Thursday, January 30, 2014

A year in review - Portola Hills 2013 Market Review

Hard to be believe we are finishing up the 1st month of the new year!   The year is starting off strong for Real Estate; Home Buyers are out and about and we are seeing slight increase in new listings overall.  However here in Portola the listings are still pretty light which brings opportunity for homeowners considering a move.

Overall from 2012 to 2013, Portola was consistent with the rest of the market we saw about a 20% increase in pricing. Yay, Equity is building back up!!  With that said it is important to look at each segment of the market so you can determine what the best move for your home is.

In Portola Hills there are 3 Property Segments.  The first is the Condo segment  which are attached properties that range from 900 sq.ft to 1300 sq.   26 homes condo's sold in 2013 with the average sold price of $312k for just over 1000 sq. ft.  The highest price point in 2013 was $408k for 1305 sq. ft.  Below is snapshot of the condo market.

Portola Hills Condo Sales 2013
The next property segment is Attached Single Family Homes.  This is a unique aspect of the market as these are considered Single Family Residents but do have one wall attached.  These run between 1300 sq. ft. to 1900 sq.ft.  11 of these homes sold in 2013 with the average sold price of $526k for 1790 sq.ft.   The highest price model sold for $610k.   Below is a snapshot of these homes.
Portola Hills Single Family Attached Sales 2013
The final property segment are traditional Single Family Homes.  In Portola these run from about 1600 sq.ft up to about 3500 sq.ft.  A total of 24 homes old in this segment with the average sold price of $730k for 2700 sq.ft.  The highest price model sold for $860k.  Below is snapshot of these homes.

Portola Hills Single Family Homes Sales 2013

As you review this pricing make sure to keep in mind this is a summary based on averages.  If you are looking for an complete home valuation don't hesitate to, contact us.  We will consider all factors and detail for you where your value falls in terms of sales, condition, location and the current market. 

Keep in mind the rules of supply and demand prevail... Low Inventory, High Buyer Demand equal a SELLERS MARKET!!, but watch that inventory since the beginning of the year OC has seen a 7% increase in new listings. So if you are considering a move, now is the time before the spring rush...


Kelly’s positive spirit, sound business and marketing skills, and experience negotiating multi-million dollar contracts all combine to make her one of the premier real estate professional in the Saddleback Valley. She takes a big-picture approach to make sure all of your goals, both short and long-term, are part of a larger plan that’s guiding you towards success.  Call Kelly to schedule a free consultation on how she can help you achieve your objectives. Whatever your Real Estate dream is, with Kelly Turbeville at your side, It’s Possible!




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