Good morning! I've lived in California for 27 years this month now, and in all that time, I'd never been to Sacramento. It was a much prettier town than I thought it would be, and I was lucky that we had some decent weather - I'm told that it can be miserably hot this time of year. But I'm glad to be back home - I'm really not much of a road warrior. Let's take a look at this week's market numbers:
Active Listings: 81
Contingent Listings: 44
Pending Listings: 65 (34.2% of the inventory)
Price changes for the past week: 6 (4.8%)
Click here for the up to date price per square foot chart.
The number of active listings continues to plummet this week, and we still have a lot of contingent and pending units out there. We're at about 5.7 months of inventory this morning. I expect to see that number drop over the next several weeks as we see some of those pending listings turn into sold units. We've had a slower 2nd quarter in terms of sold units, but I think that's more a function of limited inventory than of decreased demand.
Later this week I'm going back for an updated look at North Vandenberg Village activity.
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