PORTOLA HILLS LIVING by Kelly Turbeville

It always amazes me how fast the years go by and 2016 is no exception.  We are mid-year, so it is always a good time to take a look at how the overall real estate market has performed in Portola Hills thus far. The info-graphic below highlights the 2016 Portola Hills real estate market is certainly on an upswing thus far in the year. Looking at the above figures the low sales volume certainly is a driving force in the increase in pricing.  Inventory remains to be a key issue throughout South Orange County.   In July we typically see a turn in the market from the spring strides.  It's summer after all people are distracted.  The demand has been very good this year thus why we see such an increase in pricing.  We are also beginning to see a slight increase in the inventory and the expected market time is on the rise. Though Portola Hills Average Days on the Market is averaging about 40 overall in the county that has increased to about 79.  Leading us to a more balanc

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