Focus On Central Lompoc

This week we're back into looking at a neighborhood, and we're back around to Central Lompoc. For some background on the area, take a look at my first post on the area from a couple of years ago. Good grief, have I been writing this blog for two years now?

We have an interesting mix of numbers here this time around. We have 20 active listings on the market this afternoon, and unlike what I've been reporting for the area in the past, only 4 of these are REO's. 7 are short sales, and 9 are non-distressed. We do have 9 contingent sales in the area, and all of those are distressed (1 REO/8 SS).

Sales were slow for a while here, but appear to be picking back up. We have 13 pending sales now (4 REO/4 SS/5 Trad), again pointing to a little bit of a slowdown in distressed property activity here. But over the past three months, we've only had 13 total sales (8 REO/3 SS/2 Trad).

It would appear from the sold units in the past three months that we're seeing a little bit of a decline in values. But some of that is due to a lower overall level of sales than we've typically been seeing here and a higher percentage of REO sales over those three months. We sold just about half as many units here in the past three months as we sold in the previous three months, and any time you get a spike in the REO percentage of sales, you're almost bound to see some decline in values. On the other hand, with a lower percentage of our current active and pending listings being REO's I would expect to see some rebound in values a few months from now.

I still haven't figured out next week's topic, but I'm sure I'll come up with something between now and then. See you here next week.