Arroyo Grande & Grover Beach Real Estate Market Update

As reported by the Santa Maria Times, Grover Beach has its first four story building. Oceanview Terrace located at 178 S. Fourth Street is a mixed use property which contains both commercial and residential units. The contractor for the project, Ron Perkins, believes this building is a step in the direction of revitalizing Grover Beach; it replaced an old dilapidated house. Perkins was one of the participants in the 2004 Grover Beach Visioning Project, which set out to revitalize some of the city’s older neighborhoods.

Now onto the Arroyo Grande real estate market update. My last snaphot of this area was taken on May 9, 2007. There was slight increase in active listings from 306 to 313. There are currently 77 homes under contract as pending or contingent. In the last 30 days, there was a slight decrease in the number of new listings from 77 down to 74, a slight increase in the number of expired listings from 15 up to 21, and an increase in the number of sold homes from 35 to 40. The median price for a sold home during that period was about $559,000. Selling at around that price ($565,000) was this 3 bedroom, 2 bath, 1500 square foot home on a 9,000 square foot lot within walking distance of the Village of Arroyo Grande area.

Next up is the Grover Beach real estate market update. The number of active listings and homes under contract remains essentially flat at 100 listed homes, and 13 contracted homes. The previous figures were 101 and 14 respectively. In the last month, there were 34 new listings, 11 expired listings, and 11 homes sales. The median price for a home sold during that period was $495,000. That would have purchased this 3 bedroom, 2 bath, 1500 square foot home on a 6000 square foot lot. It was built in 2003 and within walking distance of a family park.

Remember to contact Mint Properties for all your Central Coast real estate needs. I would love to assist you in taking advantage of recent market conditions. Please contact my office today at (805) 938-9950. Also, feel free to search for Central Coast properties on my website.

*Based on the information from the Central Coast Regional MLS for the 30 days prior to this posting, May 19, 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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