What actually happened with that 17%
When the average sold price climbs that fast in 30 days, most people assume prices are climbing too. But what usually changed is the mix of homes that closed. This month, more higher-priced properties sold. Last month, the closings skewed lower. The homes themselves didn't necessarily gain value. The composition of what sold simply shifted.
This is called a mix shift, and it's one of the most misunderstood things in real estate data. A few extra high-end closings can pull the average way up, even in a flat or softening market.
The numbers worth paying attention to
If you want a clearer read on the Salida market, look past the headline average and at these instead:
Price per square foot is far more telling, because it accounts for the size of what sold. Right now ours sits at $471, down slightly.
Days on market shows how competitive things are. We're at 100 days, which says buyers have a bit more breathing room than the average price might suggest.
The sold-to-listed ratio tells you what share of listings are actually closing. Right now that's 26 out of 39.
Put those three together and you get a much more honest picture than any single headline number can give you.
