Is Lompoc, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lompoc is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Lompoc has remained a Seller's Market.

Key Takeaway

Lompoc is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lompoc, CA

How much do homes in Lompoc, CA cost?

Median Sold Price

$589,000

$375/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,000(+2.4%)

Key Takeaway

Homes in Lompoc have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Lompoc was $589,000 in October 2024, up 2.4% from last year, and the median price per square foot was $375.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $752.5K$330K
-56.1%
2 $350K$380K
+8.6%
3 $552K$600K
+8.7%
4 $617.5K$655K
+6.1%
5+ $857.5K$882.5K
+2.9%

Summary: Lompoc housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56.1%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 2.9%.

Housing Supply in Lompoc, CA

How many homes are available in Lompoc, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5846-20.7%

Summary: The Lompoc real estate market had 46 homes for sale in October 2024, a 20.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 74
-42.9%
3 3224
-25.0%
4 1111
0.0%
5+ 76
-14.3%

Summary: The Lompoc housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2416-33.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lompoc, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in Lompoc in October 2024, down by 33.3% month-over-month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.

Days on Market for Lompoc, CA

How long does it take to sell a home in Lompoc, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
57 Days21 Days-62.1%

Summary: Homes in Lompoc had an average of 21 days on market in Oct 2024, down by 62.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lompoc are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in Lompoc; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

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