Monday Morning Numbers 5/2/11

Seen the news yet this morning? If you haven't, stop reading this and go turn it on. You'll be glad you did... Just make sure to come back later. Let's take a look at this morning's market stats:

Active Listings: 142

Contingent Listings: 33

Pending Listings: 55 (23.9% of the inventory)

New listings: 6

Months of inventory: 6.6
Click here for the updated price per square foot chart.

Our inventory is down a little this week, partly because it was a slower than usual week for new listings, and partly because we continued to see a slow increase in pending sales. I'll probably do an REO update in a couple of weeks, but I wanted to share something with you this morning before that. One of the numbers that I track regarding foreclosure activity is the number of unresolved trustee's sales in our area. I look at it at the end of every month, and at the end of April we had 105. That's the lowest that number has been in over two years. If that trend holds, it could be a very positive thing for our market.

I may not have time to get to a mid-week post this week, but if I do it'll be an update on South Vandenberg Village.