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Nipomo Luxury Foreclosure Real Estate Update

October 24, 2010
Luxury Homes on the Central Coast

Luxury Homes on the Central Coast

Nipomo Luxury Foreclosure Real Estate Update

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.

Tni LeBlanc, Mint Properties
(805) 878-9879, www.MintProperties.net

*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.

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