Wednesday, March 5, 2014

Was love in the air for Portola Hills Real Estate - February Market Snapshot

The month of February is filled with hearts, roses and love, well hopefully, right?  For the real estate market in Portola Hills I would say it was filled with love for Home Sellers.

Comparing 2013 vs 2014 there wasn't much difference in the over all number of sales.  4 sold in 2013, 5 sold in 2014.  However if you look at the mix and the price per square foot that is where you see the difference. Of course this has too do with mix but if you compare averages and median you see the price per square foot in 2014 jumped 23%.  I would say that is love!!

Take a look at the difference between 19602 Highridge and 28281 Harvest View Lane.  These homes are similar, Harvest View was larger square footage and had a larger lot versus Highridge which had smaller square footage but a view of the Saddleback Mountains.  Highridge sold for 15% more in 2014.

Feb 2014 Portola Hills Closed Sales

Feb 2013 Portola Hills Closed Sales
So what is in store for March.  The inventory is still VERY LOW!  Though we have seen an increase in listings overall in Orange County Portola Hills is still very light and the buyer demand is still very strong.  Currently there are only 3 Active Listings in Portola Hills.  Two Condo's and One Single Family home.

If you are considering a move this spring, now is the time to start preparing.   Interest rates are projected to increase through the end of the year, so it if you consider, the low inventory, high buyer demand as well the ability to buy your new home at low rates, now is the time to take actions.

Don't hesitate to send us a quick email and request your FREE Home Review!!



Post a Comment