Arroyo Grande & Grover Beach Real Estate Market Update

The Santa Maria Times reports that homeowners in the Los Cabos subdivision are facing losing their homes so that soil remediation can be completed by Conoco Phillips. According to the article, also affected by past and current soil remediation projects were some homes in the Sunrise Hills development, Park Villas II and the Toby Ranch subdivision. The problems stem from a failure to remove sumps, the pits dug next to oil wells and used to collect crude oil and debris. This problem is part of the legacy of Santa Maria’s oil industry beginnings. Oil companies are purchasing back some of the affected homes.

Now onto the Arroyo Grande real estate market update. My last snapshot of this area was on April 11, 2007. Not much change in this market. There was an increase in the number of homes listed in the past 30 days, it was 62 at my last look, and currently there are 70 newly listed homes. The most expensive listing was a 4 bedroom, 5 bath 5500 sq.ft. privately gated home on 3.1 professionally landscaped acres. Overall, there was a slight increase in the number of homes on the market at 294 compared to 289 at my last glance. There are currently 77 homes under contract as pending or contingent. In the past 30 days, there were 28 homes sold, and 16 listings that expired.

The Grover Beach market is experiencing an increase in inventory. My snapshot of March 28, 2007 indicated that 75 homes were on the market. Todays’ snapshot shows 97 homes for sale, so that is about a 29 percent increase in a little over 30 days. That’s definitely something to watch. There was an increase in new listings as well, with 38 homes listed in the past 30 days, compared to 23 on March 28th. The most expensive home listed was a 4 bedroom 3 bath 2861 sq.ft. home on a 5847 sq. ft. lot which boasts Avila Beach and Oceano Dunes views. Currently, there are 13 homes that are pending or contingent in that area. In the last month, there was a slight increase in the number of homes sold: 17 homes, compared to 13 on the March 28th snapshot. Also, a total of 11 listings expired during that same period.

Remember Mint Properties can help you with any of your real estate needs. Contact me at (805) 938-9950 for all of your real estate needs. I’ll be happy to help you find your ideal property.

*Based on the information from the Central Coast Regional MLS for the 30 days prior to this posting, April 30, 2007. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.

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