PORTOLA HILLS LIVING by Kelly Turbeville

The Portola Hills community has a variety of condominium and townhome  communities, ranging in price from about $400,000 - $575,000, these include Montecido, Bell Palermo and Canyon View.  In addition, in 2019 two new communities came to the community in the Ironridge community, Copperleaf  and SilverOak  that are priced from $600,000-$750,000.  Looking at what sold in 2019, this segment of the market in Portola Hills was strong,  but looking at pricing it trailed what is happening in other cities in the valley.  Below is a comparison of what homes sold for in the Portola Hills, Foothill Ranch and Rancho Santa Margarita and overall values. Community:           Style:                  Sq.Ft.           Price :            Days on the Market Portola Hills        2Bed/2Bath          1063          $443,589              54 Foothill Ranch    2Bed/2.25Bath     1124           $471,352              51 RSM                   2Bed/2.35Bath     1192           $479,822              55

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