Wondering how the Portola Hills Real Estate Market is doing? Is it true, a sellers market is upon us? Check out the #'s.
Style: 2 bedroom / 2 bath
Avg. Sq. Footage: 1287 sq.ft.
Avg. Sold Price: $227,780
Days on the Market: 248 (Note: finally a home sold after being on the market 471 days)
Style: 3 bedroom / 3 bath
Avg. Sq. Footage: 1475 sq. ft.
Avg. Sold Price: $410,000
Days on the Market: 45 days
Currently there are 11 active properties on the market. 4 attached properties and 7 single family homes. This averages out to be about a month in half of inventory currently active. A sellers market is generally less then 3 months of inventory on the market. The rules of supply demand prevail. It's a seller's market in Portola Hills.
Make sure to read our blog on Where did all the Portola Hills Homes Go as it points out a very important factor in the above scenario. 5 of the homes currently active on the market were listed in the wrong city as were 3 sold's. All listed by out of the area agents. What does it tell you? If you are considering a move, make sure your agents know the area and how local residents will be searching for homes. It is disappointing to see some don't.
In addition it is important to understand the market conditions of the surrounding area, check out these quick snapshots....
Trabuco Canyon Real Estate Market
Lake Forest Real Estate Market
Rancho Santa Margarita Real Estate Market
Mission Viejo Real Estate Market
Should you have any questions regarding the current market and would like a detailed report on the value of your home please do not hesitate to contact Kelly direct.