Focus On North Lompoc

We're continuing our series of area updates this week, with a refreshed look at activity in the north end of Lompoc. I first posted on this area back in April, so go check out that post for a definition of the area.

Like most areas in town, the north side of town is thin on inventory. We only have 6 active listings here today, and all but one are distressed sales (2 REO's and 3 short sales). In addition, we have 20 contingent listings (4 REO's and 15 short sales). We also have 9 pending units in the area (5 REO's and 2 short sales). This is just crazy, upside down stuff. We've had a bit more inventory under contract than active for a few months, but we're looking at almost a 5-1 ratio here.

Sales activity has been pretty steady here, with 16 sold units in the past three months. Of those, 8 were REO's, and 3 were short sales. When I looked at this area a few months ago, almost all the sales were REO's. That was kid of a fluke, and these numbers look a little closer to what we see in the market as a whole.

Looking at the sales in the area, it appears that we're tracking pretty closely to the market trend of flat prices this year for most areas. In fact, on an admittedly very small sample size, it appears that we may be seeing some increase in values here in some segments, but let's not get too excited yet. When you deal with numbers this small, strange things can happen.

See you next week when I cover... Well, I'll figure that out next week.