Hello, hello! It's that maddening time of year when the weather swings back and forth bringing the hope of sunny days  dashed by gloomy, rainy, windy days. Although rain is the death knell of mountain biking (ruins the trails), ultra marathon trail running is in full swing with the Salmon Falls 50k on February 28. Am I participating you ask? You'll have to read the next newsletter to find out. 🙂 

Over the past two weeks, we have seen the following: 

• Twenty new listings (15 in the past five days).

• Eight have already gone pending.

• Median list price $824k (average $798k). 

• Thirteen listings went pending.

• Eight were new to market but two had been on market more than eight months. 

• Median pending price $969,000 (average $1.155m).

• Seven of the pending listings received multiple offers - including four on Morro Bay (somewhat predictable) and four for Albany Circle. 

• Six listings closed escrow.

• Median closed price $812,000 (average $814,000). 

• Two closings received multiple offers, including four on College Park (a project).  

• One closing was cash and the remainder were conventional financing.

Just a side note, there were five listings we did not include in the active listings. We didn't include them is because they are "new construction" but not actually completed. I think these impact the data and give an erroneous impression. If you disagree, please let us know! Open to other perspectives.

The next newsletter will be sent your way March 5th. To view the Refresh Newsletter featuring neighboring communities, simply click the corresponding image at the bottom of this email.