If you’re thinking about buying a townhome in the coming months, then we have exciting news for you! A new townhome community has just been announced in Scotts Valley, which will bring 20 beautiful new condos to Lundy Lane near Hocus Pocus Park. The project was originally planned for 2011, however the economic decline had investors worried about its success. Now, with a thriving economy and bustling real estate market, the original developer is excited to make this long-time vision a reality, and it couldn’t come soon enough.
Santa Cruz developer, Brooks Properties, who recently completed De Laveaga Park in Santa Cruz, is spearheading the project in collaboration with Bill Kempf, a local architect who also designed the Pinnacle View townhome community on Lundy Lane. The project should take roughly a year-and-a-half to complete, however some of the units should be available as soon as early Spring 2017.
Brooks Properties is hoping the 1,800 to 2,000 square-foot townhomes will garner the attention of working-class families with a budget in the low $700,000s. Currently there is only one similarly sized townhome on the market, which was built in 2003 and is priced at $749,000.
View Current Scotts Valley Condos & Townhomes For Sale
Scotts Valley Condos & Townhomes For Sale
Santa Cruz Real Estate Market At A Glance – August 2016
In August, the average home price in Santa Cruz County was $815,000 , which is up 14% from August 2015. The average sale price is also up from last year, rising from $800,000 to $948,656, an 18% difference. While August was a busy month with 185 homes sold, many of the homes spent a little bit longer on the market than usual and inventory was also slightly up from previous months.
If you’re looking to buy a home in the Santa Cruz area, put Lauren’s trusted expertise to work for you. Send her a message or give her a call at 800.226.4717 for more information today.
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