Oceano Foreclosure Market Update & Free MLS Search

Oceano is one of California’s true beach towns. It is not saturated with deliberate commercialism, yet still sports cutesy names like Beach, Ocean and Surf Ave on its streets. Off the beaten path of Highway 101, Oceano instead straddles the scenic route, Highway 1. Known for the Oceano Dunes, a sand dune area of the coastline preserved for off road vehicle recreation and exploration, Oceano attracts many from the inland areas who seek to beat the heat.

Oceano offers a variety of housing, from a beach cottage to stash your boogie board and dune buggy starting at around $190,000 to a custom beach home offering panoramic ocean views at $1.6 million. And like the surrounding southern San Luis Obispo county communities of Nipomo & Grover Beach, home prices in Oceano have plummeted due to the housing bust. Prices for condos now begin at around $180,000; the median asking price for residential dwellings is $369,000.

Currently there are about 59 active listings; almost 20% of the active market could be categorized as foreclosure, with 6 bank owned (REO) listings, and 5 short sales (also referred to as pre-foreclosures). However, the sold statistics tell a more complete story. Of the 4 homes sold in Oceano since December 1st, 3 were REOs; the only sold that was not a foreclosure was a manufactured home. The median price of the sold listings was just under $300,000. It is quite evident that foreclosures are dominating the activity in the Oceano market and setting the price trends.

If you are in the market for a vacation home in Oceano or Grover Beach, you can search the local MLS for free on my website CentralCoastRealEstateSearch.com, and also conduct a map based search on my site iLoveGroverBeach.com. Or, if you send me an email at tni@MintProp.com, I’ll simply send you a list of beach home foreclosures.

Tni LeBlanc, JD, M.A., e-PRO
Owner/Broker, Mint Properties
(805) 878-9879, tni@mintprop.com
www.MintProp.com
www.iLoveGroverBeach.com
www.SellMyGroverBeachHome.com
www.CentralCoastRealEstateSearch.com

*Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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.