Housing Market in Review
By Gina Carling
The San Lorenzo Valley housing market was huge this past year! Over $206 million went into the pockets of SLV folks selling their homes. Yes, even with the dampening effect of rising interest rates, the market was active and buyers were buying.
To be fair, currently buyers have the least amount of choices than they had all last year. December saw only 9 new listings — the lowest number than any other month of the year. Given holiday pressures that should not be surprising. Peak months for 2023 for new listings were May and June, each having 56 new listings. July through October were also strong with new listings in the 30s.
Making the market attractive for sellers was the value their properties were achieving. The average SLV list price started the year low, relatively speaking, at $709k. It hit peaks in March and November of over $950k, and December ended at $824k. Sales to list price held steady staying over 97% throughout the year, getting as high as an average over 103% in June.
Over the course of last year, Ben Lomond achieved the highest sales price average for single family homes at over $991k. Felton single family homes did well too hitting an average of $907k. Size does matter, however, as the Ben Lomond homes were bigger than the Felton offerings, though Felton came out ahead in value and the price per square foot. Felton home sales averaged $651 per square foot, where Ben Lomond home sales averaged $636 per square foot. Other SLV areas were not far behind with Lompico/Zayante and Boulder Creek in the high 500s, and Brookdale in the low 500s per square foot.
Boulder Creek was indisputably the most active area in the San Lorenzo Valley. With over $88 million in single home sales in 2023, it also saw the most homes launch onto the market. Boulder Creek had 112 home sale closes, more than double the next two SLV communities combined: Ben Lomond with 54 and Felton with 44. It also had 159 new listings in 2023 while Ben Lomond had 86 and Felton had 52.
How Long to Sell?
One concern most prospective sellers have is the question of how long it will take to sell their home.
Across all of SLV, for 2023 the answer was “just over a month.” Even with a preponderance of more volume, relatively speaking, it did not take a seller in Boulder Creek longer to sell than elsewhere in the valley. The “quickest” sales came in Ben Lomond with an average days to sell of 30 days and Lompico/Zayante of 32 days. Brookdale sales took the longest, but you could almost measure that by hours, as their average days to sell was only 38 days. They were followed closely by Boulder Creek at 37 days and Felton at 36.
For new buyers wanting to locate to the San Lorenzo Valley, and for those wanting to sell to make room for them, 2024 should be an equally strong year. Buyers and sellers can look forward to positive experiences as they complete their New Year’s resolutions and decide to make their real estate moves. We all know that SLV isn’t just a place to visit; it’s a place to call home. It’s a haven for those seeking nature’s beauty and a connection to something bigger than themselves. SLV is a place where community spirit lingers.
Gina Carling has been a Santa Cruz County resident since 1970. She is a Realtor with David Lyng Real Estate. Gina lives in Felton with her family and is active in the community. Learn more about Gina and view her listings at ginacarling.com.
Featured photo: 152 Montclair Drive, Santa Cruz
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