Hey Paso Robles! Here is the Paso Robles real estate market update for April 2023.
This Paso Robles real estate market has picked up steam, and the recent reduction in interest rates is likely to keep fueling it!
Although the median home price has drifted down form the same time last year, we have very low inventory levels, and with the recently increasing buyer demand, multiple offers are back, and competition for homes in good condition and fairly priced is fierce.
We continue to be in the midst of a very, very low inventory situation, with only 80 active listings available for sale in April.
Officially, it is taking a median of 24 days to get a home under contract, but in recent experience, well-priced, well-presented properties are going under contract selling in 3 to 4 days, with multiple offers. Next month’s market report is likely to start reflecting that trend.
In addition, 43% fewer properties sold than the same time last year, and agin, that is clearly because we had far fewer properties to sell, compared to the previous year.
We currently have 1.9 months of supply in our market. What does that mean? That means that it will take less than 2 months to sell all the currently available properties, if we maintain the current pace of property sales in the Paso Robles real estate market.
Are you a resident of North SLO County? Do you want to know what all this means for your current home value?
Are you a potential buyer? Do you want advice and help to prepare you to be able to compete in multiple offer situations?
I would be delighted to help you! Send me a message, call or text, so we can chat! Even if you just need more information about a property, call or text me. You will always get experienced assistance, and no high pressure tactics ever. Promise!