The Market Has Thawed: Buyers Are Back, Prices Are Steady, and Patience Pays Off

A review of 642 San Lorenzo Valley real estate listings shows buyers returning, inventory expanding, and prices holding remarkably steady.

For this month’s analysis, I reviewed 642 residential listings throughout Boulder Creek, Ben Lomond, Brookdale, Felton, Mount Hermon, and Lompico from July 1, 2024 through June 2026. The results paint a picture of a market that is neither booming nor struggling, but rather settling into a healthier balance. Buyers are taking more time to make decisions, sellers are adjusting expectations, and inventory has expanded modestly. Yet despite longer marketing times and a more deliberate pace, home prices have remained remarkably stable across the San Lorenzo Valley.

Boulder Creek, Felton, and Ben Lomond continue to account for the majority of residential activity in the Valley, while Brookdale and Mount Hermon remain smaller but active segments of the market. 

Are Homes Still Selling? Absolutely.

Over the past year, I’ve noticed a subtle but important shift. Last year many listings seemed to sit quietly on the market with very little activity. This year feels different. Open house attendance is still modest, but buyers are showing up. Rather than the rush and urgency we experienced a few years ago, today’s market feels more like a steady drip of activity. Buyers are taking their time, doing their homework, and moving forward when a property aligns with their needs, budget, and insurance requirements.

For sellers, this means patience remains important. Multiple offers in the first week are no longer the norm for most properties. However, well-priced homes in good condition are attracting attention and ultimately finding buyers. The process simply takes longer than it did during the peak frenzy years.

Of the 642 residential listings reviewed, more than 87% have either sold or are currently under contract, leaving just 78 homes actively available for purchase at the time of this analysis.

3 major findings from the data:

• More Time → Days on Market increased from 40 to 52 days.
• More Choice → Inventory is higher and buyers have options.
• Steady Prices → Median price remained essentially unchanged at about $800,000.

What jumps out?

The most interesting finding is that prices have been remarkably stable.

Despite:

• Higher mortgage rates than the pandemic years,
• More buyer caution,
• Longer marketing times,

the median sale price only changed from $799,000 to $792,500. That’s essentially flat!

Buyers have returned, but the urgency has not. Insurance continues to be part of nearly every real estate conversation in the Valley. Buyers are spending more time investigating coverage options and factoring insurance costs into their budgets. While these additional considerations can slow decision-making, they have not stopped qualified buyers from moving forward when they find the right property. Homes are still selling, but buyers are taking longer to make decisions.

Average marketing time increased from about 40 days to 52 days, and median marketing time increased from 24 days to 28 days. Yet prices have held steady.

One statistic I’d also like to highlight:

• 282 sales in the prior 12 months
• 242 sales in the current 12 months

That’s only 40 fewer sales across the entire Valley, which is not a dramatic drop considering the economic uncertainty and interest-rate environment, not to mention our fire insurance woes.

If there is one takeaway from this year’s data, it is that the San Lorenzo Valley housing market appears to be returning to something that has been missing for several years: balance. Buyers have more choices and more time to make decisions. Sellers must be realistic about pricing and patient with the process. Yet despite higher insurance costs, economic uncertainty, and continued affordability challenges, people continue to choose the San Lorenzo Valley as a place to live.

The market may have thawed, but it has not cooled. It has simply settled into a steadier, more sustainable rhythm.