Santa Cruz Mountains Housing Market Update
Sellers
Sellers
If you live in the San Lorenzo Valley of the Santa Cruz Mountains and are curious about the housing market, listen up. March 2023’s market data might seem a little bleak, but we do have good news, so read until the end.
March 2023 in the San Lorenzo Valley, we saw 20 homes close, 11 went Pending/Contingent, and 12 New homes came on the market for sale. By contrast in March of 2022, 28 homes closed but ZERO new homes were put up for sale and ZERO homes went Pending.
We are seeing an increase of homes listed on the market, which means there are buyers ready, willing and able to buy!
Boulder Creek, Mount Hermon and Lompico/Zayante homes that closed last month sold above asking on average and though homes in Ben Lomond and Greater Felton sold just under asking on average, 6 homes in Ben Lomond and 4 in Greater Felton, still sold!
Though we are tempted to, we shouldn’t compare year over year data. March 2022 we were just at the peak of the market and we were beginning to see housing prices fall again. The War on Ukraine had started and the world economy was beginning to feel it. So don’t be discouraged when you look at prices from last year to this year. It is like comparing apples to oranges.
So what is the good news?
In the San Lorenzo Valley, collectively, the 20 homes that sold over asking price. The Santa Cruz Mountains, despite the effects from the storms, are still a very desirable place for people to live. There are ready, willing and able buyers!
So if you have been thinking about selling your home, or you are interested in buying a home in the mountains, please reach out. We would love to help you in your journey!
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All three Designated Areas are currently already at capacity, with waitlists for new permits.
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Based on the latest Realtors® Confidence Index from the National Association of Realtors® (NAR).
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