PORTOLA HILLS LIVING by Kelly Turbeville

Wondering how the Portola Hills real estate market has done so far in 2022.  Well, April was a record breaking month!  But are we at the height of the market?  We are certainly in a shifting market.  What is shifting?  Interest rates have increased to about 5% and projected to be be higher by years end.  Plus we have seen an increase of new listings, but we are still below "normal" levels.  As we enter the summer months (which is typically the slowest months in real estate) opportunities will improve for the home seller who is looking to move up or downsize.  As demand (buyers) are away and listings increase through May, this offers you the home seller the opportunity to sell at top of the market and buy with less competition.  We are starting to see more Seller concessions. Below is a look it how the Portola Hills real estate market performed in April. Search Available Portola Hills Homes As you can see from the above numbers, the community of Portola Hills had some record b

If I had to describe in one word how the Portola Hills real estate market performed in 2021...it would be Crazy.. AF (well technically that is 3 words abbreviated).  Below is a video recap of the details. Take a listen and for more details, you'll find the complete report below.  What is the value of my Portola Hills Home? In 2021 there were 185 sold properties in Portola Hills, pretty much split between Single Family Homes and Attached homes.  Fun fact, in 2020 93 single family homes sold and in 2021 the exact same number sold.  Interesting the value of homes both Attached and Single Family homes, grew 15% from 2020. It is important to note that this is overall, your home may have had more or less, depending on the community, conditions and recent sales specific to your home.  If you would like a report for your home specifically, please do not hesitate to request a Home Value Report here . Search Portola Hills Homes If you are considering a move in 2022, please do not hesitate to

We just finished up our review of the Portola Hills real estate market for September and it was hot, hot, hot!!   Both home values and sales volume were higher last month then the same time period in 2017.    This is slightly different then the rest of the OC real estate market.   Though we are starting to see a slight shift towards a balanced market and homes are taking longer to sell, we did not see a decline in pricing. Search Available Portola Hills Homes Below is a snapshot of the Portola Hills real estate market in September Looking at the current real estate market, we see plenty of opportunity for both sellers and buyers.  Thus why it is called a balanced market.  Honestly, if you are thinking of moving up and/or downsizing, today's real estate market offers you the opportunity to take advantage of the equity you gained the last few years and now provides more buying power.  Especially before interest rates rise in 2019. What's the Value of my Porto

There is a lot happening in Portola Hills in regards to Real Estate.  New homes being built, new communities added that all impact your home values.  So we took a look at how the market performed in July.   Take a peek!  Portola Hills saw a 10% increase in pricing from the same time last year on single-family homes. However, on the Condo/Townhomes pricing was flat.  Which honestly makes no sense to me, as demand is extremely high.   There is certainly room for pricing growth on the attached side of the market.    What is the value of your Portola Hills Townhome? The big story in July is Sales Volume, which was down 38% from the same time last year.  Why? It could be just a seasonal shift or that we saw an increase in sales before the new homes came into the area.  After all it is not fun competing with new homes sales in your backyard.  Buyers love to look a pretty new houses, so your house has to compete, otherwise the minute buyers walk in they begin deducting dolla

You have heard the rule of supply and demand and it is certainly a factor in our latest market review for Portola Hills.  Below is a look at how the market finished up and as you will note, we saw a 16% increase in values from May 2016. The above numbers are consistent with the overall Orange County market when I look at Detached Single Family homes.  However, on the condo  i.e. attached market, pricing is behind the rest of the county, where the average price of a a attached home was $477k. Search Portola Hills Homes Opportunity is certainly available for home owners thinking of selling in Portola Hills.  Homes that are priced well, in showing condition and available are receiving multiple offers.   July is the transition time for the market as summer distractions take their hold on the market, but with the low inventory opportunity is still present! What's the Value of my Portola Hills Home? Let's grab a cub of coffee and review your home selling needs

As we venture into the summer months, the real estate market in Portola Hills is a bit quiet, but that is not much different from 2016 when you compare the two years together.   Overall inventory remains below demand and we know how the saying goes, low inventory, high demand = ? Portola Hills SFR/Detached Home Sales - April 2017 Portola Hills Detached Real Estate Values: Median Price of Detached Single Family Home in April was $980,000 and that is up over 9% from 2016. Inventory of available homes is just over 1 month. Days on the market is down to 43 days year to date Portola Hills Attached Home Sales April 2017  Portola Hills Attached Real Estate Values: Median Price of Attached Home in April was $455,000 and that is  down 7%  from 2016. Pricing year to date is flat. Inventory of available homes is just over 1 month. Days on the market is down to 46 days year to date As I look at the numbers and compare to the overall Orange County real est

We have created two very unique real estate reports for both home buyers and home sellers and guess what they are FREE!  Why... we know long before you call a Realtor in today's age, you begin to do some research.  So we wanted to help you review details that pertain to your home search or home sale. Our first guide is for the home buyer .  Whether you are a first time buyer, move up buyer or coming back into the market our FREE guide will help you be prepared and put you on the road to a smooth escrow. Things to consider when buying a home Our second guide is for the home seller . Whether you are selling your home for the first time or have sold other homes in the past this guide gives you up to date information relative to today's market.   In addition to these two reports, if you are considering a move and want to review the value of your home before you reach out to a Realtor, make sure to request our FREE Home Value Report. . Even if you aren't think

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

We are in the last month of summer and the count down in on as to when school starts.  Here in Portola Hills school begins the last week of August.   Doesn't that seem early to you?  Man summer flew... With that rush for school prep, we tend to see a shift in the real estate market.. it gets a little quieter with the summer distractions.  So was that the case in July for the Portola Hills community...  To a certain degree yes.  The average days on the market are increasing, as buyers have slowed and inventory jumped a bit in July. Currently there are 15 homes available in Portola Hills . Below is a quick look at how the Portola Hills real estate market performed in July 2016. The average price per square foot in July 2015 was $306. The average price per square foot in July 2016 was $380.  That equals a 20% increase in home values for the area.   Of course, it is important to look at the overall market and what the mix of homes that sold are but the numbers always gi

I was searching for a home in Portola Hills for a potential home buyer today and wow it is certainly moving along at a fast speed this month.  Currently there are only 3 homes available for sale in Portola Hills.    On average monthly there are about 10 homes for sale.  I put together this quick market snapshot video to give you an idea of what is happening in the market.    If you are thinking about listing your Portola Hills home this spring or summer you might want to move up that move... The low inventory is providing sellers the opportunity to receive top dollar for their home.   Now of course, today's home buyers know what they are looking for, so if homes are over market price and not presented well then home sellers may run into issues.  But homes priced right, presented well and marketed are bringing in multiple offers. Ever wonder why that home hasn't sold yet as you were driving down the street? The first step in making that move is understanding