2009 Pismo Beach Real Estate and Foreclosure Market Update

The Pier at Pismo Beach, CA

Trying to beat the heat? Looking for a vacation home in Pismo Beach CA? It is a great time to pick up a beach getaway on the central coast — prices are down and there are more opportunities to buy a Pismo Beach foreclosure property. The number of homes reported sold in Pismo Beach in 2009 was down 14% compared to 2008, and the average sales price is also down 10%. The number of foreclosure sales (REOs) tripled from the previous year. In 2008, there were only 4 REO sales in Pismo Beach, and in 2009 there were 12 foreclosure sales. The number of successfully closed short sales also shot up from only one in 2008 to 9 in 2009.

In 2009, there were 83 homes reported sold in Pismo Beach, and in 2008 there were 97 sales. 69 homes were sold, and 14 condos/PUDs. The average selling price of the homes/condos was $758,000 with 117 DOM at $430 per square foot. Looking just at condos/PUDs, the average was $610,000 at $422 per square foot. And, for just homes in Pismo Beach the average was $788,000 at $432 per square foot. In 2008, the average sale was $848,000 with 112 days days on market and $449 per square foot paid. The average price of foreclosures sold was $763,000 with 96 days on market and $384 per square foot paid. Short sale average was somewhat lower at $755,000 with 284 days on market and $407 per square foot paid.

If you would like a list of available Pismo Beach or Shell Beach homes and condos, please send me an email at tni@MintProp.com. If you would like a list of bank owned (REO) beach property in the Pismo Beach area please indicate that in your email, or give me a buzz at (805) 878-9879 and I will set up email alerts for you so you know exactly when these properties hit the market. You can also visit one of my websites to search for Pismo Beach property: CentralCoastRealEstateSearch.com, or iLoveFiveCities.com.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com

*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or 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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