In 2008, a total of 276 homes and condos sold in Arroyo Grande, CA. 243 were single family homes, and 33 were condos or in planned unit developments. Average home price was approximately $648,000, $331 per sq ft., and sold after 130 days on market. 54 of the sales were bank owned properties (REOs), and 10 were closed short sales. So, a significant amount of sold listings (a little over 20%) were foreclosure related.
The lowest resale home price was a 2 bedroom, 2 bath, bank owned twin home in an age restricted community that was 1064 sq. ft. and sold for $190,000. $650,000 would have purchased a new 3 bedroom, 4 bath, 2330 sq. ft. lakeside home with granite countertops and a golf cart bay in the gated golf course community of Cypress Ridge.
The average price for condos and PUDs was about $320,000, $276 per square foot, with 91 days on market. The lowest priced resale was a 1 bedroom, 1 bath, REO (bank owned property) condo unit on Brisco which stayed on the market for 222 days and finally sold for $154,500. $330,000 would have purchase a 3 bedroom 2.5 bath townhome with 1589 sq.ft. and an attached 2 car garage; that listing sold after 56 days on market.
If you would like a list of golf course, REO (bank owned), condo, or short sale properties in the Arroyo Grande area, send an email request to me at tni@mintprop.com. Or search the MLS on my websites: www.iLoveFiveCities.com (map based search), or www.CentralCoastRealEstateSearch.com. If you are considering selling and would like a list of nearby sold properties for comparison, send me a request at www.SellMyArroyoGrandeHome.com. If you have questions about a specific property, or would like to set up an appointment to consult about a possible short sale of your property, I can be reached at (805) 878-9879.
Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
www.iLoveFiveCities.com
www.SellMyArroyoGrandeHome.com
www.CentralCoastRealEstateSearch.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.
