July 2015 Portola Hills saw 35% increase in pricing!!
This past July was a busy one for the Portola Hills real estate market. Home sales were up 20% and hold on tight the median price for homes sold was up 35%. . Plus in the last week of July, 6 homes opened escrow!! So why the craziness, you might Ask! A couple of things!! Inventory is very low with all of Orange County only at 1.5 months! Buyer demand is extremely high and buyers want in before projected interest rates increase later this year! It's Portola Hills.. The community is sought after for not only its location, the schools are good, views are spectacular, etc. However, the big difference here is the mix of homes that sold! This year more higher-end larger homes took advantage of their equity position and decided to sale!! Take a look at the mix of homes that closed escrow this year vs. last. July Portola Hills Real Estate Sales It will be interesting to see if this trend continues!! My crystal ball might be fuzzy.. But I would project with t