Sunday, May 6, 2012

Portola Hills April Real Estate Snapshot!

Wow, wow, wow, the Portola Hills Real Estate Market took a turn in April and it was a good one.  What happened..... What happened.... you might be wondering...  12 homes closed escrow!! Bigger news there are only 7 homes available to purchase in Portola Hils right now!

Check out the numbers:

Active Listings: 7
Attached: 2 homes Listed:
Amenities: 2 Bedroom, 2 Car Garage
Average Sq. Footage: 1096
Average Price: $292,450
Days on the Market 71
Distressed factor: 50%


Detached: 5 homes Listed:
Amenities: 5 Bedroom, 3 Car Garage
Average Sq. Footage: 2667
Average Price: $617,700
Days on the Market 200
Distressed factor: 60%

Sold Properties: 12
Attached: 11 homes Listed:
Amenities: 2 Bedroom, 1 Car Garage
Average Sq. Footage: 1166
Average Price: $260,950
Days on the Market 50
Distressed factor: 99%


Detached: 1 homes Listed:
Amenities: 5 Bedroom, 2 Car Garage
Average Sq. Footage: 2400
Average Price: $534,000
Days on the Market 0
Distressed factor: 0%



So what do these numbers indicate!!  IT IS A SELLERS MARKET FOR PORTOLA HILLS HOMEOWNERS!! Are you thinking, really how can that be when we hear it is a buyers market? The rule of supply and demand prevail.  There is less than 1 month of inventory on the market.  5 of the homes that sold in April where sold in 0 days, meaning.... buyers waiting!!


In reality this market right now is like a perfect storm.... The demand is high for Sellers and the Interest Rate and Prices are more affordable than they have been in years for Buyers.  PS... Portola Hills also has an FHA Approved Condo complex.... So what does this mean.... You are approved for FHA buyers and many complexes currently are not approved, makes you all the more desirable.


What this market really needs is more homes!! If you are considering listing your home don't miss this opportunity.  Ask yourself is it better to have your home on the market when there is less inventory or more and more is coming.  If you are in a distressed situation, do it now, before the tide turns and it will turn..have you heard of the shadow inventory, it is real!  So there is an opportunity, right now, are you listening.  Remember, It's Possible!  


Of course, we are here to help. Contact us today for a confidential review!



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