Arroyo Grande, CA Market Report, 12/11: Stagnant

Arroyo Grande is stagnant right now. Prices are drifting downward (bumping along the bottom, as a colleague says), inventory is still rather high (indicating more of a buyers' market), and average sold price has dropped quite a bit. It seems that there is still a lot of inventory to be absorbed, and sellers still are not pricing their homes to move. It may be another six months before this South County community picks up in sales and inventories drop.