Focus On North Vandenberg Village

We're circling back around again on the neighborhood focus posts for the first time this week. I'll start where I started originally, in North Vandenberg Village back in late February. If you'd like to revisit that post and get a feel for the area, you can see it here. Remember that when I run these reports, I don't include condos - those are covered in their own report (next week, if all goes according to plan).

As of today, we have a little less inventory in North Village than we did when I first reported on it, as is true for the entire Lompoc Valley. There are 7 active listings up there now. Only one of those is an REO listing, and 3 are short sales. It looks like maybe only one of those was on the market when I reported on the area in February, so we're seeing the inventory turn over up there.

We have six pending sales. Of those six, two are REO's and one is a short sale. Interestingly, with all of the contingent listings that we have out there, none are in this area. That doesn't mean much, really. Just an oddity.

We've had six sales in the area in the past three months. Of those, one was an REO and two were short sales. Looking at these sales compared to what sold early this year and late last year, it looks like prices have been virtually flat there for a little while now. I think that's pretty much the trend throughout our market right now.

As I reported back in February, this area has held its value during the decline a little better than the market as a whole. This is due in part to a lesser degree of distressed sales than the rest of the area, and also due in part to this being one of the more desirable areas in the Lompoc Valley that is still affordable to first time home buyers. I don't see that changing anytime soon.