June 2015 Real Estate Market Recap for Portola Hills

Summer is in full swing here in Portola Hills and so is the Portola Hills Real Estate Market.   Foot traffic at open houses has been crazy... buyers are out and about.. why inventory is low overall in Orange County averaging about 21% decrease in listed homes from this time last year!! 

Below is a quick look at the homes that closed escrow in Portola Hills last month!!

June 2015 Portola Hills Sold Homes

As will note the lowest priced home sold for $335,000 and it was a 2 Bedroom Canyview Condo.. The highest priced home was a JM Peters Estate home that sold for $1,100,000.The median price for the area is $454k and the days on the market are less then 30 at 24!!  What does this indicate?  Portola Hills is a sough after neighborhood for home buyers!!   

Homes priced at fair market value, presented and marketed well are receiving multiple offers.   I do see some price discounts happening in the market which is a bit surprising with the low inventory.  Honestly not sure why this would be happening looking at the strength of the South Orange County market overall.

If you would like a review of the market and how to capture the current demand, please don't hesitate to give Kelly a call. 

Make sure to check out these other great articles on the overall Lake Forest Market.  Let us know what you think!!


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