Thursday, August 16, 2007

Santa Maria and Lompoc July Stats

July 2006 saw Santa Maria and Lompoc have a total of 179 transactions. July 2007 was not as kind when it came to the number of transactions, which totalled 132. Those 2 markets which make up the majority of the north county sales have just not started turning around like the markets in the south county are doing. By that I mean the number of transactions happening in the south county have beaten last years numbers pretty consistently. I have not really analyzed the numbers closely but I can tell you when I am talking to people that work in the north county the credit crunch is really hitting that area hard. A large percentage (I'm told 20%) of the transactions are bank owned properties that are being purchased. This is certainly causing prices to adjust and doesn't bode well for how this year is going to end up. If the south county is truly in an upward trend I would think that by at least early next year the north county should start showing signs of improvement. Take a look at the charts and make your own conclusions.

No comments: