Thursday, July 24, 2008

Santa Maria & Lompoc Property Sales In June

The North part of Santa Barbara County has been experiencing what I would call a bit of a recovery regarding the number of homes and condos that have been selling. In June the number of transfers for Lompoc and Santa Maria hit a total of 191 transactions.

Santa Maria has been showing the most improvement in the last few months. In March there were 87 transactions. In April, May, & June there have been 134,137,& 141 respectively.

June's number of 141 is the highest number on the chart except for December of 2005 which hit 156. Once again in reviewing the transfers there were many bank owned properties that were purchased.

This trend continues to be good in my opinion since it will continue to take some time to get that inventory off the market. The foreclosures seem to just keep on coming, but if the banks have figured out the price point to get them sold then that is a big piece of the puzzle.

In Lompoc June was almost as good as the previous month. April had 51 transactions and June had 50. Not too bad when you consider that late last year the number of transactions was in the 20's.

Lompoc has seen a steady increase in the number of transactions this year. I'm not sure how long it will continue, but a steady increase is much better than the alternative.

My guess is that these increases are signs of a market that is in recovery as well as some normal seasonal increases. The spring and summer are usually the months where homes are sold and people move in to their new places.

Stay Tuned!

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