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River Oaks Community Market Snapshot 8/7/08

By
Real Estate Agent with Keller Williams Realty Central Coast ~ Pismo Beach CalBRE# 01502962

River Oaks is a community located northeast Santa Maria near Hwy 101 and north of Donovan Road.  The community boasts 400 plus homes built between 2000 and 2003.  This thriving community borders the Santa Maria River and offers a local park, elementary school, walking trails, a lake, close proximately to Marion Medical Center, Allan Hancock College, shopping and easy freeway access.  As of 8/7/08, list prices of active homes range from $265,000 to $589,000.  

River Oaks has not been immune to the market slowdown and  the information gathered is gathered from the central coast MLS as of 8/7/08:

As of 8/7/08, a look at active, canceled, pending, and sold properties in Riveroaks.

  • Active listings (currently on the market) 22 homes.  Average price $329,373, Average days on the market 127, Average square footage 2,084, Average price per square footage $161.64.

 

  • Canceled properties(total canceled listing since 1/1/08) 44 homes. Average days on the market 30 days.  Original price averages $495,159.  Average list price $472,475.  

 

  • Pending (listing in contract as of 8/7/08) 4 homes.  Day on market 121, Original price average $335,800.  List Price average $314,500, average square footage 1,873. 

 

  • Sold (total sold since 1/1/08) 17 homes.  Average sold price $344,235.  Average list price $348,047   98.90% SP% to LP%.  Average days on market 69.  Interpretation: Sold price is the best indicator of what the market(consumer) is willing to pay and the magic number agents use to determine the current market value of a home based on averages comparable properties. 

 

I welcome the opportunity to help you purchase or sell in this community.   As a free service, with no obligation, I am happy to email you property information gathered from an automatic property search based on your desired specification.  My email address is cesarbautista@kw.com or call me at 805.264.1646.  cesarbautista.com.  Thanks, Cesar    

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