Looking at the luxury real estate market in Nipomo California, there are currently 37 homes priced above $600,000 with an average list price of about $1,066,000 and 191 days on market, and a median asking price of $749,000. Looking at the Nipomo luxury foreclosure market, there were no active luxury foreclosure listings and there was one available short sale in Nipomo. However, the sold data from the last 6 months creates a different picture, of the 19 Nipomo luxury home sales, 3 were foreclosure sales, and 2 were short sales. So, luxury and estate home buyers in the Nipomo real estate market also have an appetite for foreclosure and pre-foreclosure bargains.
Overall, of sold luxury homes, the average list price was $784,114, and the average selling price was $762,615. So, Nipomo luxury home sellers are getting about 97.26% of their asking price and about $264 per square foot. In the Nipomo Valley area, the executive and luxury home market includes developments such as Blacklake, Greg Nester’s Vista Roble, Mesa Meadows, Monarch Dunes Trilogy, Rancho Nipomo, Knollwood, and Hidden Hills.
*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.
There were 18 sales reported on the local MLS in Avila Beach in 2008. The lowest re-sale was a $300,000 manufactured home in Indian Hills, an age restricted park in San Luis Bay Estates. The monthly association dues on that 38 year old unit is about $285. The most expensive home sold during that time period was a 2 bedroom, 3 bath, 2800 square foot home in San Luis Bay Estates which sold for $2.3 million. The average price was $763,500, with an average days on market of about 4 months, and selling for abut 97.4% of list price, for about $07 per square foot.
Short sales are popping up all over the Central Coast of CA due to the recent housing boom/bust. Many buyers are interested in these properties because they offer the possibility of today's prices with less competition from other buyers.
