2010 Snapshot – Arroyo Grande Foreclosure Market

Wondering what the market for home and condo foreclosures is like in Arroyo Grande?  Here is your market snap shot answer:

Shops in the Old Town Arroyo Grande Village

Arroyo Grande, California foreclosure activity:  There are 233 active and pending homes and condos in the city of Arroyo Grande.  Of those 233 properties, 28 homes are foreclosures (12%) and 45 are short sales (19.3%).  Looking back six months, there have been 153  sales in Arroyo Grande  with an average listing price of $559, 854 and an average selling price of $534,838, so sellers are getting about 95.5% of their asking prices in Arroyo Grande indicating that there is some bargaining room for buyers in the Arroyo Grande market.   Average days on market were a little over three months, at 101 days with $243 per square foot paid. 

Of the 153 property sales in the past six months, 24 were foreclosures (15.6%) and 24 were short sales (15.6%).   So, about one third of the sold homes and condos in Arroyo Grande were either a foreclosure or a distress sale.  Looking at sold foreclosures, the average selling price is much lower than the average for Arroyo Grande at $416,417 and $192 per square foot paid with 61 days on the market.  It appears that the majority of the foreclosure activity in Arroyo Grande is at the lower end of the.  Bank owned properties are selling for 96.9% of their asking prices; short sales are selling for a significantly higher average of $471,879 with 235 days on market at $218 per square foot paid, and they are similarly selling for 96.6% of their asking prices. 

Wondering how to get the most for your home in a foreclosure driven market?  Already tried to sell your home and failed?  Call Mint Properties today for a consultation to get your home sold today. (805) 878-9879.  If you are searching for foreclosures in the central coast area, feel free to search on my websites: www.iLovetheCentralCoast.com and www.CentralCoastRealEstateSearch.com

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

*Based on the information from the Central Coast Regional MLS. 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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