PORTOLA HILLS LIVING by Kelly Turbeville

Someone turned on the faucet for closed real estate transactions in June with 16 closed escrows throughout Portola Hills. Below is quick look at what closed in Portola Hills. Attached homes: June 2014 Attached Portola Hills Home Sold Detached homes: Portola Hills Detached Home Sales The same can be seen overall in Orange County, homes are selling.   The median home price in Orange County increased 10.4% over last year and at $595.000.   We are also seeing homes stay on the market a bit longer.... Why when for months now we have heard there is not enough inventory.  Inventory has increased but is still far below a balanced market.  What has changed is that buyers are being a bit hesitant with the increase in pricing.  So homes that are listed a bit high are staying on the market longer. If you are considering listing your home for sale, it is critical to have a strong pricing strategy that will bring you top dollar for you home in the time frame you

Is it true, sellers are asking me, are home prices increasing.   The answer is yes with a question mark?  The mix of homes that sell within a given month will determine the average price.  In May there were some homes that were on the market for a very long time with 90% being distressed.  In June this changed and improved as there were a few more equity sellers, which resulted in the price per square foot for both attached homes and detached homes edging out higher. The #1 one thing driving the market right now, is the low, low inventory.  The rule of supply and demand is alive and well with Portola Hills real estate.   Low Inventory, High Buyer Demand provides Portola Hills sellers the opportunity to capture this increase in pricing.  How long will this window of opportunity be available, my crystal ball is a bit foggy with this market, however it is nice to see at the moment! Sold Properties: Attached: All signs are looking up!  Of course mix has something to do with i