October Market Review

Market Update: Strong Seller’s Market Continues to Gain Momentum in Atascadero

As we move further into the fall season, the real estate market in Atascadero and North San Luis Obispo County continues to offer dynamic opportunities, especially for sellers. Building on what we saw last month, there’s been a noticeable shift toward an even more competitive market, as demand continues to outpace supply. Whether you’re looking to buy, sell, or just stay informed, these updates can help you understand what’s happening in our local market right now.

Here you can see a break down of last months trends in Atascadero, CA.

Market Snapshot: What’s New Since Last Month?

In September, the Months Supply of Inventory was at 1.91, showing a slight year-over-year increase (+2.69%) and signaling a balanced yet competitive market. However, this month has brought an even tighter supply, now down to just 1.84 months. This change highlights a more pronounced seller’s market, with fewer homes available and high demand from buyers eager to secure property in our area.

Quick Turnaround Times for Sales

Last month, homes in Atascadero were selling in a median of 14 days. Now, we’re seeing an even quicker pace, with homes going under contract in just 12 days. This shift underscores how attractive and competitive the Atascadero market has become, with buyers acting swiftly to secure properties.

Pricing Trends: Positive News for Sellers

Last month, the List to Sold Price Percentage was 100.5%, meaning homes were often selling slightly above their asking prices. This month, we’re seeing a slight adjustment, with sellers achieving around 99% of their list prices on average, which is still a strong indicator of high buyer interest. Additionally, the Median Sold Price has risen from $697,500 in September to $815,000 this month, demonstrating that well-priced homes are selling quickly at or near the list price.

What Does This Mean for Buyers and Sellers?

If you’re a seller, current conditions favor you greatly. With low inventory and fast sales, listing now can lead to strong offers and a quicker sale timeline. For buyers, this fast-paced environment means preparation is crucial. With limited inventory and high demand, securing a pre-approval with a reputable lender and having a trusted Realtor by your side can make all the difference in moving quickly and securing your desired property.

Ready to Navigate Atascadero’s Competitive Market?

The Atascadero real estate market is moving fast, and having a dedicated, knowledgeable guide can help you feel confident whether you’re buying, selling, or simply exploring your options. If you’re ready to discuss your next steps or want to know more about current trends, don’t hesitate to reach out. I’m here to help you navigate this exciting time in real estate and ensure you’re positioned for success in this ever-changing market.