PORTOLA HILLS LIVING by Kelly Turbeville

We are in about our 7th week of quarantine in Orange County and if you are anything like me, I am sure you are getting restless.  We just really hope no one in the community has been too affected by this virus either with their health or financially.  We get many questions asking how the real estate market is performing during this time? The good news is, it is hanging in there.  This is not like 2008!  The current inventory levels are extremely low compared to what we saw during the last recession.  The biggest impact to the real estate market is going to be unemployment, but pleasantly the numbers and activity in Portola Hills remained strong in April, as you can see below!  Looking at the above numbers you can see the strength of the market in two indicators.  First the list to sale price ratio. Seller's received over 100% of what they were requesting when they listed their home. Actually the received over! Most likely from multiple offers. The second indicator is the months o

We are well into 2017 with the first two months behind us and hopefully some of that rainy weather we had.  Both January and February were record breaking months for rain.  Though needed, due to the drought, I will confess I am happy the weather forecast for the next week ahead is sunny and warm!!  Time for some work in the yard and friends over! The weather is a perfect metaphor for the Real Estate Market.   The last two months, have been pretty static in Portola Hills and a little quiet... Like people are staying home with the fireplace on and watching the rain.  But as Inventory is very low, with only 1 a paired home available and 3 new builds in The Oaks community, the clouds have parted and the market is warming up!   Below is breakdown by style of pricing for January and February. The most expensive home sold in Portola Hills so far in 2017 is a 3700 sq.ft JM Peters home that sold for $1.150,000.   The least expensive was a 2 bedroom Canyon View Condo which sold fo