Focus on South Vandenberg Village

This week we're taking a look at the market for houses in South Vandenberg Village. As a reminder, when I cover this neighborhood I'm not including condos or the newer homes in Providence Landing. I cover those separately. For a little background on the area, go back to my first post on the area from 2009.

For what seems like a very long time, I had almost nothing in this area to report. We had very little activity of any nature here for over a year. I'm not sure why that was, but there weren't a lot of listings here, which of course means not many sales. It appears that might be changing, and we have a little bit more activity there now.

We have 7 active listings on the market up there this morning. Only one of them is an REO, and there are 3 each short sales and non-distressed listings. That's still not a ton of inventory, but last year there were times when I reported on this area and only had one or two listings.

Sales activity has been pretty much what we would expect for the level of inventory based on our market norms. We have 2 contingent sales in the area (1 REO/1 SS) and 3 pending sales (2 SS/1 non-distressed). Over the past three months, we've had 4 sales in the area (3 REO/1 non-distressed). There really aren't enough data points here to identify a price trend, but since 3 of the four sales were REO's I would expect that the trend has been somewhat down.

Next week I'll update foreclosure activity in our market.