Focus on Central Lompoc

This week we're taking a look at what is probably our largest and most active area in our market, the central part of Lompoc proper. For a description of the area and some background, check out my first post on central Lompoc from last year.

Because this is such a large and active part of the market, activity here is one of the big drivers for our market as a whole. And this has been a very active area, and it appears that the news here is good. We have 24 active units on the market this afternoon. 9 of these are REO's, 5 are short sales, and 10 are traditional sellers. If you've been reading this blog for the past several weeks, you know that we are starting to see more traditional sellers in our market, and this is a good indication of that.

Sales have been steady here, with 7 contingent listings (2 REO/4 SS/1 Trad) and 17 pending sales (6 REO/3 SS/8 Trad). We've had 28 sold units in the area over the past three months. The mix here is a little heavier on REO's than the market as a whole (19 REO/2 SS/7 Trad).

Despite the fact that REO's have dominated sales in the area for the past few months, we are seeing what appears to be some price appreciation in the area. We're dealing with somewhat larger numbers here than we were last week when I looked at the Southside. Still, it's a pretty small data set, but the numbers do look promising. When I use my normal method of extracting the 1960 tract homes out of the sold units here, it looks like the median for sold units over the past three months is up about 3% from the previous three month period. And the price per square foot for these units is up about 7.5%. All very good numbers, and a good sign for our market.

Next week we'll just keep it rolling, and I'll move up the map to the north end of town.