Santa Lucia Preserve 2Q2022 Market Update
The second quarter brought warmer temperatures, wildflowers, golf tournaments, hiking, horse and holiday events to the vibrant Preserve Community. Buyer demand remains strong for its privacy, great weather, extensive amenities and quality homes, leaving limited inventory in a Community of just 141 homes (18 under construction and 40 in the permit process). With only 2 homes and 26 homesites on the market, 2Q22 had 2 homes sales, which is on par with the past years’ average and median home prices of $5.56m have also held steady.
Over $11.2m was invested between two homes and one homesite, topping last quarter’s sales by 14.5% but falling well behind the same quarter last year by 62.2%. 4 Via Vaquera sold its first day on the market at its list price and the other home sold quickly off market near ask at $5.7M, showing strong demand for architecturally significant designs with views.
Vacant land saw a significant pull back by 96.2% QoQ and 95.9% YoY with only one transaction compared to an average of 8 per quarter during the past year. There are, however, 4 homesites in escrow and showings have been very strong with serious buyers looking for privacy and views.
As inventory remains low, buyers will have to be patient for the perfect home to become available or decide to build their own.
We are excited to be bringing one of the best homes in the Preserve to market as well as the two best homesites soon!
We were honored to represent both the buyers and sellers of the two home sales this quarter.