Monday Morning Numbers 4/27/09

Good morning - time once again for our weekly look at market stats:

Active Listings: 100
Contingent Listings: 37
Pending Listings: 43 (23.9% of the inventory)
Price changes for the past week: 7 (5.1%)
Click here for the up to date price per square foot chart.

That dip in our active listings last week might have been a short term thing, but we'll have to keep an eye on it. After seeing our pending listings drop off for several weeks, we've started to see a rebound in recent weeks. Buyer activity remains strong, and multiple offers are more and more common on well priced properties. We have about 5.6 months of inventory on the market this morning.

I haven't done this for a little while - let's take a quick look at the makeup of our combined active and contingent inventory. 26 of the listings (19%) are REO's. This is a bit lower than the 20-25% that we've usually seen. This is probably because these listings tend to be priced aggressively and they don't stay on the market for long. 64 0f our listings are short sales (46.7%). These make up the bulk of our contingent listings - 28 of the 37 contingent listings are short sales. This isn't surprising, these tend to sit in a contingent status for a long time while they await lien holder approval. For instance, we have a buyer who has been working on a short sale for a little over two months, and we just got approvals on it last week and it went into pending status.

Come back later in the week for a look at North Lompoc activity.