Lompoc Luxury Foreclosure Real Estate Update
Looking at the luxury real estate market in Lompoc California, there are currently 29 homes priced above $400,000 with an average list price of about $592,000 and 145 days on market, and a median asking price of $499,000. Looking at the luxury foreclosure market, there was only one active luxury foreclosure listing and there were 2 available short sales in Lompoc. However, the sold data from the last 6 months creates a different picture, of the 16 luxury home sales, 1 was a foreclosure sale, and 6 were short sales. So, luxury and estate home buyers in the Lompoc real estate market have an appetite for foreclosure and pre-foreclosure bargains.
Overall, of sold luxury homes, the average list price was $486,000, and the average selling price was $469,250. So, Lompoc luxury home sellers are getting about 96.5% of their asking price and about $161 per square foot. Looking just at luxury short sales, the average selling price was about $453,000 compared to an average asking price of $446,500. So, luxury short sales in Lompoc are being sold for close to their list price, indicating a competitive market for executive and luxury homes and real estate.
In the Lompoc Valley area, the executive and luxury home market includes developments such as Mesa Oaks, Village Country Club, Vandenberg Village, The Bluffs, and La Purisima Estates and Lane’s End.
*Based on the information from the Lompoc Valley 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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