April 2024 Real Estate Market & News Update 🏠. Sellers are Coming Back to the Market! Active home listings in March advanced higher, up 31% as sellers come off the sidelines this home-buying season! Listing prices were up 4% from last year to $649,500, and homes that closed escrow were up 9% to $650,000! Right now, buyers have many more homes to choose from than they have for quite some time. Buyer competition for those homes is still there, as homes are still selling for more than list price, on average. The takeaway this month, it appears, is that market forces are trending in the right direction. Lately, we've had more listings, more new escrows, and more closings, all while 30-year rates have remained relatively stable in the upper-6% to 7% range. If rates go down another point to 6%, "prices are going to go through the roof" according to Barbara Corcoran. You can never predict, but that seems likely because there are a lot of buyers AND sellers who are waiting for that, and we could see a slurry of activity that could keep delivering record home prices on the Central Coast, while keeping buyers' mortgage payments relatively stable at a lower rate of 6%. Want to chat about your plans? Call me at (805) 363-6390 📞 Thank you for your continued referrals to friends & family! I enjoy being your trusted Realtor in this market. ____________________________ Key Findings in March: • The median listing price grew by 4% over last year to $649,500. • The median sales price was up 9% from last year to $650,000. • New listings--a measure of sellers putting homes up for sale--were up 31% from one year ago to 71 homes. • Active inventory increased by 17 homes to 60 homes. • Homes spent 21 days on the market--6 days more than this time last year. ____________________________ Mike Casaceli, J.D. Realtor, Broker Associate (805) 363-6390 📞 www.MikeCasaceli.com Bardi & Assoc. Real Estate Lic 01967805See more…

Sold!! 4397 Herado Drive, Guadalupe🏠 Congratulations to these wonderful first-time homebuyers on landing their almost-new, perfect home. With more homes on the market this year, we had a great time shopping and we were able to find THE ONE! 🛏 3 Bedrooms & 2 Bathrooms, 1,198 Sq. Ft, Built New in 2022 ____________________________ Mike Casaceli, J.D. Realtor, Broker Associate (805) 363-6390 📞 www.MikeCasaceli.com Bardi & Assoc. Real Estate Lic 01967805See more…

More Listings Are Selling Faster at Higher Prices! The market continues to heat up, and it's doing it without lower rates! In February, we had 1) more new listings hitting the market, 2) closing prices are up 12%, and 3) homes sold a week faster than last year! What else can we ask for? It's still an ideal seller's market as more homes are selling than hitting the market, reducing the inventory of homes available for sale. All this while rates remain relatively stable from the month prior. So, what's driving this increased activity? It looks like a lot of people who've sat out the last couple of years waiting for lower rates are jumping in and not waiting any longer. This is especially true for first-time buyers looking to settle down into their first home. And although market conditions are great for sellers, buyers seem to be enjoying the increase in new listings we've seen over the past few months, giving them more homes to choose from as they search for "the one." It continues to be a market where everyone can achieve what they're looking for with the right game plan! Thank you for your continued referrals to friends & family! I enjoy being your trusted Realtor in this market. If you're looking for help, call me at (805) 363-6390. ____________________________ Key Findings in February: • The median listing price grew by 10% over last year to $629,450. • The median sales price was up 12% from last year to $670,500. • New listings--a measure of sellers putting homes up for sale--were up 17% from one year ago to 54 homes. • Active inventory increased by 3 homes to 55 homes. • Homes spent 23 days on the market--7 days less than this time last year. ____________________________ Mike Casaceli, J.D. Realtor, Broker Associate (805) 363-6390 www.MikeCasaceli.com Bardi & Assoc. Real Estate Lic 01967805See more…