PORTOLA HILLS LIVING by Kelly Turbeville

As we are getting back to work after enjoying the 4th of July events, it is time to look at how the Portola Hills Real Estate Market performed in June...  For my business it didn't seem slow but when I look at the numbers we do see sales volume down about 50% from what it was in June 2015 for the Portola Hills Market. Looking at pricing in the Portola Hills it was up about 7% from June last year. Which is consistent with the rest of the county. Does the sales volume slow down signify a shift in the market?  The simplest answer; it depends.  Looking at history we know the best time to sell a home is Early Spring to Mid-June.   We typically have a seasonal slow down in late June through the 4th of July. Inventory has increased slightly throughout the county but in pockets such as Portola Hills it has remained low.  So if more homes come on the market through August we may see a bit more of a balanced market.   However, at the point of putting these numbers togeth

I don't know if you are as shocked as I am that we have officially closed the 1st Quarter of 2016.   We are just about mid-month into April and many have taxes on their mind.  Is a move this next year beneficial for tax savings? The first quarter of the year typically is a bit quieter up until tax time. Then we tend to see the spring surge in inventory come on the market.  Will that be the case for the rest of spring... The market certainly needs more inventory so I hope so Homeowners who chose to sell their Portola Hills home in this last quarter saw significant price gains.   Below is a look at the entire area along with the gains split out for attached and detached homes. Portola Hills 2016 Real Estate Sales Jan-March Portola Hills 2015 Real Estate Sales Jan-March Comparing 2016 vs 2015 the number of sales was down slightly with 23 sold in 2015 and 21 sold in 2016.   The median sales price in Portola Hills is up about 15% from 2015.  The lowest price

Yay, we made it,  2013 is over and it turned out to be quite the year for real estate in Portola Hills!  The year started off pretty slowly but then if you remember, it all became about inventory, inventory, inventory or should we say the lack there of.   With the low inventory many homes came on the market and were sold with multiple offers over asking price throughout South Orange County.   Below is a quick snapshot of how the year ending for Portola Hills. In Portola, I was surprised to not see more homes sold over asking price.   Homes priced between $200-$300k & $400-$500k saw a slight increase from list price to sold price.  However, the other price ranges did not see this same increase.  That means one of two things, these homes were over priced when originally listed or they were negotiated down in price from the buyer.  We are happy to report on average we our homes have consistently sold at 104% over asking price and the same was true in 2013. Listed Price vs. So