Focus On North Lompoc

This week we're back to a neighborhood focus, with a look at what's been happening on the north side of town. For an explanation of the geography of the area and types of homes we are covering here, take a look at my first post on the area from last year.

We're fairly light on inventory in the area at the moment, with 10 active listings (1 REO/6 short sales/3 traditional). That's down a bit from the last time I reported on the area back in May despite a trend to higher inventory levels in our overall market. We also have 7 contingent sales in the area (2 REO/8 SS).

Sales activity has slowed slightly since the last update, but it's still pretty good. We have 9 pending units in the area this afternoon (3 REO/2 SS/4 trad), and we've had 13 sales in the past three months (5 REO/2 SS/6 trad). The activity that we're seeing here seems to be pointing towards a lower level of distressed sales.

This is probably one of the hardest areas to really get your arms around in terms of price trends. Because we have a pretty broad range of ages and sizes of homes, we usually don't have enough of any one type of home to really peg a trend. The fact that we have a lower level of distressed sales in the area is probably helping values in the area, but there just aren't enough sales to say for sure.

Next week I'll have my regular Monday Morning Numbers post, but I probably won't have a mid-week update on anything. I'm off to Anaheim for the C.A.R. fall meetings for most of the week. Big fun.