Monday Morning Numbers 6/22/09

Good morning! I hope everyone had a good Father's Day yesterday. I had a good long conversation with my dad back in Illinois yesterday - but then, there are no short conversations with my dad. Let's take a look at this week's numbers:

Active Listings: 83
Contingent Listings: 36
Pending Listings: 70 (37.0% of the inventory)
Price changes for the past week: 9 (7.6%)
New listings: 11
Click here for the up to date price per square foot chart.

Note that this week, I've added a category for new listings.

At least for this week, we have a break in the recent trend of shrinking inventory, we're up slightly over last week. Our contingent listings are down a bit, and pending listings continue to climb. Percentage-wise, this is the highest we've seen pendings since I started tracking these numbers. We have 5.0 months of inventory on the market this morning.

I think we might have hit a low point in inventory for now. In tracking the foreclosure front, we're starting to see a few more properties go back to the bank over the past couple of weeks. We're up to around 65 properties that have been taken back by the banks and not yet listed. We also have around 120 unresolved trustee sales, which has been steadily building. I doubt that this is going to translate to a big spike in inventory, because most of these properties aren't going to stay on the market for very long when they come on. But I do think that we're heading into a stabilization mode in our inventory level, and we'll likely see an increase in active listings up to the 90-100 level in the next couple of months.

Come back later this week, and I'll update South Vandenberg Village for you.