Thursday, May 1, 2014

Portola & Foothill April Real Estate Snapshot....It's Screaming Sellers Market, Are you Listening?

I am hoping this isn't a repeated sentiment but it makes me wonder as I believe I said this last month,  "where is the spring rush of homes". It's not like we are on the East Coast we can't blame the weather, it is 95 degrees today on May 1st.

Wondering what I am talking about, take a look at what sold in Portola Hills and Foothill Ranch this past April.

Portola Hills:   5 Homes sold, 4 attached one 1 SFR with the average price per square foot of $323.  

Portola Hills Homes Sold April 2014


Foothill Ranch:  9 Homes sold, the mix a bit different 2 attached 7 single family. Average price per sq. foot. $334.











Foothill Ranch Homes Sold April 2014

Historically as the spring breaks end and taxes are paid, we start to see the number of homes on the market increase.  Overall we are seeing a slight increase but with the high buyer demand, their are not enough homes to sustain the market, thus why the above sellers saw an increase of about 20% from last year.

I did little number crunching to give you an idea of what I am talking about when I looked at all of Orange County activity, take a look.

Orange County 24 Hour Real Estate Activity
  • New Listings: 214  
  • Off Market:    394
  • Average Days on the market: 48

So what does this say.... It screams "Seller's Market", are you listening?

If you are thinking about selling but holding off , I would love some feedback on what is holding you back?   Is it financial? Job related? Just happy where you are? Let me know..

If you are considering a move and want to understand what is happening your neighborhood don't hesitate to give Kelly a call. 



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