Focus on Country Club & Mesa Oaks

This week we're updating activity in our two traditional high end neighborhoods, Mesa Oaks and the Country Club. For a little background on these areas and a description of the homes included, go back and check out my first post on them from a couple of years ago.

It's kind of funny - last time I reported on these areas I noted that it appeared that we had some increasing inventory despite an overall market trend to lower inventory. This time around, we've switched that. Now we have a somewhat decreasing inventory level despite an overall market trend to increasing inventory. As of this afternoon we have 11 active units on the market. Distressed properties aren't a big chunk of that at the moment with no active REO listings (although one did just expire and will probably come back soon) and only 3 short sales, leaving us with 8 traditional sellers on the market.

Sales activity has been a bit better than it was last time I reported on the area. We only have one contingent sale at the moment - an REO. There are 4 pending sales, one of which is an REO and the other 3 traditional sales. We've had 6 sales in the area over the past three months, and this time it looks like we're a little heavier on distressed properties (3 REO/1 SS/2 Trad). Comparing the past three months with the previous three months, it appears that we've been pretty flat in prices, but that's based on a pretty small sample size.

Next week I'm thinking I'll have to get outside the box and come up with something new to write about. I'm just not sure what that's going to be yet. You'll find out when I do, I guess.