A spooky pause for Portola Hills Real Estate in October? It's all perspective..
What a difference a year makes in Real Estate. This past month the real estate market in Portola Hills took a dramatic pause. What do we mean by a pause? Looking at the number of homes sold and comparing to the previous year; sales were down dramatically. The area had only 2 closed escrows in the month vs. 8 in 2015. The two homes that closed escrow were in the Bella Palermo complex; both condo's. The good news of course... prices were up. Below is look at what homes closed escrow in October. Portola Hills Condo Home Value: Oct 2016 Median: 3 Bedroom/1156sqft. = $436k or $378 per square foot. Oct 2015 Median: 2 Bedroom/1014sqft. = $345k or $337 per square foot. Great news for condo owners in Portola Hills, from this time last year home values were up 21% in October! Overall in South Orange County the Condo/Townhome market is extremely strong. Supply of available homes is extremely low and demand is very high. What is the Value of my Port