Lompico has experienced appreciation of 23.1% from August 2003 to August 2004, 22.6% from August 2004 to August 2005, and that appears set to continue as million dollar luxury homes go up nearby. However, property prices in Lompico are still very affordable compared to the rest of Santa Cruz County. While the average median house price in Santa Cruz County in August 2004 was $569,500 and $700,000 in August 2005, in Lompico it was only $395,000* in August 2004 and $475,000* in August 2005.
If you're looking for million dollar homes, then the Woods Cove development going up nearby is worth a look. If you're looking for something much more affordable, say in the $300-500,000 range, then Lompico is the right community for you. Lompico house lots are typically 50,000+ square feet, there are miles of trails to hike or bike, there's the beautiful Lompico Creek flowing through the center of town as well as the Loch Lomond Lake with 87 acres of bass and trout fishing.
Another factor leading to rapid increase in real estate prices in the area is that Santa Cruz County is an almost zero-growth county. Since the late 1970's environmental restrictions have prohibited building on less than an acre, and usable acreage is for the most part gone. Which means that while the supply of houses stays the same, the demand for housing from people wanting to move to the area is increasing dramatically.
It's not difficult to understand why so many buyers are attracted to Lompico though. While it's true that most of Lompico doesn't have paved sidewalks, curbs, and gutters, Lompico also doesn't have smog, traffic jams, drive-by shootings or rampant crime. There's also a unique, eclectic feel to Lompico. There is an interesting mix of housing, and a great mix of people. There are old-timers and newcomers, chiropractors and electronics experts. There are $350,000 starter homes next to $1,000,000 custom homes.
Average Home Qualities
According to Zillow the average home qualities for the 95018 zip code, of which Lompico is a part of, as of November 2016, are as follows:
|Median Year Built||1957|
|House Size||1471 sq/ft|
|Lot Size||7.23 acres|