don’t think the trees and plants got the memo. They’re already starting to bloom due to the little bit of rain we’ve received recently.
We are so excited to announce that we were voted Best Real Estate agency for the Best of North SLO County Readers Poll! That makes 12 years in a row!!!
Plus, our owner/broker Jaime Silveira was voted Best Real Estate Agent!
We want to say thank you to our wonderful community for taking the time to vote us best real estate agency and real estate agent. We are incredibly honored by the award. It means a lot to us here at Malik Real Estate Group.
Time to look at the numbers for Atascadero, Templeton and Paso Robles. The number of homes sold went down in Atascadero (-17%) and Templeton (-50%) in February 2025 when compared to February 2024 but went up in Paso Robles (+18%). However, the median sales price increased in Atascadero (+4%) and Templeton (+40%) but decreased in Paso Robles (-4%). When comparing the average sales price to the average list price, both Atascadero and Templeton were at 99% while Paso Robles was at 97%. That means homeowners, on average, were able to sell their homes for between 97% - 99% of the asking price. We continue to see these high comparison rates month after month, indicating that the Central Coast’s home market is still very desirable.
Spring is right around the corner and data shows us that it’s a popular time of year to list a home for sale. According to Realtor.com, home sellers who list during the second week of April will be able to take advantage of the spring buying season’s anticipated demand and all the pluses that come along with having an eager buyer pool. So, if you’re interested in selling your home this year, start getting it ready to hit the market now. This way you’ll be able to take advantage of the year’s strongest listing period.
Here are some statistics for Atascadero, Paso Robles and Templeton for the month of February 2025. If you would like to see information on other Central Coast cities, please let me know. Feel free visit us at www.MalikRealEstate.com for a city-by-city view of local listings as well as more useful real estate information.
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.
