Focus on North Lompoc

This week we're back around to taking a look at a market area, specifically the north side of the city. For a little background on the area, refer back to my first post on the area from a couple of years ago.

We've been gaining a little bit of inventory in this area in recent months. As of this afternoon, we have 14 active listings - 2 REO's, 6 short sales, and 6 traditional sellers. We also have 8 contingent listings, and as per usual they are dominated by short sales (7 of those and one REO).

Sales activity has slowed considerably since I last reported on the area back in September. We only have 4 pending units in the area (0 REO/1 SS/3 Trad), and we've had 7 sales in the past three months (2 REO/4 SS/1 Trad).

Because sales have dropped off as much as they have, it's a little difficult to nail down a price trend. On a pretty small sample, it would seem that we're seeing a slight decline in prices in the area.

Next week I'll get out an update on foreclosure activity in our market.