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 Ashley and Trudy for representing the buyers of this home in Atascadero. The clients purchased this home as an investment and are ready to roll up their sleeves and get to work, bringing this home back to its former glory. They love the part of town where the home is located and saw its potential right away. We can’t wait to see it again when they finish!
I hope everyone had a wonderful Thanksgiving!
Is everyone gearing up for the Holidays? I know in my household we have officially kicked off the Christmas season. We went to Hidden Springs Christmas Tree Farm and cut down our tree (a tradition we’ve been doing for years), our Elf on the Shelf is in full swing and I’m hosting our office holiday party tomorrow.
November numbers are in so let’s talk about them. The number of homes sold increased in all three North San Luis Obispo County cities compared to this time last year; Atascadero increased 73%, Paso Robles increased 3% and Templeton increased 133%. The median sales price rose in Atascadero 9% but both Paso Robles (-8%) and Templeton (-35%) saw a decrease. 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 2024. 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. 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 2024. If you would like to see information on other Central Coast cities, please let us know.
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
Congratulations Kelly on representing the seller of this home in Atascadero. This client is a friend of Kelly’s, and she was so honored that her friend reached out to her to sell the home. It always means so much to us when friends or family trust us to help them buy or sell a home.
Congratulations Jaime on representing the sellers of this condo in Atascadero. The condo received multiple offers and closed in just 7 days for full asking price! Phew, that was a quick one! The sellers are very pleased and impressed with the accelerated sale of their property.
For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership.
Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home.
Facts: The average 30-year fixed mortgage rate from Freddie Mac was essentially flat at 6.78% from 6.79% last week. At 6.78%, with 20% down, a monthly mortgage payment is $2,082 on a home with a price of $400,000. With 10% down, the typical payment would be $2,342.
Positive: Mortgage applications increased this week despite higher rates over the last few weeks. The election was decided, and buyers have resumed their search after an election pause. Even with a historically low share of first-time buyers, it is important to note that late Fall and Winter months are traditionally more favorable for first-time buyers as families bow out.
Negative: There have been two Fed rate cuts, and more are expected in 2025. However, these are not directly tied to mortgage interest rates, which are more closely tied to the 10-year treasury, which has increased in the last week. This week also showed inflation (down from last year but up from last month).
