I updated the individual city inventory on the SloWatch.com site – http://www.slowatch.com/inventory.htm
We have seen a significant drop of inventory compared to where we were at on November 1, 2007. Last year on this date we had 2312 properties on the market. Today, we have 1796 which is a 22.3% decrease.
Santa Maria/Orcutt had a 15.5% decrease, from 769 to 650 properties (homes/condos/PUDs).
The inventory dropped from last month in most cities too which you can see by the chart.
I haven’t updated the Months of Inventory yet as I still need to do the calculations and it’s getting pretty late. I’ll do those tomorrow (or I should say later today).