Santaluz offers great ambience, very low density, and famously tough CC&Rs and building restrictions (still a lot of 1 – 2 acre lots for sale).
It has suffered about a 20% fall off the peak, which was about 2005-6.
The big 5,000 – 6,000 s.f. houses have fallen the most; the little one-story casitas of 2100 – 2400 s.f. the least. The latter appeal to empty nesters and down-sizers who want the great atmosphere but not the 5-6 bedrooms.
Not much shopping nearby, but isolation and gated community aspect appeals to many.
