Monday Morning Numbers 11/15/10

Here we are again. Another Monday morning, another cup of coffee, and a fresh set of market stats to start off the week:

Active Listings: 118

Contingent Listings: 45

Pending Listings: 45 (21.6% of the inventory)

New listings: 6

Months of inventory: 6.4
Click here for the updated price per square foot chart.

The raw number of active listings dropped a fair bit this week, partly due to the fact that our new listing activity was a little slow. But look at that months of inventory number - it actually went up this week despite that decrease in active listings. How does that happen, you might ask? It's because we've had a slower sales over the past few months. For the uninitiated, the way I calculate that number is adding the total active and contingent inventory, then using three months of sales to calculate how long it would take us to sell all of those listings at our current sales rate. This week's number for 3 month sales is at it's lowest point since March. I expect that we'll start to see that increase a bit soon because we had an increase in pending listings a month or two ago. But then that settled back down, so it's not going to last for a long time.

Later this week I'll be updating activity in North Vandenberg Village.